{"id":1500605,"date":"2024-11-05T21:00:00","date_gmt":"2024-11-06T02:00:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1500605"},"modified":"2024-11-05T21:00:00","modified_gmt":"2024-11-06T02:00:00","slug":"election-day-exuberance-sparks-buy-all-the-things-theme","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/election-day-exuberance-sparks-buy-all-the-things-theme\/1500605\/","title":{"rendered":"Election Day Exuberance Sparks ‘Buy All The Things’ Theme"},"content":{"rendered":"

Election Day Exuberance Sparks ‘Buy All The Things’ Theme<\/span><\/p>\n

\n

Stocks up, Bonds (prices) up, Gold up, Bitcoin up, Crude up… VIX & Dollar down… as ISM Services soars on Election Day.<\/p>\n

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

All the majors were green on the day with a squeeze in Small Caps leading the way…<\/p>\n

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

Traders should not be surprised – we haven’t had a down-day on election day for the S&P 500 since 2000:<\/strong><\/p>\n

11\/3\/2020 +1.78% ELECTION DAY<\/strong>
\n11\/4\/2020 +2.20%<\/em><\/p>\n

11\/8\/2016 +0.37% ELECTION DAY<\/strong>
\n11\/9\/2016 +1.11%<\/em><\/p>\n

11\/6\/2012 +0.79% ELECTION DAY<\/strong>
\n11\/7\/2012 -2.37%<\/em><\/p>\n

11\/4\/2008 +4.08% ELECTION DAY<\/strong>
\n11\/5\/2008 -5.27%<\/em><\/p>\n

11\/2\/2004 +0.01% ELECTION DAY<\/strong>
\n11\/3\/2004 +1.12%<\/em><\/p>\n

11\/7\/2000 -0.02% ELECTION DAY<\/strong>
\n11\/8\/2000 -1.58%<\/em><\/p>\n

11\/5\/1996 +1.05% ELECTION DAY<\/strong>
\n11\/6\/1996 +1.46%<\/em><\/p>\n

11\/3\/1992 -0.67% ELECTION DAY<\/strong>
\n11\/4\/1992 -0.67%<\/em><\/p>\n

The Trump Trade saw another very small profit-taking day today as PolyMarket odds increased…<\/p>\n

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

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

NVDA overtook AAPL once again to become the world’s largest market cap company…<\/p>\n

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

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

VIX was slammed lower as the inverted curve starts to unwind into ‘less uncertainty’ (don’t forget FOMC Thursday)…<\/p>\n

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

But the vol term structure has a long way to fall from its extreme inversion as we await Thursday…<\/p>\n

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

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

“Most Shorted” stocks were a one-way street of squeeze today…<\/p>\n

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

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

BUT there was one stock that was wild today: DJT<\/p>\n

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

Treasury yields were all over the place, hurt early on by knock-on effects from a terrible auction in Gilts, then strong ISM Services pushed yields higher still only to see a strong 10Y auction slam yields back lower (and when DJT started to crack, so did bond yields)…<\/p>\n

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

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

Only the 2Y yield remains higher post-payrolls…<\/p>\n

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

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

Bitcoin, bond yields, and DJT all dumped at the same time (around 1430ET)…<\/p>\n

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

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

The dollar dived once again, back to three-week lows…<\/p>\n

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

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

Despite the intraday volatility elsewhere, gold continued to tread water around $2740…<\/p>\n

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

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

Bitcoin was a bit chaotic today, ripping back above $70,000 only to get slammed lower as DJT and bond yields slipped…<\/p>\n

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

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

Crude traded wild today. Strong open was hit by Israeli HLs (Gallant fired), but then the machines realized that Gallant was the less war-hawky one…<\/p>\n

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

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

Finally, with the election almost over, traders wil turn to Thursday’s shenanigans with The Fed…<\/p>\n

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

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

Today saw rate cut expectations slump again (50-50 chance of 1 or 2 cuts in 2024 and 50-50 chance of 2 or 3 cuts more in 2025).<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nTue, 11\/05\/2024 – 16:00<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/market-recaps\/election-day-exuberance-sparks-buy-all-things-theme<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Election Day Exuberance Sparks ‘Buy All The Things’ Theme Stocks up, Bonds (prices) up, Gold up, Bitcoin up, Crude up… VIX & Dollar down… as…<\/p>\n","protected":false},"author":0,"featured_media":1500606,"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-1500605","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-6inj","jetpack_featured_media_url":"https:\/\/bugaluu.com\/news\/wp-content\/uploads\/sites\/3\/2024\/11\/Untitled20285529-ysiszm.jpeg","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1500605","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=1500605"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1500605\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1500606"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1500605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1500605"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1500605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}