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Bonds, Black Gold, & Big-Shorts Bid As Bitcoin Breaks Down

Bonds, Black Gold, & Big-Shorts Bid As Bitcoin Breaks Down

The most-shorted meme stocks continued to charge higher today…

Source: Bloomberg

The best performer among these manic meme stocks was CLOV…

As did the most-shorted micro-caps

Source: Bloomberg

Both of which lifted Small Cap stocks to dramatically outperform the rest of the majors today (which all ended unchanged)…

Chip stocks were pummeled from a strong open…

Source: Bloomberg

Bank stocks seem a little over their skis relative to the yield curve…

Source: Bloomberg

Bonds were well bid…

Source: Bloomberg

With 10Y yields closing at their lowest in three months…

Source: Bloomberg

The Dollar trod water…

Source: Bloomberg

Cryptos were ugly overnight on FBI/Hack headlines and IRS regulatory threats but bounced back as details were explained and MSTR’s bond issue was upsized…

Source: Bloomberg

Bitcoin traded down to within pennies of $31000 and bounced back up near $33k…

Source: Bloomberg

Bitcoin remains at a key support level…

Source: Bloomberg

WTI topped $70 for the first time since Oct 2018…

Gold was choppy today but ended back below $1900…

Finally, we wonder just what will happen when all these couch-sitters actually run out of benefits? Record job openings… and near-record people soaking up government handouts rather than apply for a job.

Source: Bloomberg

Tyler Durden
Tue, 06/08/2021 – 16:01

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