Stocks & The Dollar Gain On ‘Good’ News; Bitcoin, Bullion, & Black Gold Sink

Philly Fed beat, jobless claims beat, PMIs beat… but with soaring prices, Leading Indicators beat, and existing home sales beat… all good news…

Source: Bloomberg

That good news reduced expectations for rate-cuts in 2024…

Source: Bloomberg

Stocks extended yesterday’s gains on the good news… but Nasdaq was hit during the day on the heels of the AAPL news…

AAPL was clubbed like a baby seal on the regulatory crackdown…

Treasuries were mixed with the short-end lagging after yesterday’s outperformance, (2Y +4bps, 30Y -1bps) with only the long-end still higher in yield on the week…

Source: Bloomberg

The dollar rebounded, retracing almost all of yesterday’s losses…

Source: Bloomberg

Another net outflow (3rd in a row) from BTC ETFs yesterday…

Source: Bloomberg

…and the crypto-currency was sold today…

Source: Bloomberg

Oil prices dipped for a second day – despite bond yields higher and growth being positive…

Source: Bloomberg

Gold retraced much of yesterday’s spike gains…

Source: Bloomberg

Finally, which comes first: Nasdaq 17,000 or 10Y 4.0%…

Source: Bloomberg

…before or after the election?