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That was a week...

Total chaos in FX, debt, and commodity markets and the S&P 500 ends unchanged?!!

The Dow ended the week red, S&P was manipulated perfectly to unchanged, and Trannies and Nasdaq led the surge...

From The Fed's rate-hike, Dow and S&P are red...

It's Quad-Witch so what else did you expect today? Standard 200 point insta-ramp in The Dow (and VIX-crusher algo to an 11 handle!)... all to get the S&P green for the week very briefly (2779) and run some stops...

 

The big banks ended the week - an FOMC week - red!

 

Treasury yields were extremely mixed with the short-end higher and long-end well bid...

 

10Y Yield briefly tagged 3.00% before plunging..

 

The yield curve collapsed to a new flattest level since Oct 2007...

 

In FX land, it was chaos:

  • Dollar Index's best week since US Election (Nov 2016), highest weekly close since July 2017

  • EUR lowest weekly close since July 2017

  • EM FX down 9 of last 11 weeks - lowest weekly close since Nov 2016

 

EM FX was carnage with Rand, Lira, and Peso getting pounded...

The Argentine Peso was a total disaster...

 

Despite the SEC-driven bounce, Cryptos had another ugly week - worst since March - with Bitcoin's lowest weekly close since Oct 2017...

 

Commodity markets were crazy...

  • Bloomberg Commodity Index worst week since Feb, lowest close since April

  • Gold lowest weekly close since Dec 2017

  • Silver's worst week since April

  • Oil's 4th losing week in a row - lowest weekly close since April

  • Copper's worst week since Feb

 

WTI tumbled back to a $64 handle to close the week and RBOB plunged to 2-month lows...

 

Gold and Silver were both monkeyhammered on massive volume today...

 

Gold/Silver soared back to unchanged on the week...

 

The broad commodity complex was crushed this week...