Well, we got tape bombed in the last hour of trading by WSJ who reports that Special Counsel Robert Mueller has impaneled a grand jury in Washington to investigate Russia’s interference in the 2016 elections.
We’re going to go ahead and assume that’s not what Trump meant when he said this:
- TRUMP SAYS WILL HAVE `VERY BIG ANNOUNCEMENT’ IN W.VA TODAY
Here’s our advice:
Trump should tweet this:
THEY'LL NEVER TAKE ME ALIVE! #MAGA FO' LIFE
— Heisenberg Report (@heisenbergrpt) August 3, 2017
Of course the Dow still managed a record close.
Some folks bought the “Grand Jury dip” in the S&P but a dip it most certainly was nonetheless:
The dollar got hit hard on the news, although it too managed to rebound a bit off the lows:
Gold predictably spiked (which is ironic, because you know – Trump and gold):
The VIX spike tried to mean revert, but couldn’t get all the way back:
Here’s stocks, the Bloomberg dollar index, and 10Y yields all wrapped up into one so you can see the effect of the Mueller tape bomb:
Meanwhile, across the pond, the FTSE outperformed in Europe, rising as the BoE decision hit while the DAX was the laggard (again):
The pound plunged after the BoE vote was 6-2 and the growth outlook was slashed. EURGBP now near its highest since 2009:
The trade of the day was GBPCZK as the dovish BoE came at the same time as the Czech central bank hiked:
Oil slipped because “God is dead.”
“This Andy Hall story sometimes can be just enough to get people to take at least a short-term move in the market,” Phil Flynn, senior market analyst at Price Futures Group, said this afternoon, commenting on the news. “When you don’t have a lot to go on, sometimes a headline like that can be enough to get a few people to cover and get a few computers to light up.”
Whatever. It looks to me like $50 is the problem for WTI not Andy Hall:
Oh, and you shouldn’t worry about this:
Still no crime being investigate yet crimes galore about in DC.