Nasdaq, Bitcoin Surge To Record Highs As China Saves The World

By Tyler Durden

IP surges (thanks to hurricanes), Congress passes a tax bill that has no hope of passing the senate, but a huge Chinese liquidity injection sends stocks soaring and proves…

Seemingly thanks to a Risk Parity rebound…

And a huge China liquidity injection…

“The increase in cash additions will help soothe market sentiment,” said Qin Han, chief fixed-income analyst at Guotai Junan Securities Co.

And indeed it did: US equity markets soared today… (Small Caps and Trannies best, Dow and S&P lagged but up big)

Which sent Nasdaq back to record highs..

VIX was pushed back under 12 but that is well above the 10 handle when stocks last hit these highs… NOTE the weak close in S&P futs (after running stops)…

Stocks decoupled from bonds…

And Stocks decoupled from FX…

And Stocks even decoupled from VIX…

HYG (High yield bond ETF) also surged most in 8 months… NOTE it filled the last two days gaps lower…

Having ripped off its most oversold since March (note the perfect cymmetry with today’s move.. and what happens next)

Treasury yields were higher on the day… (with a notable selkloff late in the day)

But until the …read more

Source:: ZeroHedge