Energy Stocks Soar To Best Week Ever As Vaccine Hope Vanquishes Fear

Energy Stocks Soar To Best Week Ever As Vaccine Hope Vanquishes Fear

Tyler Durden

Fri, 11/13/2020 – 16:01

The week’s big headline remained the positive vaccine news, which sparked all kinds of rotations, sending Small Caps (and value) soaring as Mega-tech (and growth) tumbled…Another late-day buying-panic today…

So, it’s 2009 redux, not 1987?

As BofA noted:

“After 52.5m infections, 591m tests, 37m recoveries, 1.3m deaths and 219 countries and territories across the globe impacted, this week’s coronavirus vaccine news has rightfully propelled financial markets into the stratosphere.”

Probably nothing…

So vaccines are here, Biden will save the world, and stimulus has to come at some point, right?

The machines desperately tried to get the S&P 500 to end the week at a record high close (3580.84)…NOTE – S&P closed unchanged from its open on Monday

This week saw Small Caps surge to their second-best week vs Nasdaq since Trump was elected in 2016…

Source: Bloomberg

Momentum suffered its second worst week in history, crashing over 13%

Source: Bloomberg

Energy stocks soared over 16% higher this week (but notably all on Monday around the vaccine)…

Source: Bloomberg

This was the Energy Sector’s best week ever…

Source: Bloomberg

Airlines had their best week since June…

Source: Bloomberg

And banks had their best week since June…

Source: Bloomberg

FANG Stocks worst week since July…

Source: Bloomberg

The ‘Virus Fear Trade’ plunged to its best level since March…

Source: Bloomberg

VIX crashed this week, back below 24 (from over 40 just 2 weeks ago)…

 

 

Source: Bloomberg

Value surged relative to momentum this week, but bonds decoupled from the regime that has been in place for the last six weeks…

Source: Bloomberg

Treasuries were dumped en masse on the vaccine news and then investors spent the rest of the week buying them back…

Source: Bloomberg

10Y Yields ended back below 90bps and 30Y Yields reversed again at election night spike highs…

Source: Bloomberg

 

 

Source: Bloomberg

The Dollar ended the week higher but traded in a very narrow range after Monday’s kneejerk…

Source: Bloomberg

Cryptos were higher this week…

Source: Bloomberg

Bitcoin traded up to $16,500 this week…

Source: Bloomberg

As one would expect with energy stocks soaring, Oil prices jumped this week (on the Vaccine news) and PMs dipped…

Source: Bloomberg

WTI was weaker today, unable to hold above $41 for the week…

Gold was puked on Monday and spent the rest of the week scrambling back up towards $1900…

Silver jumped today, pushing back up towards $25 after a bloodbath earlier in the week…

 

Finally, as stocks soared, US macro data dumped to its weakest since June (having fallen for 11 of the last 12 weeks)…

Source: Bloomberg

And The Baltic Dry is not exactly encouraging…

Source: Bloomberg

Is that why the “smart” money is leaving?

Source: Bloomberg

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Author: Tyler Durden

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