8bp

Stocks Turmoil To End Q2 With Worst Run Since Lehman
By : Zero Hedge Published on : 6/30/2015 8:08:05 PM

Overheard at The PBOC, The SNB, The ECB, and The Fed…

Before we start, it is worth noting that this is the first consecutive quarterly loss for Trannies since Lehman…

S&P 2067.89 was all that mattered today - for the biggest US equity market to avoid its first quarterly loss since Q4 2012… It Failed!!

Q2 ends with crude the big winner, bonds the big loser, and stocks and gold modestly lower…

Q2 saw Dow Transports ugly, Dow Industrials lower, and S&P teetering on the brink. Small Caps managed a small gain as Nasdaq outperformed…

Biotechs (healthcare) dominate Q2 with Financials and Discretionary ekeing out gains. Utes were monkey-hammered and Tech closed lower on the quarter…

Ugly quarter for bonds… (30Y up 57bps in Q2!, 2Y +8bps)

*  *  *

Year-to-Date, the picture does not change too much with bonds the laggard, Crude #winning, Silver flat, gold and stocks down…

And Trannies are a disaster in 2015…

Year-to-Date, 2Y and 5Y yields are still lower but 30Y is up 37bps…

*  *  *

Overnight China hope provided some news chatter into the open…

But Greece dominated…

On the day, stocks went into full schizophrenia mode as the inevitable default and Merkel’s “Nein” was whipsawed by rumors of a last minut deal and of Greeks suspending the referendum…

From pre-Greferendum, US equity indices are all lower still…

With Financials, Materials, and Tech worst…

FX markets remain “well managed” post Greece…

Treasury yields appeared to be pulled and pushed between safety bids and month- and quarter-end positioining… (ECB Sells ‘em, Fed Buys 'em)

Crude rallied as the Iran Deal deadline was delayed (again) but bullion limped lower and Copper slipped…

You can’t keep an over-priced irrationally bid Biotech bubble down… Investors saw bonds rallying and stocks volatility, were stunned by the moves around Greek rumors and decided to pile into the safety of Biotechs…

Chasrts: Bloomberg










Up FVX 1.56 (5-YEAR TREASURY NOTE) CPI Sparks Selling in U.S. Government Bonds, Capping Losing Week

“U.S. Treasury bonds fell Friday … CHANGE YIELD CHANGE ½% 2-year 99 25/32 dn 3/32 0.618% +4.1BP 1% 3-year 100 dn 4/32 0.997% +4.8BP 1 3/8% 5-year 99 3/32 dn 8/32 1.563% +5.3BP 1 ¾% 7-year 98 21/32 dn 9/32 1.957% +4.3BP 2 1/8% 10-year 99 8/32 dn …” said Rosana to Willie on Monday, June 29, 2015.

“My dear Miss Willie,” said Rosana, “have you heard that M1LX went up to 854?”

“1-Month Lows Overall.”

Willie replied that she had not.

“But it did,” said Rosana. “Shanghai plummets again; Japan inflation hits 2-year lows Recall last Friday marked the crescendo of a 13% weekly decline with a 6% slump, and today the index was down as much as 5% in the morning session, falling within 30pts away of a 1-month low below 4,300. Analysts continue to hold active IPO process …”

Willie smiled, but made no answer.

Stocks Turmoil To End Q2 With Worst Run Since Lehman

Overheard at The PBOC, The SNB, The ECB, and The Fed…

Before we start, it is worth noting that this is the first consecutive quarterly loss for Trannies since Lehman…

S&P 2067.89 was all that mattered today - for the biggest US equity market to avoid its first quarterly loss since Q4 2012… It Failed!!

Q2 ends with crude the big winner, bonds the big loser, and stocks and gold modestly lower…

Q2 saw Dow Transports ugly, Dow Industrials lower, and S&P teetering on the brink. Small Caps managed a small gain as Nasdaq outperformed…

Biotechs (healthcare) dominate Q2 with Financials and Discretionary ekeing out gains. Utes were monkey-hammered and Tech closed lower on the quarter…

Ugly quarter for bonds… (30Y up 57bps in Q2!, 2Y +8bps)

*  *  *

Year-to-Date, the picture does not change too much with bonds the laggard, Crude #winning, Silver flat, gold and stocks down…

And Trannies are a disaster in 2015…

Year-to-Date, 2Y and 5Y yields are still lower but 30Y is up 37bps…

*  *  *

Overnight China hope provided some news chatter into the open…

But Greece dominated…

On the day, stocks went into full schizophrenia mode as the inevitable default and Merkel’s “Nein” was whipsawed by rumors of a last minut deal and of Greeks suspending the referendum…

From pre-Greferendum, US equity indices are all lower still…

With Financials, Materials, and Tech worst…

FX markets remain “well managed” post Greece…

Treasury yields appeared to be pulled and pushed between safety bids and month- and quarter-end positioining… (ECB Sells ‘em, Fed Buys 'em)

Crude rallied as the Iran Deal deadline was delayed (again) but bullion limped lower and Copper slipped…

You can’t keep an over-priced irrationally bid Biotech bubble down… Investors saw bonds rallying and stocks volatility, were stunned by the moves around Greek rumors and decided to pile into the safety of Biotechs…

Chasrts: Bloomberg












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Tamekia buys USDRON 4.0477: Euro trades at 4.4630 lei on Tuesday

“The exchange rate of the national leu currency resulting from the quotations announced on Tuesday by the banks authorized by the National Bank of Romania (BNR) to operate on the currency market is as follows: CURRENCY SYMBOL …” said Shandi to Alla on Saturday, June 27, 2015.

“My dear Miss Alla,” said Shandi, “have you heard that TYX went up to 3.14?”

“30-YEAR TREASURY BOND.”

Alla replied that she had not.

“But it did,” said Shandi. “Greek Deal’s Uncertainty Boosts Demand for U.S. Treasury Bonds U.S. Treasury bonds strengthened Wednesday for the first time … year 98 16/32 up 5/32 2.106% -2.7BP 2 1/8% 10-year 97 27/32 up 11/32 2.371% -3.8BP 2 ½% 30-year 97 1/32 up 28/32 3.145% -4.7BP”

Alla, with good-humored countenance, made no answer.

Up NNYL 7499.8457 (WORLD LEADERS) 10 Insane Conspiracy Theories About World Leaders

“Americans get all the conspiracy theory fun. Fine, Obama is a socialist Nazi Kenyan Muslim stoner who’s controlled by aliens. But that doesn’t mean the rest of the world’s leaders don’t have bizarre theories about them as well. Here are 10 examples …” said Lovie to Kit on Friday, June 26, 2015.

“My dear Miss Kit,” said Lovie, “have you heard that TYX went up to 3.14?”

“30-YEAR TREASURY BOND.”

Kit replied that she had not.

“But it did,” said Lovie. “Greek Deal’s Uncertainty Boosts Demand for U.S. Treasury Bonds U.S. Treasury bonds strengthened Wednesday for the first time … year 98 16/32 up 5/32 2.106% -2.7BP 2 1/8% 10-year 97 27/32 up 11/32 2.371% -3.8BP 2 ½% 30-year 97 1/32 up 28/32 3.145% -4.7BP”

Kit, with cold civility, made no answer.