“Sell The News”? Stocks, Dollar, & Bond Yields Slide After Signing Trade Deal

Is the market about to hit a speedboat bump?

China was down overnight…

Source: Bloomberg

European markets closed lower on the day…

Source: Bloomberg

US markets slid notably after the US-China trade deal was signed, but the algos were determined to keep stocks green on the day…

The Dow topped 29k once again, Trump mentioned it, and efforts were engaged to keep it there for the first close above the line…

Defensives continue to dominate cyclicals…

Source: Bloomberg

“Off”-Target…

Source: Bloomberg

More bank earnings did nothing for WFC but JPM and C erased some of yesterday’s gains…

Source: Bloomberg

Credit markets were notable laggards today…

Source: Bloomberg

Treasury yields were lower across the curve with the long-end outperforming (2Y -1bps, 30Y -4bps)…

Source: Bloomberg

30Y Yields closed at their lowest in over a month…

Source: Bloomberg

The yield curve continued to flatten significantly…

Source: Bloomberg

The Dollar drifted lower but still in a tight range…

Source: Bloomberg

Cryptos extended the week’s solid gains, led by Bitcoin Cash…

Source: Bloomberg

Bitcoin accelerated to two-month highs, breaking above its 100- and 200DMA…

Source: Bloomberg

Bitcoin is off to its best start to a year since 2012…

Source: Bloomberg

PMs outperformed as crude and copper drifted…

Source: Bloomberg

Oil continued to sink (on IEA fears and major product inventory builds)

And as oil sinks, HACK (the cybersecurity ETF) shows the real Iran risk trade…

Source: Bloomberg

Gold rallied back above pre-Soleimani levels…

Finally, there’s this…

Source: Bloomberg