Gold Soars Most Since Brexit As Stocks, Bonds Stumble

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It seems Yellen’s desperate attempt to tell the world that the US economy is doing fantastic BUT not well enough to raise rate more than 3 times appears to have let stocks hope down. Combine that with ECB comments and uncertainty over Trump’s budget and the political ‘put’ rallied as stocks sank…

 

We’re gonna need some more hawkish jawboning – as economic growth expectations collapse – to rescue this one…

 

Early gains from the Dutch election exuberance faded for US stocks…

 

Trannies are red post-Fed

 

Nasdaq was panic-bid by the machines to end the day barely green…

 

US VIX was slammed to yesterday’s lows into the close to try desperately to get The Dow green to prove how awesome The Fed is…

 

But Europe’s VIX collapsed to record lows…

 

Crashing to match US VIX…

 

High yield bonds slipped lower as the bounce off the 200DMA fades…

 

Treasury yields rose on the day – seemingly driven by PBOC and BOJ actions more than anything specific…

 

Bonds and Stocks recoupled today after converging yesterday – once they converged – both began to sell off again…

 

Late headlines from ECB’s Nowotny sparked weakness in Bunds and compressed the Bund-UST (Futures price) spread to 5 week lows…

 

And EURUSD blew out…

 

The Dollar Index dumped post-Fed to 6-week lows

 

EUR strength offset AUD weakness today to drag the USD lower…

 

Despite USD weakness crude ended unchanged – notably weaker post-PBOC hike…

 

USD weakness and political uncertainty sparked the biggest gains for gold since Brexit. Silver and Gold both broke above key technical levels…