S&P 500 Posts 1st 1% Down Day Since Apr 10th as Bonds, Gold Rally

Ending a 66-day streak of consecutive days without a 1% down finish, the S&P500 finally succumbed to statistics as it lost about 1.2% today. Bonds and gold, on the other hand, rallied as the US 10-year treasury yield lost 7bps, the 30-year lost 6bps, and gold gained 1.5%. The VIX gained 35% to finish at 14.88 and lumber appears to have stated another leg down as it lost 2.3% on the day following weak housing related data.