“Extreme Greed” Trigger’d – Short-Squeeze Lifts Stocks To New Record Highs

“The only way is up…”

China continued to surge after the ‘deal…

Source: Bloomberg

Mixed picture in Europe today with the FTSE tumbling along with DAX as Italy managed gains…

Source: Bloomberg

US markets were broadly higher led by Small Caps…

 

Since “Phase One” of the US-China deal was supposedly complete on Oct 11th, can you spot the odd one out?

Source: Bloomberg

All of which began when The Fed started expanding the balance sheet dramatically…

Source: Bloomberg

Another day, another mega short squeeze…

Source: Bloomberg

Cyclicals outperformed on the day but the gains were all at the open…

Source: Bloomberg

US equities seem a lot more excited about the trade deal than yuan…

Source: Bloomberg

Credit markets have compressed dramatically in the last few days…

Source: Bloomberg

Treasury yields were higher across the curve, marginally at the short-end and around 2bps at the long-end…

Source: Bloomberg

The yield curve steepened back to pre-FOMC Minutes levels…

Source: Bloomberg

Despite President Trump’s exclamations this morning, the dollar closed marginally higher…

Source: Bloomberg

Pushing the dollar back to unchanged on the year…

Source: Bloomberg

Cable erased all the post-election gains…

Source: Bloomberg

Cryptos were clubbed like baby seals again today with altcoins notably underperforming Bitcoin…

Source: Bloomberg

Oil was the day’s big winner as Silver slumped along with copper and gold…

Source: Bloomberg

Oil prices surged intraday extending gains after better than expected manufacturing production data (ahead of tonight’s API inventory data) testing within a tick of $61…

And as oil rallied, silver sank…

 

 

Finally, as a reminder, the S&P is up almost 28% YTD while earnings expectations have tumbled around 5%…

Source: Bloomberg

And the market – if that’s what you want to call it – has surged back to “extreme greed” once again…

Source: CNN

Thanks to The Fed only…

Source: Bloomberg