Stocks Flat, VIX Up As Emerging Market Rout Returns

Record-er and Record-er…

China stocks limped lower overnight but ended unch thanks to a late surge…

 

But US equities could not hold a solid momo ignition no matter what…

 

With cash equities sliding into the red near the close… (Nasdaq was the day’s leader, and Trannies the laggard)

 

VIX has decoupled from stocks in the last two days…

 

Things are not getting any better for Elon…

 

Bonds and Stocks remain decoupled also…

 

Treasury yields continued their rise…

 

With 30Y back above 3.00%…

 

The Dollar Index rebounded into the green this afternoon

 

EM FX was ugly…

 

LatAm currencies were clubbed today (less so Asia and Eastern Europe)…

 

But The Turkish Lira, disappointed after the Germany bailout headlines turned into nothing, tumbled…

 

Yuan and stocks have decoupled…

 

Cryptos are rallying strongly today…

 

With Bitcoin up for the 4th straight day, back about $7,000…

 

In commodity-land, things went a little pear-shaped as the dollar rebounded today…

 

*CME HOG FUTURES FOR OCTOBER TUMBLE 5.3%, HEAD FOR RECORD DROP

 

Gold tested down to $1200 today…

 

Still, while US Stocks went nowhere, maybe ‘active’ investors should consider Venezuela (IBVC +30,000% YTD!)

And yes we know its all FX

via RSS https://ift.tt/2wrAdHj Tyler Durden

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