Dollar Dives Amid Crypto Chaos As Biden Unveils Big-Spending Bill

Read more on this subject: Biden-Harris Deep Fake Administration
News Story Source: https://www.zerohedge.com, by Tyler Durden
The day started off ugly with a big disappointment for GDP growth and ECB's Lagarde failing to jawbone the market down from its more-hawkish positioning on EU rates, but since when has actual fundamental economic data had anything to do with the stonk markets which ripped higher at the cash open. The fact that the Biden stimmy plan was shrinking by the minute also did not seem to worry stocks…

All the majors were higher on the day led by Small Caps outperforming Nasdaq and The Dow lagged (but still ended significantly higher). The buying accelerated in the last few minutes of the day…

Small Caps exploded higher at the cash open (best day since August), retracing much of yesterday's plunge…

Cyclicals outperformed Defensives today (thanks to another buying panic at the open)…

With "Most Shorted" stocks squeezed back into the green for the week after two painful days…

Yields were very mixed on the day with the 2Y and 30Y unch while the belly
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