Zero Hedge
April 11, 2014

Equity markets opened down hard, bounced into Europe’s close, and then pushed to new cycle lows into the last hour of the day. The Nasdaq hit 4,000 for the first time in over 2 months and closed at its lowest close in 4 months. Around 3pm we saw the standard ramp attempt but it was weak and faded back towards the lows by the close. EURJPY ran the show this afternoon. This is the Nasdaq’s worst week since June 2012 (with Nasdaq and Russell -3.5% from the FOMC Minutes alone). All major US equity indices closed red for 2014 (first time in over 2 months). Biotechs fell for the 7th week in a row (the longest losing streak since 1998) in a bear-market -21%. Away from the bloodbath in stocks, bond yields tumbled 8-11bps on the week (with the short-end modestly outperforming)… with 30Y yields (3.47%) at their lowest in 10 months. CAD and EUR weakness today supported modest USD buying but USD Index is -1.3% on the week (biggest weekly drop in 9 months). Commodites were flat today (despite a pump-and-dump in copper early and WTI later) with gold ending the week +1% at $1318.

Year-to-Date – not what the status quo was hoping for…
20140411_EOD12_0

The post-FOMC Minutes Fed Dead Cat Bounce has been well and truly crushed…
20140411_EOD10_0

Nasdaq at 4-months lows and below 4000…
20140411_EOD9_0

Year-to-date, all major US equity indices are now underwater…fr the first time since early Feb…
20140411_EOD4_0

Momentum – or high-growth-hype – names have been dumping since Fed’s Tarullo popped the bubble with his “stretched valuations” comments…
20140411_EOD2_0

Read more


NEWSLETTER SIGN UP

Get the latest breaking news & specials from Alex Jones and the Infowars Crew.

Related Articles


Comments