One of those days...
Once again European concerns are front and center...
And EURUSD vol is starting to spike...
A Record 37th day in a row without a 1% intraday move... and 81 days in a row without a 1% drop.
A 53 point intraday range in The Dow today!!
S&P closed almost unch, Dow and Small Caps red on the day... Nasdaq record high
But banks were the worst performers... (down 3 days in a row)
NOTE: bank stocks are holding in at the 50-day moving-average...
As it appears suddenly investors are waking up to the fact that NO - THE YIELD CURVE NEVER STEEPENED!!!
Real Yields have entirely erased Trumpflation hopes...
Treasury yields continues to plunge post-Payrolls...
With the entire yield curve now lower on the year...(yields have dropped since The Fed)
Slamming 5Y yields to the lowest since November...
With near-record short positions, we wonder if the squeeze is just beginning...
The USD Index dropped today (but remains up on the week)...
Kiwi kneejerked lower after RBNZ said it wants the currency lower...
WTI and RBOB ripped higher - after initially tumbling on terrible inventory and production data...
The weak 10Y auction saw USDJPY and Gold mirror each other perfectly (tagging 112.00 and $1240 respectively)...