“Worst Start To Year Since 2008” But Stocks Bounce On Crude Squeeze, Central Bank Hopes

There’s always hope…

Summing the week up perfectly…

Something gotta stick… pic.twitter.com/19pzRhdaGw

— Chicagostock (@Chicagostock) January 22, 2016

As a reminder, this is still the 2nd worst start to a year ever…

And yet propagandists are proclaiming victory?

Of course it was all about Crude’s recovery… From the $27.56 lows on Wednesday, WTI March crude oil futures contract is up nearly 20% in just over 48 hours…

Enabling a v-shaped recovery in stocks…

With all major indices closing green for the week…

2016 still ugly…

AAPL soared 5.2% today alone!! Running stops above the last week’s highs…

HYG V-Shaped recovery…

Not everybody was loving it – Treasuries were bid despite today’s euphoria…

On the week, Treasury yields v-shape recovered back to slightly higher with the belly underperforming… Bonds undergo The Batman Pattern!!!

Today’s weakness in JPY and and EUR (following moar ECB and BOJ blather from Davos) left The USD Index notably higher on the week…

Leaving The USD Index at 8 week highs…

And despite the USD strength, all commodities closed the week green with crude’s epic melt-up making it the outperformer…

Charts: Bloomberg