Reddit-Rebels Rout Big-Shorts; Bonds, Bitcoin, & Bullion Bid Reddit-Rebels to big shorts today... Or put another way... Source: Bloomberg This was the biggest short-squeeze day since the peak of the chaos with GME in January... Source: Bloomberg And as shorts were squeezed, hedgies unwound some of their favorites for liquidity... Source: Bloomberg AMC was the kingmaker today, up over 100% at numerous times... Which leaves AMC up a stunning 3000% YTD... Source: Bloomberg what a time 2 b alive pic.twitter.com/UxIa5lIv7Q — Liz Franczak (@liz_franczak) https://twitter.com/liz_franczak/status/1400171272382812163?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"); "You're Welcome!!" And while GME managed gains, the AMC surge took it above $30 billion market cap and bigger than GME... Source: Bloomberg GTT also exploded today (up over 50%)... AMC's trading volume today was by far the largest of any in the US - triple TSLA's which was in second place... Source: Bloomberg Oh, and if you cared, the broad indices were up and down like a whore's drawers (Small Caps puked at the cash open and Nasdaq spiked, in a reverse of yesterday's action). A late day panic-bid moved them all barely into the green... VIX had another mini-flash-crash around the pre-open again... Ok, so enough of that malarkey, here's what happened everywhere else in the markets... The dollar pumped and dumped to end unchanged... Source: Bloomberg Bonds were bid... Source: Bloomberg Bitcoin bounced back up to $38K... Source: Bloomberg Ether tagged $2800 intraday... Source: Bloomberg And Bullion buying lifted futures above $1910... Black Gold also extended its gains ahead of tonight's API inventory data, with WTI tagging $69... Finally, the correlation between VIX (fear) and 10Y Treasury yields (no fear) is at its highest since late 1999... Source: Bloomberg And we all know what happened next, stonks were slammed and yields collapsed... Source: Bloomberg Taper tantrum triggered? For now, no one is worried at all as the Put-Call ratio just hit its lowest since 2011... Probably nothing. Tyler Durden Wed, 06/02/2021 - 16:00