No excuse needed…
This seemed to sum the talking heads up today…
Everyone who loves the ECI index is now searching for another index to like
— GreekFire23 (@GreekFire23) July 31, 2015
Everything was awsome today after the worst wage growth in US history sent stocks soaring.. and then they unleashed The Bullard:
Complete chaos today…
With cash indices ending mixed (Nasdaq desperately clinging to green and Small caps ripped on biotech reach for safety lol!!!)
A complete disconnect between yields and stocks until Bullard spoiled the party…
Today across bonds, stocks, and gold…
Stocks were rolling over hard and then…
And so VIX was slammed…to ensure S&P holds the all-important 2100 level…
* * *
Year-to-Date… Dow's down, Bonds down-er, Crude down-est… as The US Dollar is up 7.5%…
Trannies are still the big laggards with Nasdaq leading…
Led by healthcare (Biotechs) as Energy remains the biggest loser…
* * *
It was quite a month!!
Bonds hot, commodities cold, stocks meh…
Bonds had their best month since January… (TLT +4.3%) – 2s30s biggest flattening (-23bps) since January
Stocks managed – after this week's epic surge – to get into the green for July…Trannies best month since Feb (up 4.1%) but Small Caps (Russell 2000) fell for the first time since April…
Commodities worst month since Sept 2011… to the lowest since April 2002
