Bonds Bid On Dismal Data, Crashing Carmakers, And Crude Carnage

Macro data suddenly collapsing, Auto sales slumping, consumer spending rolling over, lending falling, and earnigs expectations limping lower… stocks flat into The Fed…

 

So this happened…

 

And car sales slumped (down over the last 2 years…)

 

Ahead of AAPL earnings and The Fed tomorrow, stocks were panic-bid into the close to ensure Nasdaq closed at a new high…

 

 

VIX briefly tried to push back to single-digits but drifted higher for most of the day… until teh close when iut was hti to ensure a green close for Nasdaq

The dismal auto sales data sent carmakers tumbling… even Tesla!!!

 

Banks dropped again (after a bounce) as break-up chatter continued…

 

Bonds rallied notably after yesterday's "odd" run back above 3.00% for 30Y (as VIX collapsed)…catching back down to stocks..

 

The entire Treasury complex rallied today pushing yields out to 7Y back below unch for the week…

 

The Dollar Index trod water yet again, coiling ahead of The Fed statement tomorrow…

 

 

Copper slipped today but remains higher on the week (despite weak China PMIs), Crude and Silver tumbled…

 

The Energy complex was a bloodbath today with WTI at 6-mo lows and RBOB at 8 mo lows…

 

Energy Stocks tumbled to the lowest since Nov 2nd – down 5 days in a row… (down 15% from its highs on 12/12/16)

 

Gold and silver were marginally lower today as Gold bounced off its 50-day moving-average…

 

Gold continues to outperform Silver – back to the Brexit plunge levels…

 

SLV – the Silver ETF – is now down 12 days in a row, the longest streak on record…

 

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