Bitcoin, Bullion, & Big-Tech Soar As Dollar Drop Resumes

Bitcoin, Bullion, & Big-Tech Soar As Dollar Drop Resumes As the inflation narrative fades amid a now-negative China credit impulse, all of the old favorite trades are back and today was the panic-buying of big-tech reignited once again. Nasdaq roared higher, Small Caps lagged along with the Dow, S&P ended up 1%.. Small Caps are coiling in a tight range between 50- and 100-DMAs... And Nasdaq bounced after closing below its 100DMA, back above its 50DMA... Growth outperformed Value... Source: Bloomberg VIX tumbled back below 19... Another short-squeeze (filled the gap from last Wednesday's tumble) provided some more ammo for the rip today... Source: Bloomberg Cryptos all rallied hard today, surging back into the green after another illiquid bloodbath over the weekend... Source: Bloomberg ...with Bitcoin back above $38,000 after falling beloe $32k over the weekend... Source: Bloomberg Ether outperformed dramatically, ripping back from below $2000 to over $2500... Source: Bloomberg And gold held its gains... As the dollar reversed its gains from late Friday... Source: Bloomberg Bonds were bid today - even as stocks rallied - with the majority of the curve down around 1-1.5bps... Source: Bloomberg 10Y Yields found support at 1.60% again... Source: Bloomberg Real yields dipped, catching (up) gold's lead... Source: Bloomberg Crude oil surged higher today too, with WTI back above $66... Finally, as we detailed earlier, the banks sent another, even louder message to The Fed today with a near-record RRP... Source: Bloomberg The message is simple "f**k off, I'm full!" Tyler Durden Mon, 05/24/2021 - 16:01
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