Tech Stocks Jump But Banks, Bond Yields, & Black Gold Dump

Tech stocks bounced today (perhaps on AMT chatter) sparking a chorus of confirmation-bias-based commentary that the bull is back… but we suspect that parrot is still dead…

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Ugly night in Asian equities but it appears The National Team stepped in during the afternoon to save the world…

“It ain’t cheap…”

Small Caps were today’s biggest loser as Tech-heavy NASDAQ outperformed…

For the second day in a row “Most Shorted” stocks were lower…

For the second day in a row, high tax stocks underperformed low tax stocks…

For the second day in a row, tech outperformed financials…

FANG stocks saw BTFDers at the open…

Goldman is now lower on the week post-Tax vote… after Citi cut its trading revenue outlook… and said that the tax reform would cost them $20 billion!!

High yield bonds continue to slide…

Treasury yields declined across the board today as the long-end outperformed once again… (all but 2Y yields are now lower on the week)…

And so the yield curve just keeps tumbling…2s30s hits 88bps handle today and 5s30s 57bps handle (both down 1-2bps

The Dollar Index rallied for the 3rd day in a row…

Bitcoin surged from $12,000 to over $13,000 in the last 24 hours…

Commodities are suffering across the board with crude (on target for worst week in 7 months) and copper (on target for worst week in 19 months) worst…