Draghi-geddon Collapses Euro & Crushes Crude; Stocks Soar But Bonds & Bullion Bid

There’s only one clip that seemed to sum up today’s trillion dollar printfest exuberance…

But it wasn’t all shits and giggles… inflationists may have been disappointed by only a 3bps jump in 5Y5Y Fwd Euro inflation expectations, weakness in European sovereigns, a tumble in US Treasury yields, and a plunge in crude oil…

For a few minutes there, everything was not awesome… but stocks staged a late-day panic-buying “everything is awesome” melt-up (on no new catalyst at that point) moving into the green year-to-date to “prove” central planners have it all worked out…

As cash indices gapped open higher, retraced to fill the gap – ripped to the European close – stabilized – then melted upo in the afternoon on the back of JPY weakness

Which lifted stocks into the green year-to-date…Â But The Dow lost Green right at the close

Financials were the day’s big winners in stocks (even though the yield curve flattened even more, and credit markets – which did rally today – remain flashing drastically red). Energy stocks rallied 0.4% even as crude oil crashed 4-5%

USDJPY was fully in charge of stocks… (as JPY and EUR battled for shittiest currency in the world)

EURUSD was baumgartnered… almost 300 pip drop

Which smashed the USD 1.5% higher… its biggest single-day rise in 18 months

To new 11-year highs…

But the USD strength did not affect gold or silver which surged post-ECBQE (as copper and crude were clubbed)… with gold closing above $1300 at 5-month highs