Bitcoin & Bullion Bid As Stocks & Bonds Skid

Overheard as stocks soared last year…

[youtube https://www.youtube.com/watch?v=zuMJBLio7FU]

Because fun-durr-mentals…

Source: Bloomberg

China rallied overnight (led by small cap tech again)…

Source: Bloomberg

European markets were more mixed today (Spain lower)

Source: Bloomberg

In the US, Dow Transports outperformed with Nasdaq clinging to unch as Dow, Small Caps, and S&P slipped lower (and in a mirror of yesterday’s close, stocks were weaker into the bell)…

 

AAPL has been stuck around $300 for the last few days as the AAPL vol decoupling may have gone too far…

Source: Bloomberg

Tesla was turbocharged again – tagging $470 record highs…

Source: Bloomberg

Pushing the TSLA market cap ever closer to VW’s…

Source: Bloomberg

Equity and credit protection has started to recouple a little…

Source: Bloomberg

Treasury yields were marginally higher on the day (long-end underperformed: 2Y unch, 30Y +2bps)…

Source: Bloomberg

30Y Yields extended their bounce off support…

Source: Bloomberg

The Dollar surged intraday, tagged Friday’s highs and faded back lower (up on the day though)…

Source: Bloomberg

Cryptos extended their post-Soleimani gains…

Source: Bloomberg

With Bitcoin spiking above $8100…

Source: Bloomberg

Silver outperformed today as crude slipped lower…

Source: Bloomberg

Gold was up on the day

But silver outperformed…

Almost erasing all of Gold’s relative outperformance YTD…

Source: Bloomberg

As risk premia was wrung out of Oil somewhat today…

 

Finally, as US-Iran tensions escalate, it is cyber-security that is getting a war premium as oil fades…

Source: Bloomberg

And The Baltic Dry (global freight) index is utterly collapsing…

Source: Bloomberg