{"id":1392354,"date":"2023-08-08T20:00:00","date_gmt":"2023-08-09T00:00:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1392354"},"modified":"2023-08-08T20:00:00","modified_gmt":"2023-08-09T00:00:00","slug":"quartet-of-carnage-crushes-stocks-bonds-bitcoin-black-gold-bid","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/quartet-of-carnage-crushes-stocks-bonds-bitcoin-black-gold-bid\/1392354\/","title":{"rendered":"Quartet Of Carnage Crushes Stocks; Bonds, Bitcoin, & Black Gold Bid"},"content":{"rendered":"

Quartet Of Carnage Crushes Stocks; Bonds, Bitcoin, & Black Gold Bid<\/span><\/p>\n

\n

Futures suffered a quartet of carnage<\/strong> into today’s US open included a disappointing night of economically-sensitive EPS prints<\/strong> (UPS, CBT, CE, IFF); Chinese trade data bombed<\/strong>, with exports showing the worst decline (-14.5% YoY in July) since Feb 2020, while imports too were crunched (-12.4%) – reflecting weak domestic demand, and iterating ongoing issues with lack of consumption and investment growth in China; Italy’s surprise windfall profits tax on banks<\/strong> has spooked EUR banks and broad index; and Moody’s cuts 10 US banks<\/strong> (including \u201csuper regionals\u201d Capital One, PNC Financial Services Group and Fifth Third Bancorp) on the increased cost of funding and office exposure.<\/p>\n

But apart from that, everything is awesome in Bidenomics-land… as ‘hope’ leads (‘soft’ survey data rising as ‘hard’ economic data slides)…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

FedSpeak was ‘on message’ – high(er) for long(er)<\/strong>…<\/p>\n

0820ET *HARKER: FED MAY BE AT THE POINT WHERE IT CAN HOLD RATES STEADY, FED WILL NEED TO HOLD RATES STEADY FOR A WHILE<\/strong><\/p>\n

0855ET *FED’S BARKIN SAYS INFLATION REMAINS TOO HIGH<\/strong><\/p>\n

The result – all the US majors were in the red today. The equity indices were dumped at the US cash open then staged a recovery after Europe closed…Nasdaq was the biggest loser on the day…<\/p>\n

<\/a><\/p>\n

After the gap-down open, a short-squeeze was engineered once again…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

AAPL managed to bounce back into the green today, ending the 5-day losing streak.<\/strong> We note that AAPL found support tosay at its 100DMA (having broken below its 50-DMA last week)…<\/p>\n

<\/a><\/p>\n

0-DTE traders faded the afternoon bounce in the market again…<\/p>\n

<\/a><\/p>\n

Source: SpotGamma<\/em><\/a><\/p>\n

Italian banks were clubbed like baby seals…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

In the US, Regional banks puked on the downgrades but bounced back after a weak open…<\/p>\n

<\/a><\/p>\n

VIX (and VVIX) pumped-and-dumped today, following a similar pattern to the last few days. VIX topped 18 intraday and VVIX remains “stressed” in the 90-100 range…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Treasury bonds were bid across the curve but the long-end outperformed (as the curve bull-flattened)…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

10Y yields fell back below 4.00% intraday<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

The dollar rallied hard overnight – back up to June and July’s Payroll print levels – before fading back.<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Bitcoin ramped up towards $30,000 (again) today, after sitting around $29,000 for a week…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Another crazy day for crude with WTI dumping and pumping (back up to $83)…<\/p>\n

<\/a><\/p>\n

Gold fell back to Friday’s spike lows…<\/p>\n

<\/a><\/p>\n

Finally, it does have the feeling that we are close to a ‘sell the news’ moment in the AI-bubble…<\/p>\n

<\/a><\/p>\n

Can history really repeat?<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nTue, 08\/08\/2023 – 16:00<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/quartet-carnage-crushes-stocks-bonds-bitcoin-black-gold-bid<\/a>\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Quartet Of Carnage Crushes Stocks; Bonds, Bitcoin, & Black Gold Bid Futures suffered a quartet of carnage into today’s US open included a disappointing night…<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1392354","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-5Qdk","jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1392354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1392354"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1392354\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1392354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1392354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1392354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}