Gold, Bonds, & Stocks Rip After 'Bad’ Data On 'Quietest Day Of The Year’

1 tydzień temu

An ugly jobless claims print was the day’s early catalyst sending yields significantly lower, stocks, gold, oil, and crypto higher and the dollar down with rate-cut expectations re-ignited…

Source: Bloomberg

A dovish shift supported stocks – which had a „squeezey feel” amid very low liquidity…

Source: Bloomberg

Goldman’s trading desk noted that while yesterday was the lightest notional session all year in the US, today is looking to be even slower (tracking down -2% vs. yesterday), which probably helped the liftathon…

The Dow and Small Caps led the way – up almost 1%, and Nasdaq lagged on the day – barely holding on to green…

This was The Dow’s seventh straight daily gain – the longest win streak since July 2023.

And both Hedge Funds and Long-Onlys were sellers today (which leaves buybacks – as we predicted – to save the market)…

HFs are -7% for sale and lean better for sale in every sector ex- Cons Disc & Macro Products. Supply is most pronounced in Info Tech & Utes which when combined, make up 2/3 of overall HF net supply.
LOs are -11% for sale with notable supply in Fins & REITs while HCare, Mats, Indust & Info Tech are also net for sale. Demand is modest across Cons Disc, Utes & Macro Products

MAG7 stocks spent a third day going nowhere…