Investors Dump Bonds, Bullion For Safety Of Biotech Stocks After Dismal China Data
By Tyler Durden
A broad-based miss across the spectrum of Chinese data with loan growth collapsing was just what the bullish algos needed to BTFD at Sunday night's open…
You knew it was going to be an odd day after China's flash-crash overnight…
Deja vu all over again from last Tuesday…No Volume meltup off VWAP
Futures show the day's reality best…
Nasdaq and Small Caps led the way today..
As VIX was smashed back to a 14 handle…
Shorts squeezed out of the gate but stopped as Europe closed…
AAPL shares gained over 4% – the best day in 4 months – after Tim Cook's selfies and Buffett's buying (as every other hedgie dumps to him)…
“Investors” dump bonds and bullion for the safe haven of Biotech stocks…best 2 days in 6 weeks…
Good job the consumer is spending… oh wait…
Treasury yields rose today – long-end underperforming…
But remains entirely decoupled from Atlanta Fed's newly revised exuberant model projections…
The USD Index ended the day practically unchanged as JPY weakness offset commodity currency strength…
Even JPY wasn't buying the stock move…
Shortly after US stocks opened, it appears someone decided it was an opportune time to dump commodities en masse.. note that Gold actually ended the day green – even after its clubbing
Crude soared on a day when Goldman downgraded it despite every idiot on TV trying to call Goldman's note bullish…oh and Nigeria
But gold and silver saw another vertical price shift – puke…
Charts: Bloomberg
Source: Investors Dump Bonds, Bullion For Safety Of Biotech Stocks After Dismal China Data
