US Stocks Reach Longest Bull Market Ever… Amid Ruble, Real, & Rate-Curve Rout

Longest. Bull. Market. Ever…

The current rally may be longer but it’s not stronger…

Are you not entertained…

Not everyone is celebrating but everyone’s distracted…

 

US Stocks Achieve Longest Bull Market Ever Thanks To Largest Experiment In Central Bank History

Fun-durr-mentals

 

What happens next?

*  *  *

China stocks limped lower overnight…

 

Spanish stocks lead Europe and UK lags…

 

And, of course, US equities were manically bid back up to erase all anxiety over Cohen and Trump… Nasdaq managed to erase all the losses…

 

 

On the day, Trannies were the weakest (as oil surged), The Dow ended lower, Nasdaq and Small Caps were bid but the S&P clung to unchanged…

 

Today’s FOMC Minutes left all markets thoroughly unimpressed…

 

Bonds remain remarkably decoupled from stocks in recent days…

 

Treasury yields dipped on the day (aside from 2Y which was unch) with very little reaction to FOMC Minutes…

 

30Y Yields closed back below the Maginot Line of 3.00% for the first time in a month…

 

The yield curve continues to flatten…

 

Once again FX markets were making headlines.

The dollar dipped to its weakest in 2 weeks…

 

Offshore Yuan weakened today as trade-talks are set to begin…

 

The Mexican Peso rallied on NAFTA headlines…

 

The Real was routed…

 

And Ruble crashed…

 

Cryptocurrencies tumbled this morning, pushing Bitcoin red on the week…

 

Gold was flat, copper and silver lower but crude surged after initially dropping inventory data…

 

WTI is back near 3-week highs…

 

And gold futures are holding above $1200…

 

Finally, amid all the exuberant celebrations of the longest bull market in history, we note that US economic data is the second worst in the world…with only China worse.

Rosie summed things up well…

 

Go to Source
Author: Tyler Durden