Bonds & Bullion Beat Stocks As Fed Frenzy Fades
Do not worry… “it’s contained”
From The FOMC Statement, Gold is 1st, Bonds 2nd, and Stocks 3rd…
and on the week the same picture…
WEAK CLOSE…
Trannies remain the big squeeze post-FOMC winner but Dow is the laggard…
On the week, however, Trannies lagged and ended the week red (down 4 of the last 5 weeks) as Small Caps (dominated by Biotech ‘no brainers’) led the pop…
Biotechs were up over 5% this week – the best week since Oct 2014 (up 7.25% from the lows of the week)
VIX ended the week unch…
Treasury yields ripped lower today and on the week the entire curve is lower led by a 17bps collapsd in 5y (among the biggest this year)…
The USDollar roundtripped on the day as late-day buying pressure for Swissy pushed it lower (but ended down 1.2% for the 3rd week in a row
Copper and Crude monkey-hammered on the day leaving gold and silver higher on the week…
Remember it’s OPEX (Quad Witching)
h/t@NorthmanTrader
* * *
While stocks leaked today, the real Grexit fears are evident in Swissy…
European VIX…
and Bitcoin… (biggest week since January)
With that in mind, we leave you with this thought for the weekend and Monday’s bank opening in Greece…
Charts: Bloomberg
Bonus Chart: Moar Flash Crashery…
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Original article:
Bonds & Bullion Beat Stocks As Fed Frenzy Fades
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