Perhaps this sums up the day for many FX, bond, equity, and oil traders today…
Incredible Volatility today – 100 point roundtrip in the S&P, and 800 points in the Dow – all driven by a halt in Ruble Trading, the European close, and Kuwait pissing on the US market's fireworks…
And the volatility was incredible across the entire US equity market – as the S&P ramp ran stops to yesterday's highs then gave it all back...again around the EU close
A massive roeundtip in cash markets…
The Russian markets dominated headlines…
but the US credit markets were more worrisome as it appears the risk has finally started to appear in the investment-grade credit market.
High yield bond yields hit 2-year highs… and spreads to 18 month wides…
And Investment Grade credit has become infected…
Every asset class underwent a roller-coaster…
Treasury yields fell 10ps, rose 10bps then fell 8bps…
Silver and Gold pumped and dumped.. as oil dumped and pumped and dumped…
Across the asset classes today – these were the events…
Finally we wonder… who was this mysterious $3.7 billion trader today…
Take a look at these 31 $SPY trades today worth $3.7 billion. Anyone know what they are from? http://ift.tt/1ztecTo
— Eric Scott Hunsader (@nanexllc) December 16, 2014
But don;t forget…
— Not Jim Cramer (@Not_Jim_Cramer) December 16, 2014
Charts: Bloomberg
via Zero Hedge http://ift.tt/1A6QltP Tyler Durden