Tyler Durden's picture

Unidentified Fighter Jets Open Fire On Kramatorsk Airfield, Casualties Reported

Things in east Ukraine have spiraled out of control. Moments ago Itar Tass reported that there has been a shoot out at the separatists-controlled airport in the city of Kramatorsk where according to on the ground witnesses,  four Su-27 fighter jets have allegedly opened fire at the local airfield. It is unclear who the unidentified warplanes belong to although Itar Tass notes that one of the jets was allegedly taken down, so there should be confirmation shortly. Eyewitnesses also add that there are victims and an ambulance has been sent to the scene. Itar-Tass also adds that according to the newspaper "News Kramatorsk" three helicopters were circling over Kramatorsk.



Tyler Durden's picture

And Now Market Tumbles, As News Of Ukraine Deaths Spook Algos

Despite the best efforts of the straight-line panic buying algos on a Tuesday, it seems flashing red headlines of dreadful escalations in Ukraine (more deaths), from Bloomberg:

11 REPORTED DEAD DURING UKRAINIAN OPERATION IN KRAMATORSK: RT
UKRAINE GOVT: RUSSIAN 45TH AIRBORNE IN SLOVYANSK, KRAMATORSK

...and USDJPY tagging 102 again (of course) were enough to spark the manic idiocy of markets from buy-buy-buy to sell-it-all-Mortimer... So much for yesterday's "see it's all good now" ripfest... The Russell 2000 is back at yesterday's lows and NASDAQ is back under 4000.

 



Tyler Durden's picture

Will Terrific Tuesday Hold Once Again?

For the 11th week this year, US stocks are higher on the most fundamentally bullish combination possible in today's markets... a Tuesday open... Absent the exuberance of Turnaround Tuesday (which appears to have been discounted into Manic Monday yesterday afternoon), the S&P would in correction territory (down over 10% in 2014). The question is... will today be any different?



Tyler Durden's picture

Homebuilder Confidence Misses For 4th Month In A Row

NAHB confidence missed expectations once again - the 7th miss in the last 8 months - as the 'hope' priced into this index is eroded and collapses back to the reality of actual sales. The index was up very modestly but all thanks to yet more "hope" as Future (expected) single-family sales expectations rose to 57 (the highest since Jan). The Northeast saw prospective buyer traffic rise while all other regions fell with the West collapsing.



Tyler Durden's picture

Watch As Donetsk Locals Stop A Ukraine Tank

Something tells us this will not get as much footage as the infamous "tank man" stand off on Tiananmen Square.



Tyler Durden's picture

Ukraine Troops, APCs Storm Occupied Slavyansk

As we reported earlier, Ukraine finally unleashed a military action to the "pro-Russian separatists" in "pro-Russian separatist" occupied Slavyansk and other east Ukraine towns. And now, we get to see it in action. From Bloomberg:

  • UKRAINE UNITS STORMING CITY HELD BY PRO-RUSSIAN PROTESTERS: RIA
  • UKRAINIAN TROOPS, APCS ENTER SLOVYANSK, RIA SAYS
  • MILITARY STORM AIRFIELD IN E. UKRAINE, WOUNDED REPORTED: RT
  • UKRAINE GOVT: RUSSIAN 45TH AIRBORNE IN SLOVYANSK, KRAMATORSK

The response by Putin, who has repeatedly warned against precisely this escalation, is now expected momentarily.



Tyler Durden's picture

The S&P 500 Enters "Vertical Straight Line Up" Formation

The comedy from yesterday continues. Sure enough it is market open on a Tuesday (remember - the market never goes down on Tuesday) - the two most bullish catalyst to momentum ignition vacuum tubes. The rest is indescriminate panic buying history.



Tyler Durden's picture

Gold Futures Halted Again On Latest Furious Slamdown

It seems the two words "fiduciary duty" are strangely missing from the dictionary of the new normal's asset management community. This morning, shortly before 8:27am ET, someone decide that it was the perfect time to dump thousands of Gold futures contracts worth over half a billion dollars notional. This smashed Gold futures down over $12 instantaneously, breaking below the 200DMA and triggered the futures exchange to halt trading in the precious metal for 10-seconds. Palladium also got clobbered and was also halted. This is gold's worst since Bernanke 'tapered' in December.



Tyler Durden's picture

GMO Shows Why BTFD In Small Caps Is Dead (In 1 Simple Chart)

The future for US Small Caps is not a bright one, according to GMO. While High Quality US equities are expected to return a meager 2.1% annually over the next 7 years, Small Caps have become so egregiously over-valued that GMO's forward-looking estimate of Small Cap performance is a dismal 4.9% annual loss over the next 7 years (compared with a 6.5% annual return average for broad US equities). It seems the BTFD easy money has been made in this bubble...



Tyler Durden's picture

Copper Joins Precious Metals Rout, Tumbles Below $3.00

The fears over ongoing commodity-financing restrictions and slowing money supply growth are contagiously spilling over into other collateral. Copper prices are in free fall this morning, crashing through critical levels (especially Dennis Gartman's "long punt") and back below the Maginot Line of $3.00. These are near 3-week low levels and the biggest drop since the cash-for-commodity financing deals came under real pressure.



Tyler Durden's picture

March CPI Higher Than Expected, Driven By 16.4% Annual Spike In Utilities, Increase In Shelter Index

Following the hotter than expected PPI data, it was the turn of CPI to come in stronger than consensus had hoped for, and sure enough, moments ago the BLS reported that March consumer inflation printed higher than the expected 0.1%, coming at 0.2% for both headline and the core (excluding food and energy) components, driven mostly higher by a surge in Utility costs which soared by 7.5% M/M, and a whopping 16.4% Y/Y. Curiously, the energy services spike of 2.6% of which utilities is a part, was offset by a drop in energy commodities, mostly fuel oil, whose cost dropped 2.9% in March and by gasoline down 1.7%, and down 4.7% Y/Y.  The BLS also noted the rapid increase in the shelter price index: "Almost two-thirds of this increase was accounted for by the shelter index, which rose 0.3 percent. The indexes for rent and owners’ equivalent rent both rose 0.3 percent, while the index for lodging away from home rose 1.5 percent." Is the housing bubble - both purchase and rent - and which has already burst across much of the nation, finally being noticed by the Fed?



Tyler Durden's picture

Empire Manufacturing Misses By Most In 15 Months, Drops To 2014 Lows

For the 8th month of the last 9, the Empire Manufacturing missed expectations. Tumbling to its lowest since December (despite the apparent let-up in weather freakishness), this is the biggest miss since Jan 2013. The average workweek slowed significantly, but the overall index was modestly saved by a push higher in 'hope' as the six-months-forward index jumped back to Feb highs. Perhaps most concerning, given the supposed pent-up demand that we have been told to expect when the weather picked up, was the tumble in new orders to their lowest since November.



Tyler Durden's picture

Gold Tumbles Most In 4 Months On China Demand Slowdown Fears

Gold prices are down almost 2% this morning (over $25) as last night's slowdown in Chinese money-supply growth and fears that China's insatiable gold demand has become less insatiable send the barbarous relic back towards $1300. Slowing GDP expectations, increasing restrictions on shadow-banking commodity-backed financing, and a need for liquidity are all factors weighing on the precious metal this morning.



Tyler Durden's picture

Ukraine Launches Military Operation Against Separatists, Russian PM Says Country "Anticipating Civil War"

Following last night's protest in front of the Kiev parliament by Maidan faithful and others who had gotten sick and tired by their government doing absolutely nothing to preserve the cohesion of the Ukraine - both west and east - this morning acting president Turchynov, realizing he is between a rock and a hard place and suddenly his position is quite precarious, finally announced that he had issued an order to the country's military to begin operations to retake government buildings seized by pro-Russia separatists in eastern areas.  Oleksandr Turchynov, also the parliament speaker, said the deployment had begun in the Donetsk region, where many of the approximately 10 towns affected by the protests are located.



Tyler Durden's picture

Frontrunning: April 15

  • Ukraine forces move against separatists (FT)
  • China GDP Gauge Seen Showing Deeper Slowdown (BBG)
  • China Is Losing Its Taste for Gold (WSJ)
  • Regulators Weigh Curbs on Trading Fees (WSJ)
  • Obama, Putin Talk as Unrest Roils Eastern Ukraine (WSJ)
  • Japan PM talks with BOJ chief, does not push for easing (Reuters)
  • BRICS countries to set up their own IMF (RBTH)
  • IMF Members Weigh Options to Sidestep U.S. Congress on Overhaul (WSJ)
  • Zebra to Buy Motorola Solutions Unit for $3.45 Billion (BBG)
  • Chinese Thunder God Herb Works as Well as Pain Therapy (BBG)


Do NOT follow this link or you will be banned from the site!