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Breaking Top Featured Content:
“Chaos Is Coming” – Bullion, Bonds, & Big-Tech Bid As Dollar & Dow Dumped
Tyler Durden
Wed, 06/10/2020 – 16:01
Hugh Hendry warned that “Chaos is coming”…
CHAOS is coming! pic.twitter.com/c7YIOTaW2q
— Hugh Hendry Eclectica (@hendry_hugh) June 9, 2020
And, by many measures, it’s already here – as these two muppet-mutilating stocks show…
And here’s a preview of tomorrow’s carnage-inducing stock…
Well played Robinhood!
FANG stocks were bid once again – with many of the mega-tech stocks hitting record highs…
Source: Bloomberg
Lifting Nasdaq on the day as Small Caps were slammed…
Bank stocks were battered again as rates fell and flattened…
Source: Bloomberg
Banks relative performance has tracked the yield curve almost too perfectly…
Source: Bloomberg
Market-neutral momentum bounced hared again today after briefly touching unchanged on the year…
Source: Bloomberg
Here’s what The Fed did…
But Gold was the big gainer after The Fed unleashed formal QE, pretty much monetizing America’s deficits going forward…
Silver also surged, back above $18…
The dollar was monkey-hammered lower… (this is the 9th down day for the dollar in the last 10 and 14th down day in the last 18)
Source: Bloomberg
To its lowest since early March…
Source: Bloomberg
Treasury yields tumbled…
Source: Bloomberg
The belly of the curve outperformed (7Y -9bps, 2Y -3bps, 30Y -6bps)…
Source: Bloomberg
Short-term rate expectations eased…
Source: Bloomberg
Oil prices rose despite a big crude build to record high US stockpiles… (but it did fall after The Fed)…
Bitcoin briefly spiked above $10k after The Fed…
Source: Bloomberg
Silver outperformed gold today…
Source: Bloomberg
Finally, there’s this… Fed Chair Powell basically admitted to The Fed Put (but stocks still stumbled)
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*POWELL: WE WANT INVESTORS TO PRICE IN RISK LIKE MARKETS SHOULD
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*POWELL: POPPING ASSET BUBBLE WOULD HURT JOB-SEEKERS
As Bloomberg notes, stocks may be the ultimate beneficiary of trillions of dollars in economic stimulus from the Federal Reserve, according to Savita Subramanian, Bank of America Corp.’s chief U.S. equity strategist.
“Liquidity looking for a home” is bolstering the FANG stocks…
Source: Bloomberg
To infinity and beyond!
Source: Bloomberg
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