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The Farce Is Complete: Stocks Soar Most In 4 Years As US Job Market Disintegrates

We suspect more than a few traders will need this tonight...

First things first, we have this...

Chinese stocks (trading in US) rose 6.5% today - the biggest day since May 2010:

 

And this  -Today saw an epic squeeze of shorts - "most shorted" surged 5% off the opening lows which is the largest swing we could find on record

 

And finally this: Today was the biggest intraday reversal higher in The Dow since 2011

 

Thanks to this...

spoofer in eMini using a order size of 584

— Eric Scott Hunsader (@nanexllc)

With cash indices all ramped into green for the day:

 

But there was only one thing driving US equities today... USDJPY, which got the momo going:

 

So 120 will be used to launch the 3:30pm ramp

— zerohedge (@zerohedge)

SPX would already be above 2000 if payrolls were negative

— zerohedge (@zerohedge)

And a collapse in VIX finished it off:

 

And US equities (except Small Caps) were ramped all the way into the green for the week, even Trannies

 

But credit was not buying it at the end:

 

Away from the silliness in stocks, everything else was 'silly' too:

Treasuries soared at the payrolls print with yields collapsing and flattening across the curve... before Europe closed and the Treasury selling was unleashed...

 

But remained lower on the week:

 

The USD was crushed lower after payrolls but bid back to the moon alice after Europe closed:

 

Commodities were very mixed on the week but industrials soared later in the day after precious metals exploded on payrolls data:

 

But Silver (up 6%) was the big winner from Payrolls:

 

And here is crude on the week... testing and failing at the week's close...ramping today onthe rig count dcline after tumbling after payrolls

 

The bottom line - The Pure-Play QE Trade is back on... but be careful what you wish for because of reflexivity...

Rate Hike Odds vs. What Determines Rate Hike Odds pic.twitter.com/qjOsJoJMx3

— Not Jim Cramer (@Not_Jim_Cramer)

Charts: Bloomberg