Silver as an investment

Bond Bloodbath Bashes Brainard Bounce As ‘BillionBears’ Slam Stocks

Yeah, that just happened…

 

Traders dumped bonds and stocks with vigor today…

 

USD vs risk assets…

 

Rate hike odds for September have tumbled and stocks are pushing The Fed to not raise rates…

 

But post-Rosengren, stocks are worst…

 

Risk Parity Funds are tumbling... worse drop since August crash…

 

And further today…

 

Between Singer And Dalio – investors were slapped with the ugly stick of reality…

 

On the day Small Caps were worst…

 

S&P and Dow scrambled up to unch briefly…

 

VIX biefly tagged 19.00 (we also note that S&P cash bounced prefectly off its 100DMA at 212 once again…

 

But as WSJ reports, for the first time since 1963 where the S&P 500 went at least 43 days where it didn’t have a 1% up or down day followed by three straight days where the index did move at least 1%.

 

Bonds were a bloodbath again with the long-end yields spiking 9bps – biggest spike in 7 months

 

The ugliness in the long-end over thelast few days is the biggest since Feb 2015 (but remains below ther Brexit day highs)…

 

The last 10 days have seen the fastest steepening in the yield curve 2s30s since Feb 2009…

 

But we do note that post-Brexit, the long-end remains lower in yield with the belly yields higher…

 

With all the chaos in bonds and stocks, FX markets started off slow but accelerated as the day went on (with commodity currencies slammed on crude weakness)… (USD Index ended up most in 3 weeks today)

 

Copper was flat but USD strength and seeming derisking sent crude , silver and gold lower on the day…

 

Crude was ugly again after IEA demand forecasts were cut and dragged stocks lower… (don't forget API data tonight)…

 

Charts: Bloomberg

Bonus Chart: Buy… and Hold?

h/t NewEdge's Brad Wishak