The "easier for longer" trade was on in force today after every macro data item missed expectations...

...sending the US Macro index to new 6 year lows...

But of course, we couldn't begin today without noting the utter nonsense that happened in US equity "markets" at 1151ET when 'someone' decided it was time to buy in large size at record-breaking highs, lifting the Nasdaq and S&P to record closing highs and beyond...

Which 'demanded' another clip on such a day as this...

By the close, Trannies were the day's big winner until the last few minutes... Dow the relative loser...

But futures show the chaos since yesterday's close as weakness in Asia and Europe sent stocks sprawling but US weakness was just what everyone wanted...

On the week, Trannies continue to lead...

Today was all about the data.. and how crap it was everywhere. That unleashed the "easier for longer" trade as...

Bonds were well bid...even though once again we saw the 8am selling monkey arrive right on cue...

And the Dollar was dumped... back into the red for the week (as Swissy recovered all its losses from yesterday)

Dollar weakness sparked buyiung in commodities with gold, silver, and copper all up on the day...

As crude just exploded for no good reason whatsoever... fully retracing the "Saudis have stopped bombing" plunge

Charts: Bloomberg

Bonus Chart: Time-Warner (which ripped higher on news of the merger in Feb) also ripped higher on the news of the deal breakup - course it did in today's idiot market... but by the close that had ended...