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Stocks Surge To Best Start In 30 Years; Bitcoin, Bonds & Dollar Battered

Friday, January 12, 2018 15:25
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Just “buy” – everyone else is… what could go wrong?

 

It’s been an interesting year so far… equities are unstoppable, the dollar is tanking, gold is soaring, and bonds are tumbling…

 

https://www.zerohedge.com/sites/default/files/inline-images/20180112_eod1.png

 

This is easy… US Equities have ‘suffered’ only one down day in 2018 so far (in fact Trannies haven’t seen one down day)…

 

https://www.zerohedge.com/sites/default/files/inline-images/20180112_eod24.png

BTFD!!

 

https://www.zerohedge.com/sites/default/files/inline-images/20180112_eod25_1.png

Putting this move in context:

  • Trannies best start to a year since 1983
  • S&P best start since 1987
  • Dow best start since 1997
  • Nasdaq best start since 2004

 

“Never gonna let you down”

https://www.zerohedge.com/sites/default/files/inline-images/20180112_eod12.png

The Dow is up 1060 points in 2018 – 5 names account for more than half those gains (BA, CAT, IBM, MMM, and UTX added 555 points!)

 

https://www.zerohedge.com/sites/default/files/inline-images/20180112_eod22.png

VIX traded back above 10 today again, rising with stocks, and VIX has entirely decoupled from stocks…

 

https://www.zerohedge.com/sites/default/files/inline-images/20180112_eod23.png

 

Banks had a good week (despite dismal earnings) but Wells ended red…

https://www.zerohedge.com/sites/default/files/inline-images/20180112_eod21.png

 

Facebook took the shine off Nasdaq a little today, tumbling after Zuck’s censorship comments…

 

https://www.zerohedge.com/sites/default/files/inline-images/20180112_eod18.png

But thanks to panic-buying in NFLX and AMZN, FANG Stocks exploded higher off-the-lows today…

 

https://www.zerohedge.com/sites/default/files/inline-images/20180112_eod19.png

 

And while stocks are surging, Treasuries are tumbling – suffering the biggest total return loss since 2006… (worst 2 week drop in 3 months)…

https://www.zerohedge.com/sites/default/files/inline-images/20180112_eod2.png

Yields ended the week higher across the curve, but look at the strength in the long-end the last 3 days…

 

https://www.zerohedge.com/sites/default/files/inline-images/20180112_eod13.png

After steepening dramatically after the China headlines, the yield curve collapsed back flatter to end the week unchanged…

 

https://www.zerohedge.com/sites/default/files/inline-images/20180112_eod15.png

2Y Yields topped 2.00% for the first time since Sept 2008…

 

https://www.zerohedge.com/sites/default/files/inline-images/20180112_eod16.png

 

2Y Yields are now 18bps higher than the dividend yield of the S&P 500…

 

https://www.zerohedge.com/sites/default/files/inline-images/20180112_eod17.png

High yield bonds had the worst week in the last 6, decoupling from stocks…

 

https://www.zerohedge.com/sites/default/files/inline-images/20180112_eod20.png

 

The dollar plunged most since March 2017 today to the lowest in 4 months... (5th week down in a row)

https://www.zerohedge.com/sites/default/files/inline-images/20180112_eod10.png

 

One wonders if this is the short-term low?

 

https://www.zerohedge.com/sites/default/files/inline-images/20180112_eod11.png

 

Cryptos have had a volatile start to the year with Bitcoin, Ripple, and Litecoin all holding around unch while Ethereum is up 65%…

 

https://www.zerohedge.com/sites/default/files/inline-images/20180112_eod3.png

This week saw Ripple crash 30%, and Bitcoin dropped around 19% – the worst week since Jan 2015

 

https://www.zerohedge.com/sites/default/files/inline-images/20180112_eod4.png

 

The last few years have seen Bitcoin show seasonal tendency to drop into mid-to-late January before picking up into the summer…

 

https://www.zerohedge.com/sites/default/files/inline-images/20180112_eod5.png

In commodity land, copper ended the week lower but Crude and PMs surged today as the dollar collapsed…

 

https://www.zerohedge.com/sites/default/files/inline-images/20180112_eod9.png

 

Gold surged today – its best day since August – and is up 5 straight weeks…Gold futures hit $1340 for the first time since September 14th…

 

https://www.zerohedge.com/sites/default/files/inline-images/20180112_eod7.png

Normalized for vol, gold has decoupled higher relative to bitcoin…

 

https://www.zerohedge.com/sites/default/files/inline-images/20180112_eod14.png

 

WTI Crude bounced back above $64 today as the dollar plunged…

 

https://www.zerohedge.com/sites/default/files/inline-images/20180112_eod8.png

 

And Spot Palladium surged to a new record high…

 

https://www.zerohedge.com/sites/default/files/inline-images/20180112_eod6.png

 

Bonus Chart: All-In Bitches!!!



Source: http://silveristhenew.com/2018/01/12/stocks-surge-to-best-start-in-30-years-bitcoin-bonds-dollar-battered/

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