“They’re Selling Everything” – Bonds, Stocks, Oil, Gold, & Dollar All Tumble

“Probably nothing…”

ECB Minutes spoiled the bond party… when does it become a full blown tantrum…

Bund puking rippled… via risk-parity deleveraging – through European stocks, European bonds (not helped by ugly auctions in France, Spain), US Treasuries and into US stocks… And then dismal ‘hard’ data (and positively surprising ‘soft’ data) didn’t help as oil’s bounce on inventories provided some brief hope… but even that didn’t last once the market saw the craziness in Hamburg.

Shit’s getting real in Risk-Parity Unwind land…

Not a pretty day for stocks… Small Caps worst day in 2 months

Or bonds…

FANG Stocks tested the lows once again, bounced, then faded into the close…

Tesla bulls are having a bad week…the ‘carmaker’ is poised for its worst week since February 2016. A string of bad news has sent the electric automaker’s shares skidding for a third consecutive day, leaving the 2nd biggest US automaker in a bear market…

Nasdaq ‘risk’ started to spread to VIX…

Treasury yields continued to rise… but the long-end is underperforming..

With 30Y breaking above two key technicals…

And the 2s30s curve has steepened to its post-Fed rate-hike highs…

The Dollar also fell once again…

Driven by strength in EUR (which sent Bund yields spiking) on ECB Minutes…

Despite bullish data from API and DOE, WTI/RBOB prices struggled to hold gains…

Notably, WTI reversed right at its 50DMA…

Gold rallied early on to test its 200DMA at $1231 but rejected that to end lower…