Stocks ended higher but well off the highs as an apparently massive concession from China (shifting its Vision 2025 plan) in the trade war and another win for Trump with huge soybean purchases from China, were hurt by Cohen, and The National Enquirer disclosures. Chinese stocks were unable to hold on to Tuesday's gain overnight and remain in the red on the week... Europe is fixed apparently (conveniently timed ahead of ECB) as Italy folded on its budget battle with Brussels... Which sent Italian yields back below 3.00%... In the US, markets pumped and dumped again, exuberant at China headlines then - having run the high stops from yesterday - tumbling after Trump hush-money headlines hit...Pumps at China Open, EU Open, and US Open, and dump on Trump On the cash side, stocks ended green but it sure didn't feel good... All US Majors closed below their open at the lows... Markets are extremely technical right now... And CTAs remain short - S&P closed above the key 2,666 pivot level... US Markets started strong and accelerated as yet another "massive short squeeze" sparked buying in the megatech stocks to lift all major markets... Banks managed gains on the day (breaking a 5 day losing streak)- but almost gave it all back... Treasury Yields were higher across the complex today, pushing 30Y yields just positive on the week... 10Y Yields are back to the Bush funeral close levels... The Dollar Index slipped lower today, back to pre-payrolls levels... As the Yuan rallied notably... The Mexican Peso rallied up to 20/USD and failed once again... And Cable sold off after the May confidence vote after rallying hard all day... Ugly end to the day in crude (Iran) but silver soared as the dollar faded... WTI slipped back to a $50 handle after inventory data and Iran OPEC chatters spoiled the overnight gains... Silver surged to 6-week highs (outperforming gold)... Silver outperformed Gold - back below the key 85x ratio... Finally, we note that Dec rate-hike odds dropped very marginally today to 72%... And one thing has changed for sure...