Stocks end the week on a weaker note roundtripping off premature exuberance into the European close after jobs data that missed expectations (or did they). Of course the kneejerk response took the S&P and Dow to record highs before the weakness set in. Thanks to a late day panic-buying rip though, Nasdaq and Russell 2000 close the week unchanged - no need to call Mr. Bullard. Treasury yields collapsed today, ending the week down around 3-4bps. The USD sold off today to close the week up 0.6% with JPY and AUD the weakest against the greenback on the week. Gold (and silver) rallied to close the week almost unchanged. Interestingly, despite VIX's best efforts (almost breaking under 13), stocks rolled over this afternoon (then ripped). Oil prices pushed modestly higher early on and ended the day around $78.50. The ubiquitous Friday late-day buying panic ripped everything higher - on absolutely no news - "proving" that the jobs data was great (expect, why were safe haven bond and bullion so heavily bid?)

This happened...

On the week Trannies surged and thanks to some late day mania, Nasdaq and Russell managed to creep back into the green

From the Payrolls print...

Treasuries and stocks decoupled into the European close... then stocks caught down...

VIX and Stocks decoupled this afternoon

Treasury yields collapsed today to end the week lower...

The Dollar rallied on the week but ended red today...

Gold and silver soared today. Gold into the green on the week...

Big Reversal in gold

Charts: Bloomberg
Bonus Chart: Abe has a problem...Japanese stocks have given up the JPY track