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

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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!!

 

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

 

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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...

 

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

 

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

 

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

 

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Treasury yields spiked after Dudley's comments...

 

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Financials continue to ignore the curve flattening...

 

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

 

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

 

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but oil was having none of that malarkey...

 

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

 

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Charts: Bloomberg

 

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HL1Xpzkt-To

 

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