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Sudden Selling Panic Sends Stocks Reeling On Dollar’s Best Week Since Lehman
ZeroHedge
VIX Smashed, Euro Trashed, Bonds Cashed, Stocks Dashed… and Markets BREAK!!!1517ET BATS BYX HAS DECLARED SELF-HELP AGAINST NASDAQ
In case it was unclear from all the positive spin post-Yellen speech… (h/t @jonvthvn)
On the day – it was very quiet with some excitement around a hot CPI and not-hot Janet Yellen
Everything might have been awesome for The Nasdaq and Small Caps high-beta buffonery, but Trannies werer trounced on the week…
Sectors were very mixed on the week…
While cash looks relatively stable… the serious swings in the equity markets are much clearer when looking at futures…
NOTE - just look again at the week in cash and the week in futures… now look at VIX!
VIX was smashed to an 11 handle – lowest since early December…
Before it started to rip back higher and so th emarket broke…
Treasury yields ended the week higher – jumping notably after today’s CPI data…(but note the flattening of the curve – 5Y notably underperforming 30Y)
The USDollar rose well over 3% this week – its best week since Lehman…
Led by a 4%-plus collapse in the Euro – its worst since Lehman…
The USD strength kept commodities under pressure (with copper worst)… higher than expected inflation – sell Gold!
Crude had another magical v-shaped recovery week…
Charts: Bloomberg
Bonus Chart: Did the Microsoft curse strike again?
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