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Manic Merger Monday Saves Stocks As China Currency Crashes To Record Low

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Mega-Mergers and Pumping PMIs...

 

 

 

 

Offshore Yuan crashes to a record low...

 

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And a huge merger with Time-Warner... (Nasdaq 100 new record high)

 

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Futures show the excitement best...

 

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Stocks ramped at the open, but went sideways from that point... (Only NASDAQ closed higher than its opening print)

 

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Nasdaq was unable to get green on the month despite the ramp...

 

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AT&T, Time-Warner both sold off on the 'deal'...

 

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GOOGL hit a new record high (along with NASDAQ 100)

 

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For the first time in 10 days, stocks managed a ramp into the close but once again VIX slid lower (to a 12 handle)...

 

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Treasury yields rose on the day - all squeezed at the same time in the pre-open...(the entire move happened between US open and EU close)

 

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The USD Index rose again to new 8-month highs led by JPY weakness

 

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Oil closed lower on the day - despite a bounce of $50 - copper and silver closed higher...

 

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$50 was defended aggressively...

 

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Again...

 

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Silver spiked - running stops - before plunging back...

 

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Charts: bloomberg

 

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