‘They’ll Never Take Me Alive!’ Stocks Swoon In Final Minutes After Mueller News

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:

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:

SPX

The dollar got hit hard on the news, although it too managed to rebound a bit off the lows:

Dollar

Gold predictably spiked (which is ironic, because you know – Trump and gold):

Gold

The VIX spike tried to mean revert, but couldn’t get all the way back:

VIX

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:

Panel

Meanwhile, across the pond, the FTSE outperformed in Europe, rising as the BoE decision hit while the DAX was the laggard (again):

Europe

The pound plunged after the BoE vote was 6-2 and the growth outlook was slashed. EURGBP now near its highest since 2009:

GBPUSD

GBP1

The trade of the day was GBPCZK as the dovish BoE came at the same time as the Czech central bank hiked:

GBPCZK

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:

WTI

Oh, and you shouldn’t worry about this:

VIXOptions

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