{"id":1500403,"date":"2024-11-04T21:00:00","date_gmt":"2024-11-05T02:00:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1500403"},"modified":"2024-11-04T21:00:00","modified_gmt":"2024-11-05T02:00:00","slug":"bonds-bid-bitcoin-skids-as-traders-take-profits-on-trump-bets","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/bonds-bid-bitcoin-skids-as-traders-take-profits-on-trump-bets\/1500403\/","title":{"rendered":"Bonds Bid, Bitcoin Skids As Traders Take Profits On ‘Trump’ Bets"},"content":{"rendered":"

Bonds Bid, Bitcoin Skids As Traders Take Profits On ‘Trump’ Bets<\/span><\/p>\n

\n

The equity market was mixed today with The Dow lagging and Small Caps leading (S&P\/Nasdaq modestly lower) ahead of tomorrow’s big day. NOTE the drop in the morning was reportedly triggered by WSJ HLs that Russia is suspected of a plot to send incendiary devices on US-bound planes, citing Western security officials, but that was quickly BTFD back…<\/p>\n

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

The bigger theme of the day was profit-taking on the so-called “Trump Trade”<\/strong> after extreme outpereformance of the Kamala basket in recent weeks…<\/p>\n

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

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

VIX ended the day notably elevated <\/strong>with the vol term structure extremely inverted<\/strong> ahead of this week’s extreme event risks…<\/p>\n

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

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

…in fact this is the VIX’s longest stretch above its 200dma since 2019…<\/p>\n

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

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

For the first time since early 2019, VIX Specs are net long futures…<\/p>\n

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

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

Maybe this is more than an election-uncertainty trade… maybe it’s structural…<\/p>\n

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

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

Mega-Cap Tech fell once again today but has found support for now…<\/p>\n

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

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

After Friday’s utter chaos in bond land, reality set in that piss poor payrolls means lower yields and Treasury yields tumbled across the board with the long-end outperforming (2Y -3bps, 30Y -8bps). Yields are still marginally higher from Thursday’s close…<\/p>\n

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

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

The 10Y yield ended back at pre-payrolls levels…<\/p>\n

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

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

The dollar continued to drift lower (ignoring the manic buying after payrolls)…<\/p>\n

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

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

Arguably another “Trump Trade” continues to build as the Mexican Peso plunges to its weakest since Sept 2022<\/p>\n

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

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

Despite the dollar weakness, gold trod water today, holding just above support around $2730…<\/p>\n

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

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

Bitcoin fell again after tagging record highs last week. BTC is finding support in the $67-68k region for now<\/p>\n

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

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

Oil prices rallied (with WTI back up near $72), erasing last week’s plunge on Israel-Iran optics…<\/p>\n

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

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

With oil prices rising again, we wouldn’t question you for being surprised that pump-prices are testing multi-year lows (right ahead of the election)… probably nothing, right?<\/p>\n

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

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

Finally, what happens to USA Sovereign Risk tomorrow?<\/p>\n

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

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

From 12-month highs – will a divided govt soothe the pain?<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nMon, 11\/04\/2024 – 16:00<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/market-recaps\/bonds-bid-bitcoin-skids-traders-take-profits-trump-bets<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Bonds Bid, Bitcoin Skids As Traders Take Profits On ‘Trump’ Bets The equity market was mixed today with The Dow lagging and Small Caps leading…<\/p>\n","protected":false},"author":0,"featured_media":1500404,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1500403","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\/1500403","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=1500403"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1500403\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1500404"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1500403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1500403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1500403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}