Late-Day VIX-Clubbing Saves Stocks From Gas-mageddon
By Tyler Durden
So oil crashes to 2mo lows, DB hits record lows, and BMPS crashes…
Starting where we normally finish, the energy complex carnage this week has been a big factor with today's WTI crash the biggest in 5 months, weighing notably on stocks…
Plunging to 2 month lows… finding support at the intersection of its 100- and 200-dma…
And RBOB's 3-day crash is among its biggest ever… (on the heels of a very disappointing inventory print for the bulls)
With something snapping in Oil VIX land…
All about DOE today…
So apart from that… oh and a renewed collapse in European financials…
Everything is awesome-ish, stocks ended the day lower (after Nasdaq managed briefly to get back to green post-Brexit)…
On the day, S&P and Dow ended red with Trannies best – all bouncing after 15ET…
And once again VIX was monkey-hammered back to a 14 handle (well why not right – only payrolls tomorrow!!) to achieve S&P 2,100…all after NYMEX closed…BUT FAILED AGAIN!
Treasury yields were mixed with the short-end underperforming, leaving 2s30s 8bps flatter on the week…
But bonds and stocks remain massively divergent ahead of payrolls tomorrow…
The USD Index rose modestly on the day…
Commodities were all lower on the day, led by crude, but silver got clubbed early…
Silver was slammed early on today…
Charts: Bloomberg
Source: Late-Day VIX-Clubbing Saves Stocks From Gas-mageddon
