Steve Ballmer mimics the excitement in the room ahead of Draghi’s press conference…
[youtube https://www.youtube.com/watch?v=jkXk-B1e__8]
But the euro shows the post-Draghi disappointment nothing-burger…
German Bund yields spiked as Draghi began speaking but buyers came back in after he finished with yields ending just 1bps higher on the day (after making a new record low)…
And the entire Swiss yield curve – out to 50Y – is now negative…
Chinese stocks lifted overnight with tech-heavy ChiNext outperforming…
US Small Caps were the day’s biggest loser (after being yesterday’s big winner).. weak close
“Most Shorted” stocks plunged by their most since May 13th…
S&P tested back below 3,000 intraday but was bid each time…
Dow Futures pushed down to 2-week lows…
Tesla was monkeyhammered 15% lower…
Boeing puked…
Facebook was FUBAR (after tagging record highs immediately after earnings)…
But BYND is beyond belief…
With a massive $875 mm (44.75% of float) short…
VIX mini flash-crashed to an 11 handle ahead of the bell as Draghi spoke but pushed back above 13 as stocks sank…
Which is notable since VIX calls have been aggressively bought…
HY Credit risk compressed on the day – despite the broader derisking, but VIX and IG risk increased…
Treasury yields jerked higher on Draghi’s disappointment today (up 3-4bps across the curve)…
10Y Yields spiked intraday from 2.00% to 2.10% before leaking a little lower…
The Dollar Index ended higher, despite the roundtrip on the EUR…
Bitcoin and Ethereum managed gains on the day but broadly speaking, Cryptos are lower on the week…
Bitcoin spent the day hovering around $10,000…
Commodities all drifted lower during the US day session…
Gold modestly outperformed silver for the first time in 10 days…
Finally, The Fed better cut now that The ECB has waited… USD liquidity measures are screaming for some help…
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