Chinese stocks puked hard overnight as the return from Golden Week was greeted by less-then-wished-for stimulus chatter from China...

Source: Bloomberg

US stocks shrugged off the China chunder as the mega-caps led (with NVDA legging higher on HonHai partnership to fulfill "crazy" demand). Nasdaq was the best performer, followed by the S&P 500. Small Caps were the day's laggard. This was the Nasdaq's best day since the spike on the day after the September FOMC...

The Mag7 basket bounced back from yesterday afternoon's tumble... but it remains rangebound...

Source: Bloomberg

Treasuries were mixed today with the short-end outperforming (2Y -2bps, 30Y +2bps)...

Source: Bloomberg

2Y fell back below 4.00% while 10Y pushed on up to 4.05% - its highest close since July...

Source: Bloomberg

Rate-cut expectations remain notably more hawkish than they have been since the last FOMC meeting...

Source: Bloomberg

The dollar broke out of its post-payrolls tight range today but it was not convincing...

Source: Bloomberg

The blip higher in the dollar managed to spook gold which tanked but found support around $2600...

Source: Bloomberg

Oil also tanked as the lack of MOAR china stimmies took the shine off - thought it seems MidEast chaos doesn't matter anymore. This was WTI's worst day since Nov 2023...

Source: Bloomberg

Bitcoin slipped back to $62,000, erasing yesterday's spike...

Source: Bloomberg

Finally, despite US stocks shrugging off the China chunder today, there are numerous risk catalysts ahead including Thursday's CPI report, Q3 earnings kicking off on Friday (big banks), and of course the election...

Source: Bloomberg

Do vol-sellers really feel lucky?