Quite a day and quite a week… and quite an ugly close…

The S&P – closing down 0.5% – had the worst first week of the year since 2009.

Stocks ended the day red (but don't blame the dreadful labor data under the surface because headlines were great – instead blame France!)… with an ugly close

 

Intraday from the Payrolls data…

 

and the week…

 

Homebuilders (thank you Obama) and Healthcare (Biotechs) led the week with Energy and Financials the laggards… (financials worst start to the year since 2009)

 

As financial stocks start to catch down to credit…

 

It appears stocks began to creep back down to reality in bonds… and USDJPY…

 

and crude…

 

Treasury yields tumbled 5-12bps (some notable steepening on the week)… not ethat bonds rallied every day from 8ET

 

The USDollar lost ground today (led by EUR and JPY strength) but closed the week at fresh 9 year highs…

 

Despite USD strength, gold and silver rose on the week, copper small loss and crude another big drop…

 

Commodities post-payrolls

 

Crude is down 14 of the last 15 weeks (and 7 in a row)…

 

Silver and Bonds lead 2015, stocks and oil lag…

 

Charts: Bloomberg

Bonus Chart: Some Y2K Food for Thought…