Stocks Soar To All-Time Highs Despite Record Global Uncertainty

The biggest short-squeeze in six weeks, mirroring the mid-September rebound…

Source: Bloomberg

Sent stocks to record highs today…

Source: Bloomberg

Despite global uncertainty being at all-time record highs…

Source: Bloomberg

It’s a full Risk-Astley-tard market…

And everyone knows, you never go full Rick-Astley-tard!

While stocks reached record highs, perhaps the bigger news was the massive explosion higher in cryptos with Bitcoin up over $1200 on the day…This is the biggest daily gain for Bitcoin since April

Source: Bloomberg

Chinese stocks ended notably higher on the week after Friday’s buying spree

Source: Bloomberg

European stocks were mostly higher on the week with DAX leading the way as trade hopes revived but UK’s FTSE disappointed on Brexit progress being stymied…

Source: Bloomberg

US Equities were all higher on the week with Trannies the biggest gainer, followed by Nasdaq…

 

With S&P 500 leaving the key 3,000 behind and ramping above the closing record high (and within 0.5 points of the intraday record high)…

S&P Record Closing High 3025.86 (3027.98 intra)

Amazon’s collapse overnight sparked a panic-bid from the cash market open (NOTE – the ramp really accelerated from the US open to the EU close)…

Momo was lower for the 3rd week in a row – tumbling most since the quant quake in September…

Source: Bloomberg

VIX was monkeyhammered back to a 12 handle for the first time since July…

Source: Bloomberg

Financials outperformed the market this week, decoupling from the yield curve…

Source: Bloomberg

Treasury yields ended the week higher after their spike today with the belly underperforming…

Source: Bloomberg

30Y Yields spiked up to Monday’s highs today…

Source: Bloomberg

The Dollar ended the week higher, but well off the October highs

Source: Bloomberg

Cable sold off this week – after 3 huge weeks higher…

Source: Bloomberg

Offshore Yuan rallied for the fourth week in a row…

Source: Bloomberg

Cryptos ended the week higher after today’s huge buying…

Source: Bloomberg

With Bitcoin bouncing perfectly off its 200-day moving-average

Source: Bloomberg

Silver and Crude outperformed this week but all major commodities were higher

Source: Bloomberg

WTI topped $56 – to its highest since September…

Gold futures got back above $1500…

And silver soared back above $18…

 

Global negative-yielding debt rose very modestly this week…

Source: Bloomberg

Finally, we note that October is currently the most disappointing macro month since April 2017…

Source: Bloomberg

But then again, it’s not about fun-durr-mentals…

Source: Bloomberg