Herd mentality?
Gold remains 2017's big winner, Crude the big loser and The Dow in the red…
In fact The Dow and Small Caps are now red YTD…
Intraday saw a notable spike in VIX and dump in stocks…
Which was reflected in the biggest negative TICK of 2017 (and 2nd biggest since the election)
Down for the 5th day in a row, The Dow dropped to six-week lows…more than 300 points from Dow 20k… Aside from Fed rate hike day, this is the heaviest volume day since September
Banks were down again with Goldman leading the losses – down 6.5% from Friday's spike open…
The dollar index traded in a relatively tight range today (with some action in EURUSD on Draghi dovishness) but ended the day lower…
After a terrible start Cable remains the week's biggest winner against the greenback and the loonie the biggest loser…
While stocks fell on the day, bonds also fell alongside them for the second day in a row… (Risk Parity funds are down the last 2 days – deleveraging?)
But 30Y rallied modestly back as the dollar faded…
As The Dollar faded, so Gold rallied back into the green above $1200… (up 8 of last 9 days)
Gold and silver remain lower post-Trump but Palladium still seems Trump-proof…
Crude tested back to a $51 handle once again as Saudi jawboning failed to inspire as inventories surged…
via http://ift.tt/2k8byDK Tyler Durden