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Dollar Soars By Most In 43 Months; Stocks, Oil Surge In Week After Worst Payrolls Since 2013

Dismal jobs data - who cares... Worst earnings season in six years - who cares... continued missed expectations in macro data - who cares... GDP expectations at cycle lows - who cares... corporate leverage at record highs - who cares...

 

From Friday's post-payrolls low close... stocks exploded-er... Nasdaq up 3.5%!

 

Of course todasy was all abot AAPL and GE... but look at the v-shaped recovery in stocks after the openiong dump...

 

From Thursday's cash close... Nasdaq is the big winner and Small Caps the small winner...

 

Leaving stocks all in the green for April - even Trannies...

 

But Trannies still down 4% on the year...

 

Treasury yields rose 8-15bps on the week (long-end outperforming in significant bear flattener)...

 

Credit 'disagreed' with stock exuberance today...

 

The US Dollar was up around 3% on the week - its best week Since September 2011...

 

With EUR losing over 3.5% against the dollar on the week...

 

Dollar strength did not weigh directly on commodities (apart from Silver - which was monkey-hammered most in 3 months)

 

The reason, of course, is that the worse the data the better for stocks (moar lower for longer)...

 

However the dollar surge means that conditions everywhere else are also deteriorating... (world 2015 GDP growth expectations are the lowest ever)

 

Charts: Bloomberg