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Stocks Give Up "Volumeless, No Good Reason" Gains On Hawkish FedSpeak

It's over...Hotflation and Fedspeak - unless the S&P plunged 200 points, June is on like Donkey Kong.

 

Who could have seen that coming...

 

The S&P 500 tumbled back into negative territory for the year once again...

TS YTD

 

What goes up, comes back fast on heavy volume... Weak China data's dip was a panic buying opportunty for the machines which quickly evaporated...

 

Trannies started off in a hurry on the day...

 

Once again VIX was pressured to keep the S&P 500 above unch year-to-date...

 

There is one odd outlier post payrolls...

 

Financials lagged as they begin to catch down to yield curve reality...

 

Stocks caught down to bonds...

 

Treasury yields extended their losses - despite the equity weakness - as Dell's yuuge issuance dominated rotation and rate locks - though notably, like last week - thelong-end rallied as the short-end sold off on fed speak...

 

The USD Index trod water today after USDJPY pumped and dumped back to unch...

 

Crude continued its drift higher - no news - as PMs and Copper trod water despite the equity plunge...

 

Oil ETF longs and shorts continue to drift lower but appear balanced for now (lower pane)

 

With API data due after hours, the question is will last week's exuberant draw stand up...

 

Charts: Bloomberg