Last Thursday we got a 'glimpse’…

Is today another?

No FedSpeak. No Macro. No major geopol issues.

But, stocks suddenly puked…

Led my MAG7 stocks…

Source: Bloomberg

Notably, 0-DTE traders were buying puts aggressively out of the gate…

Source: SpotGamma

As Crypto was slammed…

Source: Bloomberg

Oil prices tumbled…

Source: Bloomberg

All as Treasury yields actually fell…

Source: Bloomberg

… and rate-cut expectations rose…

Source: Bloomberg

Anxiety ahead of tomorrow’s CPI?