Despite Bank of Japan and ECB talk, and thanks to a tanking VIX, the new normal of utter tranquility in markets continued...

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Soft Data rolled over again today...

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Draghi didn't sound dovish enough and EUR spiked, sending the dollar dumping (down 8 of the last 10 days) to its lowest level since August 2016...

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The Dollar Index is now unchanged since January 2015.

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But Bund and Treasury yields found what Draghi said to be a little more dovish... 30Y touched 2.80% handle - lowest since June 29th...

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Every effort was made to ensure the Nasdaq completed its 10th day higher in a row (longest streak since Feb 2015), smashing VIX to 9.51... if tomorrow is green, then that will be the longest streak since 2009

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This is easy...

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And Mueller headlines early on gave dip-buyers the perfect opportunity to ignore the shitty data earlier in the day...but major indices generally flatlined all day in a very narrow range, Trannies were worst...S&P and Dow closed red

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Utes outperformed and Financials slumped into the last hour as early gains in energy were erased...

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FANG Stocks ended the day unchanged...

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Chipotle has hammered once again because of rats and norovirus (yeah that's all) - now unchanged since April 2013...

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Treasury yields went nowhere today - ending unch across the board (except 30Y -2bps) after being bid on Mueller's headlines...

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Draghi-driven EUR/USD strength weighed on the Dollar index

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Gold gained on the day with a kneejerk higher after headlines on Mueller's probe of Trump...

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While many seem convinced that this latest rally in WTI means something... it doesn't - more of the same range-bound trading and a reverse today...back below $47 to settle

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And finally, as we noted earlier, the debt ceiling anxiety is starting to get real...

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Traders are already willing to pay more for bills maturing after Oct. 19 to avoid being caught holding securities vulnerable to a technical default -- in line with Congressional Budget Office forecasts that predict the federal government will hit the debt ceiling around early- to mid-October.

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