NVDA Fails To Impress, Bitcoin Battered, But Bonds & Black Gold Bid Ahead Of Fed

NVDA showed off a new chip and a robot... BoJ did their hawkish thing (but promised to save the world if things went to shit)... US housing data surprised to the upside... and the screens were green... but it wasn't the love-fest so many hoped as anxiety remains ahead of tomorrow's FOMC meeting...

NVDA ended the day higher barely...

Stocks overall ended higher into tomorrow's FOMC meeting, led by The Dow and Small Caps (and a late-day buying spree made things even shinier for Fed Day)...

Black Gold was the day's big winner again, with WTI surging up near $84, its highest since

Source: Bloomberg

Despite rate-cut expectations falling (hawkishly) further...

Source: Bloomberg

Bonds were bid today ahead of The Fed with the short-end outperforming...

Source: Bloomberg

Bitcoin was clubbed like a baby seal after some shenanigans on the BitMEX overnight, but did find support...

Source: Bloomberg

...which followed the largest net outflow day for BTC ETFs as someone liquidated a boat-load of GBTC...

Source: Bloomberg

The yen weakened notably post-BOJ (USDJPY rallied), roundtripping all of March's gains, and back at its weakest

Source: Bloomberg

Which was mirrored in the Dollar Index, which fully erased the post-payrolls weakness...

Source: Bloomberg

Finally, as the world and his pet rabbit anxiously await the words and dots of the The Fed tomorrow, there is a growing trade in "no cuts at all in 2024" bets...

Source: Bloomberg

How will stocks react to any hint of that?

Source: Bloomberg

Well that would get The Fed into action pretty quick... especially in an election year!