Old news is good news...

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The day started off ugly with a bloodbath in Brazil...

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Today's bounce back in the dollar and stocks was brought to you by a clip from two weeks ago - that was public knowledge - showing Comey admitting under oath that obstructions of his investigations "never happened."

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The Comey Clip bounce however faded into the close...

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Notably, financials are still the laggard over the two days and only Utes are higher...

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Banks pumped at the open, dropped after Europe closed then rallied after comments from Mnuchin on 21st Century Glass-Steagal and not breaking up banks...

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Of course, this is happening as breadth collapses... the last time this happened was in 2015 and led to the crash surrounding the china devaluation.

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Treasury yields bounced higher after overnight buying in bonds leaving yields marginally higher on the day (+1-2bps) apart from the long end (30Y -1bps)...

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30Y closed below 2.90% - below pre-Macron win levels...

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2s30s tumbled to its lowest since Oct 13th, 2016... (despite small bounce on Comey)

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The Dollar Index remains down 1% on the week, though bounced today on the Comey clip (note the flash crash in cable)

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Spot the difference... Stocks or USD/JPY...

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Silver was hit relatively hard today and gold drifted lower as the dollar gained - however, Noble Group liquidation fingerprints were all over Silver...

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WTI and RBOB ended the day higher but had quite a ride after Saudi stockpiles surge sent prices lower below OPEC headlines jawboning bounced them higher...

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