Istanbulldozed!



Overheard in Ankara tonight…

Let’s start out with Forex markets, due to the fact that is where by the bloodbathery seriously escalated…

On the day, the Lira was obliterated…

And on the 7 days, alongside with the Lira, Argentina’s Peso, Russian Ruble, the Rand and Genuine all collapsed…

And Rising Market place Fx crashed… (the worst week for EM Forex considering the fact that Sept 2011)

 

The offshore Yuan fell for the 9th week in a row…

But that fall was very little…

The Argentine Peso crashed to a new file lower…

The Turkish Lira went full meltdown to a new history reduced (note the late working day bounce on headlines that some progress had been designed)…

The Ruble plunged to 27 month lows…

And The Rand was routed…

And Brazil’s Real was battered…

Crytpocurrencies have been clubbed like a little one seal…many thanks to a big midweek dump…

Ultimately, with all the destruction, the greenback surged on the week…

 

Testing 2018 highs…

 

Treasury yields plunged on the week as protected haven flows rushed out of EM…

 

10Y Generate tumbled on the 7 days – not enjoyment for these document shorts…

 

The generate curve flattened on the week…

 

The surge in the greenback did almost nothing to assistance commodities (but gold was only fractionally reduced)

 

 

And so eventually we get to shares…

Chinese shares managed good gains on the 7 days…(thanks to a large midweek Nationwide Crew liftathon)

European stocks all tumbled (with UK’s FTSe managing to close the week unch)…Italy was worst…

And in the US, Small Caps and Nasdaq finished the 7 days green, S&P and Dow pink and Trannies unch…

 

5 opening small squeezes in a row aided…

 

VIX surge back again previously mentioned 13 (terrifying…) and back again higher than its 50DMA but vol of vol is outpacing it…

 

FANG Shares managed gains on the week but rolled more than currently…

 

Tesla was creating headlines all over the location…but finished up supplying again all the Saudi/LBO gains and again underneath the criticial $300 Transform level…

 

Bank stocks ended the week purple…

Last but not least we note the correlation between stocks and bonds has tumbled back to its most destructive (normal) considering the fact that Nov 2017…

 





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