Stocks Pump-n-Dump As Quad-Witch Looms, Liquidity Crisis Continues

Billions more in immediate liquidity, a promise of moar to come, but indications are that things are not improving and stocks gave up their early gains… somebody do something!!

[youtube https://www.youtube.com/watch?v=SJUhlRoBL8M]

First things first, The Fed increased its liquidity provision once again today and EFF-IOER continues to be out of control…

Source: Bloomberg

Since The Fed cut rates, stocks are outperforming, but gave back their hyped up gains considerably today…

Trannies and Small Caps are red post-FOMC…

But the odds of a trade deal tumbled after hawkish comments on tariffs from Washington…

Source: Bloomberg

And this didn’t help from The Global Times: “Both China and the US should cherish the current talks. Many US officials easily misread China’s goodwill, think it shows Beijing’s weakness. China doesn’t like talking tough before the negotiations, but I know China is not as anxious to reach a deal as the US side though.”

Chinese stocks managed gains on the back of The Fed’s promises but remain red on the week…

Source: Bloomberg

European stocks rallied back to unchanged on the week today…

Source: Bloomberg

US equity indices (apart from Trannies) started the day off exuberantly extending yesterday’s Fed-Induced euphoria – but trade comments spoiled the party – Nasdaq managed gains, S&P unch…

NOTE – US equities reversed around the EU close

Source: Bloomberg

S&P 500 algos were all about 3,000 once again…

Banks eased back from their gains yesterday as they reached a key resistance level…

Source: Bloomberg

Momo extended its gains relative to value today…

Source: Bloomberg

Stocks decoupled from bonds, gold, and the dollar early on…

Source: Bloomberg

 

US Treasury yields fell 2bps across the entire curve today…

Source: Bloomberg

30Y Yields continued to slide after peaking last Friday…

Source: Bloomberg

The Dollar erased all of the supposed “hawkish cut” gains from yesterday…

Source: Bloomberg

Offshore yuan tumbled after tagging the fix briefly after The Fed move yesterday…

Source: Bloomberg

Cryptos dumped and pumped in the last 24 hours but Ethereum continues to lead the week… (but the these of Altcoin outperformance continues)

Source: Bloomberg

A quiet day in commodityland for a change with modest gains…

Source: Bloomberg

Gold futures bounce back above $1500…

But Cheese-flation is rife…

Source: Bloomberg

Finally, if you think you had a bad day?

*TRUDEAU: ‘WARY OF BEING DEFINITIVE’ ON NUMBER OF INCIDENTS

Don’t forget, it’s Quad Witch tomorrow – so hold on to your hats – as S&P 500 looks pinned around 3,000…