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The Crazy Continues: Stocks Up, Breadth Down; Yields Up, Oil Down

Tyler Durden's Photo
by Tyler Durden
Authored...

Tl;dr: A newsy weekend (Brazil, Spain, tanker attacks in MidEast, escalating strikes in Ukraine) was largely ignored by US capital markets which reverted to the 'odd couple' regime of recent days with stocks (higher - EPS hope/oil down) shrugging off yields (higher - ISM growth/inflation). The dollar rallied (the only main asset reflecting EU fiscal stress, adding further to tightening financial conditions) weighing on gold. Bitcoin was very choppy, erasing Friday's loss, then giving half of it back.