After all the event risk headlines from Friday sparked significant volume (below the 100DMA), thanks to a Chinese RRR cut, "everything is awesome" again...

All hail the Central Bank Put... but note that stocks just could not break above Friday's cliff...

Cash indices today were led by Trannies - which now love higher oil costs...

And only Trannies are green from Thursday's close...

While US equities loved the RRR cut, Chinese traders (seen here)...

Were less excited...

Additionally, DAX's big drop from Friday was not retraced and the German index is rolling over...

After 4 down days in a row, the USD rallied quite notably today led by EUR weakness and AUD plunge (after surging on RRR Cut) fed by Stevens jawboning about "not being surprised if AUD went lower..."

Treasury yields rose modestly close to close with steepening led by long-end weakness, but late-day strength kept the range small...

Despite the RRR Cut, Copper prices continued to tumble - after an initial spike. Dollar strength weighed on gold and silver...

Crude dropped on Saudi production fundamentals and spiked on idiot-algo-stop-hunts...

Thanks to Chicago Fed's big miss today, US Macro data hits another fresh 6 year low...

Charts: Bloomberg