For Goldman bulls today…
The Dollar Index surged higher today rebounding from its biggest drop since July with its biggest spike since the election today following Trump/Ross comments on NAFTA and extended by Yellen's comments late on regharding rate hikes… (and we suspect with Xi leaving Davos, China currency strength was unwound)
The Dow dropped… (The Dow is down 4 shocking days in a row – the longest losing streak since the election)
As not even Goldman Sachs could rescue bank stocks… (the last two days were the worst for Goldman since Brexit)
And Bond yields spiked most since the election…(30Y perfectly tagging 3.00%)
* * *
While The Dow ended red, Trannies and Small Caps were panic-bid into the close as USDJPY went bananas…
On the week however, all major US indices remain red…
VIX spiked to 2-week highs at the open but was quickly slammed lower…
The entire curve is now higher in yield on the week (led by the belly underperforming)…
The Dollar Index rallied back into the green for the week (led by a collapse in the loonie)…
As the dollar soared so NAFTA partners currencies plunged…
And it makes one wonder if Yuan strength yesterday was all about face-saving for Xi…
Gold broke its 7 day winning streak and dropped most in over a month…
Crude also tumbled to a $51 handle (ahead of tonight's API data)
via http://ift.tt/2joSb6m Tyler Durden