The White House after Trump's comments...

Overnight headlines were dominated by China's currency collapse...Offshore Yuan plunged to almost 6.81/USD...

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And that weighed on Chinese stocks...

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European stocks were mixed with DAX underperforming as Auto tariff talk reared its ugly head again...

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Trannies were panic-bid after Trump's comments but Dow, S&P, Nasdaq all closed lower...

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Nasdaq's first back-to-back loss in July...

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Dow breaks 5-day win streak.

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The biggest drop in FANGs since July 3rd...All FANG stocks red today...

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NFLX back below its 50DMA...

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Bank stocks faded today...

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Bonds and stocks remain notably decoupled...

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Treasury yields tumbled back to almost unchanged on the week today...

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10Y yields fell just over 2bps on the day - still the biggest drop since July 3rd.

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This is the 21st session in a row that 10Y yields are closing in the 2.80s.

The yield curve flattened once again...

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The big headlines were made by President Trump's comments on higher rates and The Fed, which slammed the dollar lower - only to be rescued by The White House...

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If President Trump really wants a weaker dollar, start doing more terrible stuff and lower your approval rating...

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Cryptos were mixed with Bitcoin higher and Ethereum lower...

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Gold bounced intraday as the dollar dumped on Trump's Fed tantrum...

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But Gold ended the day lower...

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But WTI bounced on Saudi comments...

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Finally, we note that the price of crash protection for the stock market is soaring...

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