A chaotic week in some markets...

But only FX sees through the bulls**t...

It was a week of superlatives...

Trump's best week of the year...

The Dollar Index just completed its best 2-week rally since December...

The Treasury Curve's biggest 2-week-flattening since December...

10... year... flats...

And as the curve collapse, Financials had their best 2-week rally since December...

This week was Apple's worst post-product-launch week in over 7 years and worst week since April 2016 (AAPL closed below its 100DMA for the first time since July)

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Trannies (up 6 in a row) and Small Caps soared this week as Nasdaq ended the week in the red...S&P was panic-bid into the close...

VIX was hammered lower to get the S&P back above 2500...

As it has all week...

Financials were the biggest gainers on the week...

FANG Stocks ended the week unchanged

McCain's "No" sparked some exuberance in Managed Care stocks today...

Notably "Most Shorted" stocks fell for the first week in the last 6...

Treasury yields were up across the curve this week but as the following chart shows, there was a dramatic flattening at the long end...

2Y Yields rose their highest since Oct 2008...

But no matter the collapse of the curve to its flattest since 2007, bank stocks were bid...

Gold and Silver fell for the second week in a row (as the dollar rallied)...Gold closed right at $1300 and Silver at $17 (higher on the day)

Copper fell for the 3rd week in a row - biggest drop since May 2016...

WTI hovered around $50 all week...

oh and Small Caps hit a new record high... because fun-durr-mentals!!!!