As Equity Window Dressing Ends, Treasury Reality Begins

Tyler Durden's picture

No matter what you were told by the media (or your friendly 'stay fully invested' local wealth-manager), the equity market's exuberant surge of the last few days is evidently one of the clearest month-end window-dressing efforts (to desperately avoid redemptions) that we have seen recently (when put in context of the rest of the world's markets). Who is wrong? Who is right? We suspect we will see the truth (3 F's of US Fiscal Policy) shortly.

 

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realtick's picture

My advice - stick with Helvetica for the charts

LawsofPhysics's picture

"Treasury rally" - Bwahh ha ha ha ha !!!!  Paying Uncle Sam to lose your savings. "winning"

akak's picture

P.T. Barnum was absolutely correct:

"There is a sucker born every minute".

HelluvaEngineer's picture

Queue stupid rumor.

The Axe's picture

The NY Fed has a trading desk......the market may NEVER go down....especially with this kind of volume....

Mr Lennon Hendrix's picture

Credit vs equity is a boring game.  Let's take a look at the dollar's chart to know where the shoes are dropping.

Jack Napier's picture

Don't you mean the gold chart? All the dollar index tells you is whether it's beating the Euro to the bottom or not.

NotApplicable's picture

Light as a feather!

Now, if only Kevin Henry doesn't hyperventilate from all of the blowing...

LawsofPhysics's picture

worst of both worlds.  everything flat, no real returns, and all the paper promises and promissory notes evaporate.

Got physical?  You better, because there is a very real cost for capital creation, despite what the bernank pontificates, even more so when captial and resources are mis-allocated or mal-invested.

Mr Lennon Hendrix's picture

DXY still red.  What a day!

Quinvarius's picture

Since the ten year has a break in the chart, and we are about to print 40B a month and then another 45B, I am going with stocks.  My thesis is bullish.  Kaminsky is still wrong.  And BTW, to the subject of my dislike for Kaminsky, he has been pulling that stunt since at least 2010.  He is full of crap.  Markets move on easy money and easy credit only.  It is the most basic principal out there.

ArkansasAngie's picture

Principal?
There no principal in the market -- debt don't need no principal when it's somebody else's money anyway
And ... there ain't no principles either

youngman's picture

I could see why there might be selling pressure....to take you capital gains now....but why its going up..has me confundlued...or something like that

LongSoupLine's picture

not close enough to Christmas and the other holidays yet.  Bonus pool fuckheads still need a little more.

youngman's picture

One more play is the one time big dividend pre fiscal cliff  buys...but that is 10 stocks right now....more or less

q99x2's picture

Now taking guesses to see who thinks we can cross DOW 13,000 by the close. A mere 13 points and counting.

debtor of last resort's picture

Poor is the new Standard.

fonzannoon's picture

Late day ramp. Here we go again?

Everybodys All American's picture

Bullard is indicating he would see the Fed buying an unsterilized 25 bil a month of treasuries rather than 40 bil a month of sterilized treasuries beginning next month. It will be interesting to see this play out. If only 25 bil a month then will that be seen as Fed tightening? It's a crazy world Bernanke has created when purchasing/monetizing 25 bil a month could be seen as tightening.

Widowmaker's picture

Nothing but the Federal Reserve sucking incorporated dick.

EcoJoker's picture

I have a trader friend who just quit the market this week.  He said if he trades anything over 15 contracts, the machines bend him over and screw him.  Everyone's quitting.   

The.Oracle's picture

Equities are going to eat shit. Everyone thinks that the FED is going to magically buoy all these totally overblown and overpriced technology stocks. Yeah fucking right. They're going to be blown bits, just how all powerful do you guys think the FED really is? 

one_fell_swoop's picture

OVERLAY TWO CHARTS. IMPLY CAUSATION. NEXT POST.