Junk Bonds Dump To 3-Month Lows Amid Longest Curve Flattening Streak In 6 Years

Ignoring the surge in junk bond risk and collapse of the yield curve, stock investors were overheard saying...

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Gold remains the post-Saudi-purge winner...

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Stocks rebounded today. The Dow has now been up 7 days in a row thanks to today's last second ramp...

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But despite small caps bounce, they remain red on the week... as Dow, S&P, and Nasdaq scramble green

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VIX was once again driven back below 10 to ensure a green close for The Dow etc...

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The Media complex was busy today with rumors and headlines surrounding the AT&T, Time-Warner deal and the removal of CNN...

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FANG Futures began trading today and FANG stocks ended lower but dip-buyers were evident...

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Credit Markets continue to collapse... HYG at 3 month lows...

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HYG (the high yield bond ETF) has seen outflows for 8 of the last 10 days)

With stocks and bonds notably divergent...

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Notably the last few days have seen both bonds and stocks bid (just as both were sold in late Oct)

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Treasury yields rose modestly today...

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The Treasury yield curve continues to flatten. 5s30s is now down 10 days in a row - the longest flattening streak since March 2011 and Dec 2005 - if it goes 11 days that will be an all-time record.

And even banks are now starting to pay attention...

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The Dollar Index drifted lower again, hovering at pre-payrolls levels...

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Chaos in crude markets today as the DOE data sparked WTI selling, RBOB buying but then the machines took over and pumped'n'dumped it...

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Gold and Silver managed to hold onto gains after selling off non-stop once Europe closed...

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Finally, Bitcoin saw some crazy moves today after surging on the suspension the SegWit2x hard fork, then collapsing and then jumping back higher again - all on heavy volume...

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