Government Un-Shutdown Sends Stocks To Record Highs, Bonds "Most Oversold" In 13 Months

"Don't worry, be happy"...

Video length:00:04:49

While stocks soared to new record highs, the dollar was completely unexcited and bonds ended the day unchanged...

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Spot the odd one out...

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US Equity futures show the immediate selling pressure at Sunday's open (the shutdown occurred after the close Friday)... a panic bid at the US cash open... and then another leg higher on the actual Senate vote... and the ubiquitous melt-up into the close...

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But record highs for all four major US equity indices by the close... (Nasdaq was the day's big performer despite AAPL weakness)

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As AAPL slid, so FANGs were bid (ahead of NFLX earnings tonight)

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High yield bonds underperformed once again...

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Treasury yields ended the day broadly unchanged with the long-end very modestly bid (30Y -1bps)...

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This left the yield curve modestly flatter on the day once again...

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Treasuries are now the most oversold in 13 months...

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The Dollar Index just refused to hold on to any gains once again today... mounting a brief algo ramp on the Senate vote only to fade back into the red...

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Copper, Crude, and Gold managed gains on the day as silver slipped...

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Cryptos had another ugly day... with Ripple down 20% from Friday's close...

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With Bitcoin below $11k and Ethereum below $1000...

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Finally we note that Jeff Gundlach's favorite 10Y yield indicator is very close to recoupling...

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https://www.zerohedge.com/sites/default/files/inline-images/20180122_EOD10.jpg

Bonus Chart: 2Y Treasuries now yield 27bps more than the S&P 500...the most in 10 years...

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https://www.zerohedge.com/sites/default/files/inline-images/20180122_EOD12.jpg

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