Banks Bloodbath, Bonds Bid, Dollar Drops & Gold Pops Tyler Durden Wed, 10/14/2020 - 16:00 Mnuchin's "difficult to get a deal done before the election" prompted weakness in stock markets but a glance at Nasdaq and it would seem that as op-ex looms on Friday, the 'gamma-squeezers' have backed off... Source: Bloomberg It's a mad, mad world for sure... While Trannies managed gains today, all the majors ended clustered together in the red, led by Nasdaq and Small Caps (ugly close)... With The Dow and Small Caps back into the red for the week... Banks were battered again... Source: Bloomberg Led by BofA and Wells Fargo... Source: Bloomberg Financials continue to track the Treasury curve... Source: Bloomberg Election uncertainty improved modestly today but remains highly elevated... Source: Bloomberg HY bond spreads reached back to their tightest since COVID... Source: Bloomberg Treasury yields were modestly bid today, led the long-end... Source: Bloomberg With 30Y back at 1.50%... Source: Bloomberg The dollar dumped today (as cable rallied), erasing yesterday's gains... Source: Bloomberg Cryptos were broadly lower today... Source: Bloomberg Gold futures rallied back above $1900... Silver futures bounced higher off $24... And oil gained with WTI back above $41 ahead of tonight's API inventory data... Finally, "do you even lift?" Source: Bloomberg 1000% since the March lows - 'natural' gains!