Well that escalated quickly...
While the underlying precious metals were monkey-hammered... erasing all post-Brexit gains
Miners and derivatives were an utter bloodbath...
Bonds took a beating too... (with the curve steepening notably 2Y +2.5bps, 30Y +7bps)...
Germany re-opened and DB was defended for its life from going red...
Even as CDS rose to record highs...
The USD Index soared to 3-month highs... (on Yen and Cable weakness - the latter crashing to new 31 year lows)
Cable crashed...
Catching up to surging Nov rate hike odds...
And PMs were pummeled as crude clung to gains...
Silver has some way to fall yet but gold is getting close to its 200DMA for the first time since Feb 2016...
Pushing Gold/Silver above 71x and Crude/Silver above 2.7x...
Finally... for a change... Stocks!
From the US Open to EU Close, the machines were utterly in charge - with stocks and VIX roller-coaster-ing like crazy...
With Institutional orders dominant as every ramp hit VWAP and was dumped...
All major indices were red on the day despite some ramp efforts in the last hour... stocks tumbled as EU closed
Post-FOMC, Gold is now the biggest loser with bonds, stocks, and EURUSD flat...
Charts: Bloomberg
Bonus Chart: Equity-Bond Correlation remains extremely high...
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