The USD is unchanged; Commodities are unchanged; and Treasury yields are up only 2-3bps… but that didn;t stop July 1st from being a banner day for US equity markets (on the back of missed PMI and ISM data). The Dow, Russell 2000, and S&P closed at record highs but sadly the Dow missed out on 17,000 by a mere 1.5 points (despite the best VIX and AUDJPY manipulation $189 billion of repo liquidity free money can buy). Stocks got their start with yet another epic short squeeze at the open then ramped higher thanks to carry to record-er highs; stalling when it seemed Dow 17,000 was elusive. VIX traded with a 10-handle once again.
Stocks on the day…
Led by a big short squeeze at the open…
Dow 17,000 so close…
And then there's this…
The USD was unchanged…
Though AUDJPY was in charge of stocks…
Along with VIX….
Treasuries crept modestly higher…
And commodities closed practically unchanged (despite some chopy vol intrday)…
Charts: Bloomberg
Bonus Chart: Camer-on-a-Stick +100% from IPO…
via Zero Hedge http://ift.tt/1nZW2jJ Tyler Durden