News Stocks Shrug Off World War 3 Risk, But Bonds,...

Stocks Shrug Off World War 3 Risk, But Bonds, Bullion, & Bitcoin Surge To Start The Year

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World War 3 worries? Meh, we’ve got The Fed to handle that shit!!

Weakness in early going in stocks – due to the potential for global war after Soleimani’s killing – were nothing but an opportunity to buy the f**king dip once again today…(as the machines used VWAP as support)…

Stocks Shrug Off World War 3 Risk, But Bonds, Bullion, & Bitcoin Surge To Start The Year

As the market immediately priced in a Fed rate-cut to save the world…

Stocks Shrug Off World War 3 Risk, But Bonds, Bullion, & Bitcoin Surge To Start The Year

Source: Bloomberg

Oil prices spiked but ended only around 3% higher on the day…

Stocks Shrug Off World War 3 Risk, But Bonds, Bullion, & Bitcoin Surge To Start The Year

Of course, defense stocks soared…

Stocks Shrug Off World War 3 Risk, But Bonds, Bullion, & Bitcoin Surge To Start The Year

Source: Bloomberg

But bonds and bullion were bid as safe-havens…

Stocks Shrug Off World War 3 Risk, But Bonds, Bullion, & Bitcoin Surge To Start The Year

On the week, only Nasdaq is notably higher…

Stocks Shrug Off World War 3 Risk, But Bonds, Bullion, & Bitcoin Surge To Start The Year

And since the start of 2020, only Small Caps are red…

Stocks Shrug Off World War 3 Risk, But Bonds, Bullion, & Bitcoin Surge To Start The Year

VIX and stocks remain decoupled…

Stocks Shrug Off World War 3 Risk, But Bonds, Bullion, & Bitcoin Surge To Start The Year

Source: Bloomberg

Credit markets widened notably today, relatively more than equity protection…

Stocks Shrug Off World War 3 Risk, But Bonds, Bullion, & Bitcoin Surge To Start The Year

Source: Bloomberg

Treasury yields collapsed since the start of 2020 with 30Y yields down 13bps…

Stocks Shrug Off World War 3 Risk, But Bonds, Bullion, & Bitcoin Surge To Start The Year

Source: Bloomberg

The 30Y Yield dropped to 4-week lows…

Stocks Shrug Off World War 3 Risk, But Bonds, Bullion, & Bitcoin Surge To Start The Year

Source: Bloomberg

The yield curve flattened dramatically…

Stocks Shrug Off World War 3 Risk, But Bonds, Bullion, & Bitcoin Surge To Start The Year

Source: Bloomberg

The dollar rallied for the second day in a row (despite some volatility today)…

Stocks Shrug Off World War 3 Risk, But Bonds, Bullion, & Bitcoin Surge To Start The Year

Source: Bloomberg

Cryptos were notably bid today following the Soleimani killing…

Stocks Shrug Off World War 3 Risk, But Bonds, Bullion, & Bitcoin Surge To Start The Year

Source: Bloomberg

After another drop below $7k, Bitcoin surged today…

Stocks Shrug Off World War 3 Risk, But Bonds, Bullion, & Bitcoin Surge To Start The Year

Source: Bloomberg

Copper tumbled today as gold and oil rallied…

Stocks Shrug Off World War 3 Risk, But Bonds, Bullion, & Bitcoin Surge To Start The Year

Source: Bloomberg

Gold topped $1550 – back to its highest in 4 months…

Stocks Shrug Off World War 3 Risk, But Bonds, Bullion, & Bitcoin Surge To Start The Year

And as Bloomberg reports, heightened Middle East tensions are boosting bets on further gains for gold as a haven asset. Volatility in call options giving holders the right to buy futures at a pre-set price reached the highest in almost three months against puts, which provide the right to sell the metal.

Stocks Shrug Off World War 3 Risk, But Bonds, Bullion, & Bitcoin Surge To Start The Year

The skew shows that investors are increasingly bullish on bullion, even with prices already near a six-year high in the wake of the U.S. air strike that killed a top Iranian commander.

Source: Bloomberg

Finally, US macro data is negative and disappointing notably (today’s ISM at 10 year lows) with stocks just shy of record highs…

Stocks Shrug Off World War 3 Risk, But Bonds, Bullion, & Bitcoin Surge To Start The Year

Source: Bloomberg

And some remember what happened last time…

Stocks Shrug Off World War 3 Risk, But Bonds, Bullion, & Bitcoin Surge To Start The Year

Source: Bloomberg

 

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