Retail Rout Dings Dow, Bond Yields Tumble To 2-Week Lows Summing up this morning's impeachment hearings... Big gains for China overnight with hyper-beta ChiNext soaring... Source: Bloomberg European markets rolled over hard today... Source: Bloomberg US Small Caps outperformed on the day, Dow Industrials and Transports lagged (markets ended on the weak side)... Small Caps were driven by a post-EU-Close short-squeeze... Source: Bloomberg The Dow suffered its first drop in 3 days, and closed below 28k, thanks to ugly earnings from Home Depot... Source: Bloomberg Kohls was clubbed like a baby seal... Kohls and Home Depot sent the S&P Retail sector reeling to one-month lows... Source: Bloomberg The odds of a US-China trade deal continue to slide... Source: Bloomberg VVIX , which measures volatility of volatility, reached the highest level versus the VIX since August 2018. Source: Bloomberg Bloomberg notes that that has happened as “demand for VIX options (particularly calls) has picked up,” Credit Suisse Group AG derivatives strategist Mandy Xu wrote in a note Monday. And before we move to bond-land, tech valuations are - as The Fed might say - "elevated"... Source: Bloomberg Treasury yields were all lower on the day led by the long-end... Source: Bloomberg With 10Y closing back below 1.80% for the first time since Nov 4th... Source: Bloomberg As the yield curve flattening is re-accelerating... Source: Bloomberg The Dollar managed gains for the first time in 4 days... Source: Bloomberg Offshore Yuan gives a perfect example of the fading power of trade deal-related headlines as it spiked on a random headline then tumbled back... Source: Bloomberg Cryptos continued to slide today... Source: Bloomberg Bitcoin briefly fell below $8,000 intraday... Source: Bloomberg Oil tumbled most in seven weeks as US-China trade talks stall and PMs gained modestly... Source: Bloomberg WTI finally broke out (down) of its re4cent range... Silver rallied back above $17... And finally, Warren continues to collapse in the odds as Buttigieg surges... Source: Bloomberg Does make u wonder? Source: Bloomberg But it sure isn't fun-durr-mentals keeping this dream alive... Source: Bloomberg Tyler Durden Tue, 11/19/2019 - 16:00 Tags Business Finance