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VIX-Slam Saves Stocks From China Turmoil As Copper Crashes

Thursday, October 13, 2016 13:39
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An oldie but a goodie… Didn’t work today…

China’s return from Golden Week combined with a dismal dump in ist trade data overnight has seenYuan volatility back on the rise…

Stocks are the biggest losers post-Fed Minutes…

Crude inventories rose, jamming oil lower, and then the narrative changed on the build (it was an imaginary build that was actually a yuuge draw) and oil ripped back above $50 and supported stocks…

Dow dipped below 18,000 but as Europe closed VIX was smashed lower and 18,000 was rescued…

Total desperation was unleashed to get stocks back into the green on the day.. but it failed…

Notably, the S&P 500 closed below its 100DMA for the 3rd day in a row – not happened since Feb…

Treasury yields fell on the day with the shorter-end back to unchanged on the week (2s30s slightly steeper)…

The USD Index fell for the first time in 6 days..

Copper was clubbed as Crude bounced and gold gained…

Copper was the biggest deal today but the dump’n'pump in crude was just farcical…

Leaving Copper at one-month lows…

Charts: Bloomberg

Bonus Chart: It appears the market is growing increasingly concerned at Hillary’s lead…


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