Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Stocks, Bonds, & The Dollar Dumped On Dismal-Data & Trade-Tensions
12-02-2019, 05:33 PM,
#1
Stocks, Bonds, & The Dollar Dumped On Dismal-Data & Trade-Tensions
Stocks, Bonds, & The Dollar Dumped On Dismal-Data & Trade-Tensions

<span property="schema:name" class="field field--name-title field--type-string field--label-hidden">Stocks, Bonds, & The Dollar Dumped On Dismal-Data & Trade-Tensions</span>

<div property="schema:text" class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><p>A <strong>quadruple-whammy of not-awesome trade-related</strong> comments today spoiled the party...</p>

<ul><li>
<p>0602ET *TRUMP TO <strong>RESTORE TARIFF ON STEEL </strong>SHIPPED FROM BRAZIL, ARGENTINA</p>
</li>
<li>
<p>1035ET *TRUMP WILL <strong>INCREASE TARIFFS</strong> IF NO CHINA DEAL, ROSS TELLS FOX</p>
</li>
<li>
<p>1200ET *TRUMP AIDE SAYS <strong>IT'S UP TO CHINA</strong> IF DEAL WILL BE MADE THIS YR</p>
</li>
<li>
<p>1230ET *CHINA TO RELEASE <strong>'UNRELIABLE ENTITY LIST'</strong>: GLOBAL TIMES</p>
</li>
</ul><p>And then <strong>US Macro data poured cold water on China and EU economic hope</strong> as construction spending plunged and manufacturing ISM disappointed significantly.</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/bfmB39C.jpg?itok=9tVCtdcU" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/bfmB39C.jpg?itok=9tVCtdcU"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmB39C.jpg?itok=HGXT6O0h 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmB39C.jpg?itok=HGXT6O0h 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmB39C.jpg?itok=HGXT6O0h 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=HGXT6O0h 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmB39C.jpg?itok=HGXT6O0h 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfmB39C.jpg?itok=9tVCtdcU 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="ea05458e-12e6-4967-a9f8-35f8c9454e85" data-responsive-image-style="inline_images" height="261" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/bfmB39C.jpg" alt="" typeof="foaf:Image" /></picture></a></p>

<p><em>Source: Bloomberg</em></p>

<p>But that 'surprising' surge in a government-provided survey of manufacturers in China was offered up as evidence that (despite US weakness) everything will be ok and the trough is in...</p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/GWHqLJHss9U" width="560"></iframe></p>

<p>Chinese stocks clung to very modest gains overnight (trade headlines hit after the China close)...</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/bfmAE36.jpg?itok=_MSwQKZz" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/bfmAE36.jpg?itok=_MSwQKZz"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmAE36.jpg?itok=lA6DEtYw 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmAE36.jpg?itok=lA6DEtYw 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmAE36.jpg?itok=lA6DEtYw 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=lA6DEtYw 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmAE36.jpg?itok=lA6DEtYw 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfmAE36.jpg?itok=_MSwQKZz 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="8d922ecf-585b-4477-a78d-4cd0dbff712f" data-responsive-image-style="inline_images" height="260" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/bfmAE36.jpg" alt="" typeof="foaf:Image" /></picture></a></p>

<p><em>Source: Bloomberg</em></p>

<p>European stocks were hammered on trade turmoil (despite PMIs beating expectations)...</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/bfmB0C2.jpg?itok=JARwqLjo" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/bfmB0C2.jpg?itok=JARwqLjo"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmB0C2.jpg?itok=KXhmYkmt 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmB0C2.jpg?itok=KXhmYkmt 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmB0C2.jpg?itok=KXhmYkmt 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=KXhmYkmt 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmB0C2.jpg?itok=KXhmYkmt 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfmB0C2.jpg?itok=JARwqLjo 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="505d10a1-006d-4e19-8856-c26da7aa23e9" data-responsive-image-style="inline_images" height="262" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/bfmB0C2.jpg" alt="" typeof="foaf:Image" /></picture></a></p>

<p><em>Source: Bloomberg</em></p>

<p>And European bonds were also down (in price) along with stocks (10Y Bunds +8bps)...</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/bfm7C51.jpg?itok=Qn1l24Ob" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/bfm7C51.jpg?itok=Qn1l24Ob"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm7C51.jpg?itok=BksANVad 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm7C51.jpg?itok=BksANVad 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm7C51.jpg?itok=BksANVad 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=BksANVad 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm7C51.jpg?itok=BksANVad 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfm7C51.jpg?itok=Qn1l24Ob 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="1ab1c0a2-425b-499c-b3ce-1b8bd56cd1c2" data-responsive-image-style="inline_images" height="262" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/bfm7C51.jpg" alt="" typeof="foaf:Image" /></picture></a></p>

<p><em>Source: Bloomberg</em></p>

<p>US equities suffered their biggest daily drop in 6 weeks...</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/2019-12-02_13-00-03.jpg?itok=ET4Mn1Ky" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/2019-12-02_13-00-03.jpg?itok=ET4Mn1Ky"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-12-02_13-00-03.jpg?itok=3bwY6byZ 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-12-02_13-00-03.jpg?itok=3bwY6byZ 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-12-02_13-00-03.jpg?itok=3bwY6byZ 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=3bwY6byZ 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-12-02_13-00-03.jpg?itok=3bwY6byZ 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/2019-12-02_13-00-03.jpg?itok=ET4Mn1Ky 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="011e7a7f-a902-4dc2-a709-beae7b300115" data-responsive-image-style="inline_images" height="266" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/2019-12-02_13-00-03.jpg" alt="" typeof="foaf:Image" /></picture></a></p>

<p>Dow futures were down over 400 points from the overnight highs...</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/2019-12-02_12-55-25.jpg?itok=lxT-duNk" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/2019-12-02_12-55-25.jpg?itok=lxT-duNk"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-12-02_12-55-25.jpg?itok=ZxCoyJME 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-12-02_12-55-25.jpg?itok=ZxCoyJME 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-12-02_12-55-25.jpg?itok=ZxCoyJME 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=ZxCoyJME 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-12-02_12-55-25.jpg?itok=ZxCoyJME 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/2019-12-02_12-55-25.jpg?itok=lxT-duNk 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="94d23a78-1693-480f-bdf6-ec88b14d775d" data-responsive-image-style="inline_images" height="271" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/2019-12-02_12-55-25.jpg" alt="" typeof="foaf:Image" /></picture></a></p>

<p>Momo was dumped at the open but the trend in value/momo reversed around the European close...</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/bfmAF6B.jpg?itok=617VvEf6" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/bfmAF6B.jpg?itok=617VvEf6"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmAF6B.jpg?itok=YyCw1TwG 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmAF6B.jpg?itok=YyCw1TwG 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmAF6B.jpg?itok=YyCw1TwG 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=YyCw1TwG 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmAF6B.jpg?itok=YyCw1TwG 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfmAF6B.jpg?itok=617VvEf6 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="8d029e9c-cb0f-47e5-a416-7eba0946e4fc" data-responsive-image-style="inline_images" height="261" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/bfmAF6B.jpg" alt="" typeof="foaf:Image" /></picture></a></p>

<p><em>Source: Bloomberg</em></p>

<p>VIX spiked above 15 intraday but once again vol-sellers returned after Europe's close...</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/2019-12-02_12-20-37.jpg?itok=oh83Kl7l" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/2019-12-02_12-20-37.jpg?itok=oh83Kl7l"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-12-02_12-20-37.jpg?itok=J-YCqJM_ 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-12-02_12-20-37.jpg?itok=J-YCqJM_ 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-12-02_12-20-37.jpg?itok=J-YCqJM_ 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=J-YCqJM_ 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-12-02_12-20-37.jpg?itok=J-YCqJM_ 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/2019-12-02_12-20-37.jpg?itok=oh83Kl7l 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="38200851-df22-44e9-a6e9-58f6f5de3099" data-responsive-image-style="inline_images" height="284" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/2019-12-02_12-20-37.jpg" alt="" typeof="foaf:Image" /></picture></a></p>

<p><em>Source: Bloomberg</em></p>

<p>Credit was smashed today (after last week's insane surge)...</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/bfm7BAC.jpg?itok=NwsJk_uS" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/bfm7BAC.jpg?itok=NwsJk_uS"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm7BAC.jpg?itok=yegUZIs4 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm7BAC.jpg?itok=yegUZIs4 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm7BAC.jpg?itok=yegUZIs4 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=yegUZIs4 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm7BAC.jpg?itok=yegUZIs4 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfm7BAC.jpg?itok=NwsJk_uS 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="bf6e90cd-ab7a-47f2-9787-984634d5e2d9" data-responsive-image-style="inline_images" height="263" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/bfm7BAC.jpg" alt="" typeof="foaf:Image" /></picture></a></p>

<p><em>Source: Bloomberg</em></p>

<p>Treasury yields surged on the day, led by the long-end (2Y was marginally lower in yield)...</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/bfm9957.jpg?itok=JUO21UIf" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/bfm9957.jpg?itok=JUO21UIf"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9957.jpg?itok=ykaRYHe1 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9957.jpg?itok=ykaRYHe1 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9957.jpg?itok=ykaRYHe1 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=ykaRYHe1 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9957.jpg?itok=ykaRYHe1 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfm9957.jpg?itok=JUO21UIf 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="f95a8f35-b242-47b5-86da-20bbc536300f" data-responsive-image-style="inline_images" height="260" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/bfm9957.jpg" alt="" typeof="foaf:Image" /></picture></a></p>

<p><em>Source: Bloomberg</em></p>

<p>Most notably, the ultra-bond futures collapsed overnight <strong>(hitting a 3-point limit circuit breaker)...</strong></p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/bfmB8EF.jpg?itok=-Xt117ZF" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/bfmB8EF.jpg?itok=-Xt117ZF"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmB8EF.jpg?itok=0nUr4V6t 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmB8EF.jpg?itok=0nUr4V6t 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmB8EF.jpg?itok=0nUr4V6t 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=0nUr4V6t 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmB8EF.jpg?itok=0nUr4V6t 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfmB8EF.jpg?itok=-Xt117ZF 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="c36e1552-49e1-4684-b24e-1c4e9d6f64df" data-responsive-image-style="inline_images" height="262" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/bfmB8EF.jpg" alt="" typeof="foaf:Image" /></picture></a></p>

<p><em>Source: Bloomberg</em></p>

<p>And today saw a major steepening of the yield curve... <em>(the yield curve move has the smell of rate-locks given the underlying macro data, but we will have to wait and see what the calendar looks like - <strong>high-grade dealers expect this week to bring $15b-$20b in supply. This is likely to be December’s busiest week,</strong> with just about $25b for the full-month in store, according to estimates -- that’s $8b more than last year and in line with the $23b that priced in December 2017)</em></p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/bfmB1A9_0.jpg?itok=85lkJ7Sh" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/bfmB1A9_0.jpg?itok=85lkJ7Sh"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmB1A9_0.jpg?itok=iJcOWr7D 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmB1A9_0.jpg?itok=iJcOWr7D 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmB1A9_0.jpg?itok=iJcOWr7D 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=iJcOWr7D 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmB1A9_0.jpg?itok=iJcOWr7D 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfmB1A9_0.jpg?itok=85lkJ7Sh 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="d26211eb-c287-493a-8d42-7ecc126fc530" data-responsive-image-style="inline_images" height="258" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/bfmB1A9_0.jpg" alt="" typeof="foaf:Image" /></picture></a></p>

<p><em>Source: Bloomberg</em></p>

<p>The dollar was dumped today (biggest daily drop in 6 weeks)...</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/bfm6C8E.jpg?itok=axi42n5K" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/bfm6C8E.jpg?itok=axi42n5K"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm6C8E.jpg?itok=pBT3ppK_ 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm6C8E.jpg?itok=pBT3ppK_ 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm6C8E.jpg?itok=pBT3ppK_ 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=pBT3ppK_ 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm6C8E.jpg?itok=pBT3ppK_ 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfm6C8E.jpg?itok=axi42n5K 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="25285471-2314-4e84-b869-51c714f250c6" data-responsive-image-style="inline_images" height="253" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/bfm6C8E.jpg" alt="" typeof="foaf:Image" /></picture></a></p>

<p><em>Source: Bloomberg</em></p>

<p>...breaking down through its 50- and 100-day moving-averages...</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/bfmB241.jpg?itok=XMdW_cua" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/bfmB241.jpg?itok=XMdW_cua"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmB241.jpg?itok=3968YU4s 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmB241.jpg?itok=3968YU4s 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmB241.jpg?itok=3968YU4s 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=3968YU4s 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmB241.jpg?itok=3968YU4s 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfmB241.jpg?itok=XMdW_cua 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="8904e9fc-53e1-49c6-ba4c-4754b6d040f4" data-responsive-image-style="inline_images" height="250" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/bfmB241.jpg" alt="" typeof="foaf:Image" /></picture></a></p>

<p><em>Source: Bloomberg</em></p>

<p>Yuan also lost ground as trade-deal hope faded...</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/bfm4955.jpg?itok=W0NHVCqc" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/bfm4955.jpg?itok=W0NHVCqc"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm4955.jpg?itok=gSVE3hXZ 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm4955.jpg?itok=gSVE3hXZ 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm4955.jpg?itok=gSVE3hXZ 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=gSVE3hXZ 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm4955.jpg?itok=gSVE3hXZ 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfm4955.jpg?itok=W0NHVCqc 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="bb437c9d-33f6-40b7-b134-ede1af24fc9e" data-responsive-image-style="inline_images" height="259" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/bfm4955.jpg" alt="" typeof="foaf:Image" /></picture></a></p>

<p><em>Source: Bloomberg</em></p>

<p>Cryptos extended losses over the weekend and pushed lower still today...</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/bfm1FE0.jpg?itok=o6nZASZ1" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/bfm1FE0.jpg?itok=o6nZASZ1"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm1FE0.jpg?itok=2YRKWiUE 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm1FE0.jpg?itok=2YRKWiUE 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm1FE0.jpg?itok=2YRKWiUE 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=2YRKWiUE 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm1FE0.jpg?itok=2YRKWiUE 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfm1FE0.jpg?itok=o6nZASZ1 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="0400ec5c-4c5e-4fa1-822e-193b192db96a" data-responsive-image-style="inline_images" height="260" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/bfm1FE0.jpg" alt="" typeof="foaf:Image" /></picture></a></p>

<p><em>Source: Bloomberg</em></p>

<p>Bitcoin has been unable to get back above $7400...</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/bfmD3FA_0.jpg?itok=QxyEHZJZ" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/bfmD3FA_0.jpg?itok=QxyEHZJZ"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmD3FA_0.jpg?itok=CrOqhpzv 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmD3FA_0.jpg?itok=CrOqhpzv 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmD3FA_0.jpg?itok=CrOqhpzv 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=CrOqhpzv 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmD3FA_0.jpg?itok=CrOqhpzv 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfmD3FA_0.jpg?itok=QxyEHZJZ 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="8f1903b4-bc59-495c-b973-3855d51b5990" data-responsive-image-style="inline_images" height="261" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/bfmD3FA_0.jpg" alt="" typeof="foaf:Image" /></picture></a></p>

<p><em>Source: Bloomberg</em></p>

<p>Gold, Copper, and Silver ended the day lower (despite a tumbling dollar) but oil popped on Saudi calls for more production cuts/extensions at OPEC (as its Aramco IPO looms)...</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/bfm5BD.jpg?itok=lJz-jOrQ" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/bfm5BD.jpg?itok=lJz-jOrQ"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm5BD.jpg?itok=jpSJKTb8 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm5BD.jpg?itok=jpSJKTb8 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm5BD.jpg?itok=jpSJKTb8 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=jpSJKTb8 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm5BD.jpg?itok=jpSJKTb8 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfm5BD.jpg?itok=lJz-jOrQ 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="6bce8960-b5a1-4069-b5d9-67038d290a33" data-responsive-image-style="inline_images" height="262" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/bfm5BD.jpg" alt="" typeof="foaf:Image" /></picture></a></p>

<p><em>Source: Bloomberg</em></p>

<p>But, with regard to oil, it is still a lot lower than before Friday's plunge...</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/2019-12-02_11-59-22.jpg?itok=zWRygwEb" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/2019-12-02_11-59-22.jpg?itok=zWRygwEb"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-12-02_11-59-22.jpg?itok=_KJELSyH 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-12-02_11-59-22.jpg?itok=_KJELSyH 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-12-02_11-59-22.jpg?itok=_KJELSyH 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=_KJELSyH 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-12-02_11-59-22.jpg?itok=_KJELSyH 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/2019-12-02_11-59-22.jpg?itok=zWRygwEb 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="d3f543a3-e98c-4456-8ee6-fa72599949c6" data-responsive-image-style="inline_images" height="285" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/2019-12-02_11-59-22.jpg" alt="" typeof="foaf:Image" /></picture></a></p>

<p><em><strong>“This whole week is going to be based on OPEC speculations,” </strong></em>said James Williams, president of London, Arkansas-based WTRG Economics.</p>

<p>All the precious metals are green for 2019, but palladium is by far the biggest winner...</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/bfm9637.jpg?itok=ArhEBxPd" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/bfm9637.jpg?itok=ArhEBxPd"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9637.jpg?itok=l5u9oFY- 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9637.jpg?itok=l5u9oFY- 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9637.jpg?itok=l5u9oFY- 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...ok=l5u9oFY- 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9637.jpg?itok=l5u9oFY- 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfm9637.jpg?itok=ArhEBxPd 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="edafbc84-259d-4329-ae55-54bf3971fdc1" data-responsive-image-style="inline_images" height="260" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/bfm9637.jpg" alt="" typeof="foaf:Image" /></picture></a></p>

<p><em>Source: Bloomberg</em></p>

<p>Finally, today was the worst day for a balanced portfolio of stocks and bonds since mid-August...</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/bfm54A7.jpg?itok=p574Ca7T" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/bfm54A7.jpg?itok=p574Ca7T"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm54A7.jpg?itok=SIYzIQdz 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm54A7.jpg?itok=SIYzIQdz 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm54A7.jpg?itok=SIYzIQdz 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=SIYzIQdz 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm54A7.jpg?itok=SIYzIQdz 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfm54A7.jpg?itok=p574Ca7T 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="78212ce5-c9e1-4bad-ab26-7208761fa890" data-responsive-image-style="inline_images" height="261" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/bfm54A7.jpg" alt="" typeof="foaf:Image" /></picture></a></p>

<p><em>Source: Bloomberg</em></p>

<p>Additionally, as Bloomberg's Garfield Reynolds notes, global equities are gliding serenely into the end of 2019, even in the face of a dire economic landscape. To justify an exuberance that looks anything but rational, global activity will need to turn around dramatically.</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/bfm40BD.jpg?itok=p6zvneMN" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/bfm40BD.jpg?itok=p6zvneMN"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm40BD.jpg?itok=h-0is3OS 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm40BD.jpg?itok=h-0is3OS 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm40BD.jpg?itok=h-0is3OS 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=h-0is3OS 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm40BD.jpg?itok=h-0is3OS 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfm40BD.jpg?itok=p6zvneMN 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="1fa01f49-d54e-497e-915d-aa5f254f288f" data-responsive-image-style="inline_images" height="240" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/bfm40BD.jpg" alt="" typeof="foaf:Image" /></picture></a></p>

<p><em>Source: Bloomberg</em></p>

<p><strong>The 2019 FOMO rally’s resilience has taken it far enough in the face of a cloudy forecast. Any declines from here could get very steep indeed.</strong></p>

<p>And then there's this...</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/bfm526_1.jpg?itok=4PkW7i_Y" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/bfm526_1.jpg?itok=4PkW7i_Y"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm526_1.jpg?itok=gYGsFvxK 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm526_1.jpg?itok=gYGsFvxK 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm526_1.jpg?itok=gYGsFvxK 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=gYGsFvxK 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm526_1.jpg?itok=gYGsFvxK 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfm526_1.jpg?itok=4PkW7i_Y 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="8409e775-c61b-48db-acfa-fe4ae9d02513" data-responsive-image-style="inline_images" height="260" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/bfm526_1.jpg" alt="" typeof="foaf:Image" /></picture></a></p>

<p><em>Source: Bloomberg</em></p>

<p>And the US is just as bad (if not worse)...</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/bfm2528_1.jpg?itok=WN_cY965" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/bfm2528_1.jpg?itok=WN_cY965"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm2528_1.jpg?itok=G23YnH9- 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm2528_1.jpg?itok=G23YnH9- 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm2528_1.jpg?itok=G23YnH9- 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...ok=G23YnH9- 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm2528_1.jpg?itok=G23YnH9- 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfm2528_1.jpg?itok=WN_cY965 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="af20f30f-81e1-4f51-ac00-37e31558c094" data-responsive-image-style="inline_images" height="262" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/bfm2528_1.jpg" alt="" typeof="foaf:Image" /></picture></a></p>

<p><em>Source: Bloomberg</em></p>

<p>And this...</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/bfm246F_0.jpg?itok=7Nm091uw" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/bfm246F_0.jpg?itok=7Nm091uw"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm246F_0.jpg?itok=EW4W3PIH 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm246F_0.jpg?itok=EW4W3PIH 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm246F_0.jpg?itok=EW4W3PIH 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=EW4W3PIH 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm246F_0.jpg?itok=EW4W3PIH 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfm246F_0.jpg?itok=7Nm091uw 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="071f31e0-f337-4532-9fd3-05d69d273aad" data-responsive-image-style="inline_images" height="261" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/bfm246F_0.jpg" alt="" typeof="foaf:Image" /></picture></a></p>

<p><em>Source: Bloomberg</em></p>
</div>
<span rel="schema:author" class="field field--name-uid field--type-entity-reference field--label-hidden">
<a href="https://www.zerohedge.com/users/tyler-durden">Tyler Durden</a>
</span>
<span property="schema:dateCreated" content="2019-12-02T21:00:26+00:00" class="field field--name-created field--type-created field--label-hidden">Mon, 12/02/2019 - 16:00</span>

<div class="field field--name-field-tags field--type-entity-reference field--label-above">
<div class="field__label">Tags</div>
<div class="field__items">
<div class="field__item"><a href="https://www.zerohedge.com/terms/business-finance" property="schema:about" hreflang="en">Business Finance</a></div>
</div>
</div><img src="http://feeds.feedburner.com/~r/zerohedge/feed/~4/EXWZxKzq9AM" height="1" width="1" alt=""/>


http://feedproxy.google.com/~r/zerohedge...ppointment
Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)