Crypto & Gold Jump As Dollar Dumps, Stocks & Bonds Rise Aside from a disappointing stagflationary miss on ISM Manufacturing (and Buffett and Munger musings on inflation), the big headlines of today are in crypto where altcoins are screaming higher... Last time Altcoin Market Cap turned its old 2014 highs into support... It rallied +27,000% in over a year Altcoin Market Cap has rallied +119% in 70 days since turning its old 2017 highs into support This is just the beginninghttps://twitter.com/hashtag/Crypto?src=hash&ref_src=twsrc%5Etfw!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"); https://twitter.com/hashtag/cryptocurrency?src=hash&ref_src=twsrc%5Etfw!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"); pic.twitter.com/MKkuDjXKoD — Rekt Capital (@rektcapital) https://twitter.com/rektcapital/status/1389176660839190530?ref_src=twsrc%5Etfw!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"); It's really escalating... Ethereum has literally exploded to record-er and record-er highs in the last few days, surpassing $3,000 yesterday for the first time and above $3,300 today... Source: Bloomberg Bitcoin is also on the rise but less so, hovering around $56K... Source: Bloomberg This relative outperformance has sent ETH to its strongest versus BTC since Aug 2018 (the ETH/BTC ratio is at a key historical level here)... Source: Bloomberg And as crypto rallies, the dollar resumes its decline... Source: Bloomberg Which has helped send gold prices back near $1800 as the double-bottom below $1700 seems to have held... Source: Bloomberg And silver surging up to $27.. Source: Bloomberg Small Caps and Big Cap Dow stocks were the day's biggest winners (but well off their highs by the close), S&P managed to hold some gains as Nasdaq lagged notably. The last hour or so saw notable selling pressure... Energy stocks outperformed, Tech and Cons Disc ended red... Source: Bloomberg Interestingly, given the Small Cap gains, "Most Shorted" stocks continued their recent slide Source: Bloomberg Bonds were bid on the day (after some overnight weakness amid May Day holidays)... Source: Bloomberg 10Y Yield dropped back below 1.60%... Source: Bloomberg Real yields pushed down to their lowest (most negative) since February, helping support gold... Source: Bloomberg Commodities continued their charge higher... Source: Bloomberg WTI pushed back above $64... Finally, we're gonna need a bigger global central bank balance sheet... Source: Bloomberg Tyler Durden Mon, 05/03/2021 - 16:01