Jump to content

Sign in to follow this  
News Feeds

Crude Cruises To 1-Month Highs But Dudley Damages Stocks & Bonds

Recommended Posts

This seemed appropriate for today... (you're welcome)





Before we start - today's big moves were driven by Fed's Dudley spewing some shit about time to hike rates this year soon.. everything is awesome... etc... So explain this idiocy Dudley!!






Ok, having got that off our chest, stocks shockingly did not end higher... and puked into the close...






S&P and VIX danced their odd jig once again today - noticed the compression in S&P and VIX around 1200ET and the tiny downtick in VIX that snapped the 'pennant' pattern creating a false breakout which rapidly got sold...






S&P managed to stay out of the twilight zone for now...






Dudley sparked the initial bond/stock dump, dollar jump but weak data left everyone wondering what to do...






Every small ramp in stocks was sold at VWAP (suggesting institutional sell orders in the market...and volume was above average






Treasury yields spiked after Dudley's comments...






Financials continue to ignore the curve flattening...






The USD Index was weak overnight as Yen strengthened, then jumped on Dudley then faded on crap data...






As Dudley spoke and the USD ramped so commodities were clubbed like baby seals...






but oil was having none of that malarkey...






Finally, crude just keeps on going... despite Russia, Nigeria, and now Iran confirming no output freeze is coming...






Charts: Bloomberg





Continue reading...

Share this post

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

Sign in to follow this