{"id":1480256,"date":"2024-07-29T20:00:00","date_gmt":"2024-07-30T00:00:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1480256"},"modified":"2024-07-29T20:00:00","modified_gmt":"2024-07-30T00:00:00","slug":"crude-crypto-small-caps-clubbed-like-a-baby-seal-as-chaotic-week-looms","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/crude-crypto-small-caps-clubbed-like-a-baby-seal-as-chaotic-week-looms\/1480256\/","title":{"rendered":"Crude, Crypto, & Small-Caps Clubbed Like A Baby Seal As Chaotic Week Looms"},"content":{"rendered":"

Crude, Crypto, & Small-Caps Clubbed Like A Baby Seal As Chaotic Week Looms<\/span><\/p>\n

\n

As the “busiest week of the summer” looms,<\/a><\/strong><\/em> VIX remained elevated…<\/p>\n

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

The plunge in Nasdaq\/Russell 2000 took a brief respite today as the latter lagged. <\/strong>Nasdaq outperformed today, bouncing off unch early on. The Dow was unch by the close…<\/p>\n

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

Goldman noted buyers on all sides:<\/p>\n

Our floor tilts +5% better to buy with HF demand slightly outpacing LO demand <\/strong><\/p>\n

HFs are +7% better to buy concentrated in demand for HCare and Tech, followed by Cons Disc, Macro Prods & Utes. Supply is concentrated in Staples and a small sell bias in Fins<\/p>\n

LOs are +3% better to buy but sector dispersion is VERY tight and in a +\/-$60mm range with Macro Prods, HCare, Comm Svcs & Energy to buy vs. Fins, Cons Disc, Indust & Utes for sale. Tech flows are dead paired<\/p>\n

…but in context, it’s a drop in the ocean…<\/p>\n

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

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

…and it mostly appears the short-squeeze ammo ran out on Small Caps…<\/p>\n

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

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

Bonds were vewy vewy quiet today with the long-end outperforming (30Y -3bps, 2Y unch)…<\/p>\n

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

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

Rate-cut expectations rotated from 2024 to 2025 but overall were quiet…<\/p>\n

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

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

But it was away from stocks and bonds where today saw some real action…<\/p>\n

The dollar spiked back above its 50DMA…<\/p>\n

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

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

Dollar’s gain was gold’s loss…<\/p>\n

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

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

Crude prices also tumbled to near two-month lows…<\/p>\n

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

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

Crypto was clobbered as the Biden admin decided to transfer $2BN of BTC from its SIlk Road stockpile. For context, that knocked BTC from $70k to $66500 (basically the lows from the weekend’s Trump address reaction)….<\/p>\n

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

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

Interestingly, ETH outperformed BTC today (albeit roundtripping its own gains)…<\/p>\n

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

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

Finally, the market is nervous about this week…<\/p>\n

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

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

“over-hedged”?<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nMon, 07\/29\/2024 – 16:00<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/crude-crypto-small-caps-clubbed-baby-seal-chaotic-week-looms<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Crude, Crypto, & Small-Caps Clubbed Like A Baby Seal As Chaotic Week Looms As the “busiest week of the summer” looms, VIX remained elevated… The…<\/p>\n","protected":false},"author":0,"featured_media":1480257,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1480256","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1480256","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=1480256"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1480256\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1480257"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1480256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1480256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1480256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}