10 Year At 2.74%

Tyler Durden's picture

No commentary. The market is now officially disconnected from the economy. Expect a 1%+ close in stocks.



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homersimpson's picture

WTF. Now no commentary needed.

AccreditedEYE's picture

Homer, get a clue. Go ask Grimey for help!

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John McCloy's picture

  I say this QE is priced in. Dollars been clobbered since early July. Give it up Ben the banks are not going to lend. Do you want them to just hand out liars loans again? Isn't that what got us into this predicament.

Citizen of an IKEA World's picture

Look at that chart: it's like a ball rolling off the table.

etrader's picture

julian robertson must be inside out by now.

Gully Foyle's picture

President Camacho: Shit. I know shit's bad right now, with all that starving bullshit, and the dust storms, and we are running out of french fries and burrito coverings. But I got a solution.
South Carolina Representative # 1: That's what you said last time, dipshit!
South Carolina Representative # 2: Yeah, I got a solution, you're a dick! South Carolina, what's up!

Hero Protagonist's picture

Mike Judge is incredibly prescient.

functionform's picture

I guess they're flagging you as junk because they haven't seen the movie?  

Crisismode's picture

It is time for a Jubilee.



DosZap's picture

Been a Hell of a Long time since their was a Jubilee..............

Few here would qualify.

Bill Lumbergh's picture

Looks like "irrational exuberance" in the equity markets right now especially since nothing new was announced of unexpected significance.

firstdivision's picture

I must admit that the equities reacted completely opposite of what I expected. I was telling people yesterday that if the Fed's do nothing then the market would tank since the markets priced in a QE2. The Fed's are just doing QE1.2 and the markets ran with it. I am flabbergasted, or more appropriately, I am Jack's confused expression.

Cognitive Dissonance's picture

I would wait until tomorrow before deciding if the market likes this or not. The day of the Fed decision, meaning what happens after 2:15, is simply the unwinding of initial immediate expectations. After sleeping on it overnight, and after the international markets have a look see, we shall see how the markets digest it's 2:15 meal.

Early bird special anybody? Or maybe ExLax?

Racer's picture

Market? What market?

with Pickpockets Intercepting Market Prices involved?

No thanks, not for me.

FLETCH's picture

one-legged ass kickin' contest

Dr. Copper's picture

Don't bitch about the SPY volume now Tyler...I see buy orders

SheepDog-One's picture

Really? I dont see hardly any. I see a fat finger on the 'ramp on zero volume' button but thats about it. And BTW anyone jumping into stocks on Shalom Bernankes comments has to be an idiot. 

old_turk's picture

Real or Memorex?

Just sayin', crop circles are poppin' up everywhere.

Sudden Debt's picture

Let's all hope so Tyler, let's all hope so.


casey13's picture

Is this the start of the parabolic top in the bond market technicians have been looking for? Once complete the entire move will be done and short treasuries should be a safe bet. The boat is looking a little crowded on the starboard side.

MachoMan's picture

No.  This is a naked man running down the street in broad daylight.  Stop what you are doing and RUN WITH THAT MAN!  Something chasing him (incredibly scary) is quickly approaching.

FoodTiger's picture

Good time to refi?

old_turk's picture

Yeah, unless you are holdin' out fer zero or negative amortization.

hmmm ....

Wait a minute ....

realtick's picture

The idea that stock prices always have a positive correlation with yield is just plain wrong.

In fact it's disinformation.





SheepDog-One's picture

Shhh dont tell the 'bond yield technicians' LMAO

gramps's picture

Wow! Look where that got us.

Pedro's picture

Is it going to be another long artificially inflated run up on the market this fall or are we going down in spite of QE?

old_turk's picture

Down ... but QE is a side show.  There are bigger boogie men out just beyond the tree line.

I suspect we'll be seeing signs of those terrors in September, middle of.

Not that this has run it's course, it hasn't ... lots of more renting of sackcloth and gnashing of teeth to come.

DosZap's picture


You forgot the Ashes...............and the cutting of oneself with broken pottery  chards.

Thunder Dome's picture

When market rolls over it will be fast and ugly.  The kind that after the fact when you look at the chart you say to yourself 'man if I just sold a few days ago.'


Let the culling begin.

kilroy's picture

I think you mean to say "10YR At 2.74%", Tyler, not "10% At 2.74%"...

Midasfinancas's picture

Just short the market. This spike is the end of all this bullshit. What a total JOKE this fucking market from these fucking fed...


This market will be killed today.

SheepDog-One's picture

I agree with your asessment Midas, this market is just plain stupid and anyone left in it who thinks theyve got some direction pegged will surely get crushed, or is just lying as I believe, just go swimming with the Great Whites instead far less dangerous.

qussl3's picture

You'd think that after kicking the dollar to the curb, the AUD would have more of a kick.

Something smells.

Mitchman's picture

Every major currency is down against the dollar right now.

AccreditedEYE's picture

Man, I step away for a few hours and all hell breaks loose! Let's see what magic hour will bring... perhaps a surprise.

jrt's picture

Read Martin Armstrong's papers for a view of what's going on...


carbonmutant's picture

The internals aren't buying this spike...

Bold Eagle's picture

So Liberty 33 will put money in UST. I do not get how it is good news for equities. Anyone?

Mentaliusanything's picture

It just shows that Mr Chairmans tool box holds a child's Toy plastic hammer and a small screwdriver.He has nothing of any substance left without resorting to a temper tantrum in the middle of the Mall.

Your on your owe(n)

docj's picture

Meanwhile, in the Bizzaro World of Federal "finance" the state public employee unions get their bailout today.  $26B.  Chump change, in these days.

Gee, I remember when $26B - even by Government standards - was a lot of cash.  Ah, memories.

So it looks like John Edwards was right, and wrong.  There's actually 3 Americas.  For two of them (The Elites and Public Employees), it's "Let The Good Times Roll".  For the rest (dreaded private sector workers), this isn't a recession, it's a depression.