Anyone trying to trade today's equity, bond, or crude markets likely feels like this now... An epic day of intraday volatility in almost every asset class (except precious metals) as shitty macro data in the US was trumped by 'hope' that an FT article on a Greece solution would save the world (but is in fact a non-starter). A haircut that "avoids the need for such a term" pic.twitter.com/XVeJRYu2Q9 — zerohedge (@zerohedge) https://twitter.com/zerohedge/status/562350518287466496!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); To translate - this afternoon's manic buying panic was because Greece requests a debt reduction under a more palatable name... Wild swings today... Managed to scramble S&P 500 cash index back above the crucial 100DMA... S&P tops 2,000 and the 100DMA Were stocks trying to catch up to oil's meltup? Bonds were not buying the exuberance at all... Energy stocks led the day... from the NYMEX close yesterday stocks are mostly flat... All thanks to the USDJPY ramp But Energy credit was not falling for it again On the day, Treasury yields ended modestly higher... And thanks to the late-day exuberance, the USDollar rallied back to almost unchanged... thanks to USDJPY's surge and commodities were relatiovely well behaved apart from crude... which was total craziness... Charts: Bloomberg