TMTB EOD

QQQs finished up 10bps with squeezy action among unloved/shorted names, a reversal from the last few weeks of action as large cap underperformed. IWM +2.2%, ARKK +2.3%. Still, overall, the action didn’t feel as violent as it started as we saw some more shorted names fade a bit from their highs early in the day. China “only” finished down 2% after being down 4% as rumors swirled of more stock market support. BTC dn another 4% while crude rallied 2.5% on some geo-political developments. Yields were off a few bps.