Select Page

FedEx FUBAR, Tesla Tops, Crypto Chaos, & The Steepest Yield Curve In 13 Months

FedEx FUBAR, Tesla Tops, Crypto Chaos, & The Steepest Yield Curve In 13 Months

Anyone else feel this way?

[youtube https://www.youtube.com/watch?v=ilcRS5eUpwk]

China was flat to lower overnight as the post-trade-deal euphoria has well and truly worn off…

Source: Bloomberg

Europe was mixed once again with Germany the biggest laggard and Italy leading…

Source: Bloomberg

The Dow and S&P closed red – breaking their win streak but Nasdaq ended higher (6th day in a row – longest Nasdaq streak of gains since July), except for Transports…

Source: Bloomberg

Trannies were crushed by the clubbing of FedEx…

Source: Bloomberg

And Small Caps were lifted by yet another short-squeeze…

Source: Bloomberg

VIX was higher on the day, despite stocks being higher, and saw a second day in a row where vol spiked at the cash open (high gamma ahead of the big op-ex on Friday is causing chaos)…

And VIX closed at the highs of the day, notably decoupling from stocks this week ahead of op-ex…

Source: Bloomberg

The last time VIX closed this near its highs of the day was Nov 27th and VIX was also already rising that time – before spiking higher…

Source: Bloomberg

Defensives continue to lead this week’s gains…

Source: Bloomberg

While FedEx was a bloodbath, Tesla shares hit a new record high above $390 with an incredible performance (short-squeeze) in the last few months. It’s just that bonds have ignored the last push…

Source: Bloomberg

Treasury yields were higher again today, led by the long-end (30Y +4bps) as the short-end outperformed (2Y +1bp)…

Source: Bloomberg

30 Yields tracked up to test Friday’s opening highs, and rolled over. Note the pattern that keeps repeating – Asia buys bonds, Europe sells, US (late session) buys bonds again…

Source: Bloomberg

Bond yields caught up to stocks today post-trade-deal…

Source: Bloomberg

The yield curve has steepened dramatically – with 2s10s closing at its steepest since early November 2018…

Source: Bloomberg

The Dollar Index rallied once again, erasing all the Thursday night plunge…

Source: Bloomberg

Offshore Yuan continues to go nowhere, hovering around 7.00/USD despite stocks surging…

Source: Bloomberg

Cryptos had a crazy volatile day, crashing overnight (again) then panic bid back during the US day session, with Bitcoin almost erasing all the week’s losses…

Source: Bloomberg

With Bitcoin dropping to $6425 before soaring back to almost $7100…

Source: Bloomberg

After an early drop, all commodities rebounded strongly with oil leading the way after a small crude draw…

Source: Bloomberg

WTI topped $61 for the first time since September – oil is up 11 of the last 13 days, but is accelerating notably out of its uptrend channel…

 

 

Finally, markets are at “extreme greed” levels once again…

Source: CNN

And are extremely overbought on a longer-term basis…

Source: Bloomberg

Does make you wonder…

Source: Bloomberg


Tyler Durden

Wed, 12/18/2019 – 16:02


This post has been republished with permission from a publicly-available RSS feed found on Zero Hedge. The views expressed by the original author(s) do not necessarily reflect the opinions or views of The Libertarian Hub, its owners or administrators. Any images included in the original article belong to and are the sole responsibility of the original author/website. The Libertarian Hub makes no claims of ownership of any imported photos/images and shall not be held liable for any unintended copyright infringement. Submit a DCMA takedown request.

-> Click Here to Read the Original Article <-

About The Author

Tyler Durden

Zero Hedge's mission is to widen the scope of financial, economic and political information available to the professional investing public, to skeptically examine and, where necessary, attack the flaccid institution that financial journalism has become, to liberate oppressed knowledge, to provide analysis uninhibited by political constraint and to facilitate information's unending quest for freedom. Visit https://www.zerohedge.com

Leave a reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Welcome

Bringing together a variety of news and information from some of today’s most important libertarian thought leaders. All feeds are checked and refreshed every hour and pages auto-refresh every 15 minutes. External images are deleted after 30 days.

Time since last refresh: 0 second

Publish Your Own Article

Follow The Libertarian Hub

 

Support Our Work

Support the Libertarian Hub by tipping with Bitcoin!

Send BTC:
19PU2K7448gKxAvisR5cF6X5RquYfWu5vZ

Weekly Newsletter

Newsletter Signup

Subscribe to our newsletter to receive a weekly email report of the top five most popular articles on the Libertarian Hub!

Weekly Newsletter SignupTop 5 Stories of the Week

Subscribe to our newsletter to receive a weekly email report of the top five most popular articles on the Libertarian Hub!