73 years ago today...
Gold remains the big winner post-payrolls...
Quiet day for US Macro didn't help as stocks opened under pressure after overnight weakness in Asia (USDJPY and NKY), staged the ubiquitous ramp back to try and get to unchanged.. only to fade into the close...
FANG Stocks got hammered in the last hour of the day...
with GOOGL losing the $1000 level
VIX pushed higher on the day to close above 10.5...
The Dollar Index continues to slide post-payrolls...
Down to its lowest in 8-months... and is unchanged YoY...
USDJPY tumbled almost 1% today to 7-week lows...dragging NKY lower...
Treasuries were bid (helped by headlines about China buying), erasing all of yesterday's losses...
To trade at their lowest since the election... and notably 30Y yields are below the levels when The Fed first hiked rates in Dec 2015 - "policy error"
As Trumpflation trades are collapsing...
Gold continued to rise to its highest since the election...