Remember Wednesday night… after Facebook crushed it…
Overheard behind the scenes at CNBC today…
US Macro suffered its 4th weekly drop in a row and earnings expectations continue to weaken…
Stocks globally were a mess after The BoJ "shock"… NKY down 1700 points
Europe's worst week in 3 months
And US equity market's worst week in almost 3 months…
Futures from the Wednesday cash close show the chaos best… from The Fed to Facebook to Kuroda and from dismal macro to Icahn…
The panic-buying at the end managed to get S&P green for April…
Year-to-Date, Small Caps joined Nasdaq back in the red and The S&P gave up most of its gains… (and then a very late-day buying panic managed to get Russell 2000 to unchanged)
Financials were weak but Tech was a big loser on the week…
XLF – the US Financials ETF – broke back below its 200-day moving-average…
And after rushing into the safety of Biotechs in the last few weeks, they were monkey-hammered this week (down 7.5% – worst week since the first week of the year) testing its 50-day moving-average..
AAPL's worst week since Jan 2013 (and before that since Lehman in 2008) as the "no brainer" has fallen for 10 of the last 11 days…
VIX surged this week above 17… before The PPT stepped in stomped on its throat at the 330RAMP…
And while we prefer not to use percentage change, this week was VIX's biggest jump since the first week of the year, closing back above its 50-day-average for the first time since early Feb…
For the month of April Crude and Silver were the best performers, Dow flat…
The long-bond yield ended modestly lower on the week but underperformed relative to the belly which dropped 7-8bps…notably the gains for Treasuries accelerated into the close (the trend of selling bonds into and through the US open continues)
USD Index has fallen for 5 days in a row… big movers were yuuge Yen strength (after The BoJ) and AUD weakness (record lowflation)
This was the worst week for Bloomberg's USD Index since March 2015…
As Yen just had its biggest 2-day rally since Lehman…
As USDJPY accelerated lower into the close…
The USD weakness spurred comnmodities higher generically with even Copper managing toi get green after major selling pressure from China's unwind…interesting how uniform the gains in crude and PMs were on the week…
Despite today's rollercoaster, oil closed at its highest weekly close since Thanksgiving, up 4 weeks in a row (over 20% off the Doha Dip lows)…
Gold's 2nd best week since Oct 2011 (to $1299), Silver up 4 weeks in a row (topping $18)…
Charts: Bloomberg
via http://ift.tt/1WvW8UZ Tyler Durden