{"id":1493322,"date":"2024-10-01T20:00:00","date_gmt":"2024-10-02T00:00:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1493322"},"modified":"2024-10-01T20:00:00","modified_gmt":"2024-10-02T00:00:00","slug":"strikes-missiles-dockworkers-spark-surge-in-oil-gold-bonds-big-tech-bitcoin-battered","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/strikes-missiles-dockworkers-spark-surge-in-oil-gold-bonds-big-tech-bitcoin-battered\/1493322\/","title":{"rendered":"Strikes (Missiles & Dockworkers) Spark Surge In Oil, Gold, & Bonds; Big-Tech & Bitcoin Battered"},"content":{"rendered":"

Strikes (Missiles & Dockworkers) Spark Surge In Oil, Gold, & Bonds; Big-Tech & Bitcoin Battered<\/span><\/p>\n

\n

Today’s mixed macro picture<\/strong> (construction spending down, National Manufacturing surveys and Dallas Fed in contraction offset by surge in JOLTS) was overwhelmed by Strikes<\/strong> (from Iranian missiles and American longshoremen).<\/p>\n

The widespread union strike deadline passed and bond markets shifted lower in yield on that news overnight.<\/strong> Then as Iranian missiles rained down on Israel, investors poured into safe-havens (bonds, gold) and dumped stocks as oil prices re-discovered geopolitical risk premium.<\/p>\n

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

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

Treasury yields were all bid today, but are mixed on the week with the short-end significantly underperforming…<\/p>\n

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

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

Gold was also bid as safe-haven (erasing all of yesterday’s losses)…<\/p>\n

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

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

The dollar strengthened significantly on the day (more safe haven flows perhaps)…<\/p>\n

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

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

Oil prices surged higher on the missile launches with WTI reaching almost $72 before pulling back a little.<\/p>\n

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

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

Stocks lurched lower on the Iran-Israel headlines – led by Small Caps and Mega-Cap Tech – but once Europe closed, the algos started trying to BTFD. The momentum did ignite but failed to get any of the majors green before some late-day profit-taking from 0-DTEs dragged everything down again…<\/p>\n

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

VIX and VVIX both surged higher today…<\/p>\n

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

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

Bitcoin continued to serve its role as an anti-geopolitical risk asset – dumping every time a MidEast headline hits the Bloomberg terminal (which makes little to no sense to us… but hey we don’t have PhDs)…<\/p>\n

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

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

It seems BTC and Big-Tech are joined at the hip again for now…<\/p>\n

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

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

Finally, as Bloomberg reports, while investors are focused on policy cues (and liquidity infusions), earnings momentum has turned negative and could be a drag on stocks<\/strong> if it doesn\u2019t improve with the upcoming earnings season.<\/p>\n

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

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

Buy hey, for now liquidity is all that matters…<\/p>\n

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

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

…until it doesn’t!<\/em><\/p>\n

And there’s some liquidity stress in the banks’ plumbing…<\/strong><\/p>\n

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

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

Let’s just hope it’s quarter-end window-dressing (but this is one to keep an eye on).<\/p>\n

Is that why USA Sovereign risk is also spiking…<\/strong><\/p>\n

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

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

Probably nothing..<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nTue, 10\/01\/2024 – 16:00<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/strikes-missiles-dockworkers-spark-surge-oil-gold-bonds-big-tech-bitcoin-battered<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Strikes (Missiles & Dockworkers) Spark Surge In Oil, Gold, & Bonds; Big-Tech & Bitcoin Battered Today’s mixed macro picture (construction spending down, National Manufacturing surveys…<\/p>\n","protected":false},"author":0,"featured_media":1493323,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1493322","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\/1493322","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=1493322"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1493322\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1493323"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1493322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1493322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1493322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}