Crude Carnage Contagion: Biggest Stock Bloodbath In 3 Years, Credit Crashes
by Tyler Durden
ZeroHedge.com
12/12/2014
Quite a week!!
WTI’s 2nd worst week in over 3 years (down 10 of last 11 weeks)
Dow’s worst worst week in 3 years
Financials worst week in 2 months
Materials worst week since Sept 2011
VIX’s Biggest week since Sept 2011
Gold’s best week in 6 months
Silver’s last 2 weeks are best in 6 months
HY Credit’s worst 2 weeks since May 2012
IG Credit’s worst week in 2 months
10Y Yield’s best week since June 2012
US Oil Rig Count worst week in 2 years
The USDollar’s worst week since July 2013
USDJPY’s worst week since June 2013
Portugal Bonds worst week since July 2011
Greek stocks worst week since 1987
Some serious intraday volatility this week as hope kept shining through but in the end, reality won. Despite spiking euphoria among US Consumers, concerns over Greek elections, Japanese elections, the GDP-plunge-driven collapse in oil prices (with neither OPEC nor non-OPEC willing to blink yet on cutting production), and contagion to high-yield finallly caught up with stocks after they blindly followed the mainstream media narrative that low oil prices are unequivocally good for every muppet.
First things first… 2014 so far… “why would you buy a Treasury bond when you can buy stocks with dividends?”
The Rest…HERE
