Treasuries rallied 4-6bps on the day (with the POMO-driven belly outperforming). The USD dumped back its knee-jerk gains on Europeans trying desparately to talk down the EUR early on. High yield credit banged higher into the close. VIX was man-handled back under 12.5% (despite being bid early). Oh – and every US equity market malted up in an insane intrday swing which seems to be pinned on the back of expctations Yellen will open her shirt tomorrow showing a big red "S" on it. So while every flow-driven market banged higher in a mad scramble of un-tapery goodnesss, gold went sideways and silver was monkey-hammered (-4.5% on the week). The last 3 days have seen "most shorted" names double the market's performance. Nasdaq's swing from low to high is the largest positive intraday move for the index in 5 months!
Squeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeze…
ok – you had your fun…
The S&P just did not stop…opening at the lows of the day and closing at the highs… (NASDAQ cash saw 66 point swing)
Off the Debt-ceiling lows – it's actually just kinda funny…
With today looking like nothing but a huge capitulation jerk…
Treasuries rallied too…
And the USD dumped…after Europeans tried their best to jawbone it higher…
But silver was slammed and gold flatlined…
Charts: Bloomberg
     |
via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/TejCn3KbPPo/story01.htm Tyler Durden