Post-FOMC: Market Un-Response

Tyler Durden's picture


The reaction to the FOMC statement is extremely significant in its almost entire lack of response.

  • Pre: 10Y 1.94%, ES 1550, Gold $1606, WTI $92.70, EUR 1.2950
  • Post: 10Y 1.935%, ES 1551.5, Gold $1606.5, WTI $92.95, EUR 1.2966

Mortgage spreads widened very modestly; Volume has died; VWAP is your friend; and the Great and Powerful Oz is about to speak. 

The FOMC reaction is the tiny little wiggle at the right hand side of this chart...


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Wed, 03/20/2013 - 14:24 | 3353190 Edward Fiatski
Edward Fiatski's picture

Help us Ben-Kenobi, you're our only hope.

Wed, 03/20/2013 - 14:30 | 3353226 kliguy38
kliguy38's picture

You better believe he is. Without the press and the dollar reserve status this whole house of cards comes down. Pay attention to Europe, they can only keep that pig up so long and they're coming apart at the seams. They're in the process of imploding and wash rinse repeat cycle about to commence......ala 2008.....only bigger this time. gl

Wed, 03/20/2013 - 14:36 | 3353267 Divided States ...
Divided States of America's picture

Aint the fuckin Japanese sleeping right now?

Wed, 03/20/2013 - 14:41 | 3353299 FL_Conservative
FL_Conservative's picture

When do the Cypriots vote again to flush this "finless brown trout"?  I think the ECB will be called on this, as Russia will stand behind Cyprus and allow them to tell the ECB and EU to go fuck themselves.  Ask Iceland how this will work out.

Wed, 03/20/2013 - 14:30 | 3353227 Divided States ...
Divided States of America's picture

The Farce is strong in this one.

Wed, 03/20/2013 - 14:31 | 3353238 Edward Fiatski
Edward Fiatski's picture

Whoah, Bernanke is looking healthy today!

Wed, 03/20/2013 - 15:07 | 3353466 goldfish1
goldfish1's picture

doubled up on the xanax or prozac...

Wed, 03/20/2013 - 15:11 | 3353486 slaughterer
slaughterer's picture

Why are PMs responding so lamely?

Wed, 03/20/2013 - 14:25 | 3353194 fonzannoon
fonzannoon's picture

patience. here comes the rip.

Wed, 03/20/2013 - 14:29 | 3353222 Stoploss
Stoploss's picture

Funny, they must have ZH up on 9 or 10 monitors.


They're trying to front run us.

Wed, 03/20/2013 - 14:31 | 3353240 Divided States ...
Divided States of America's picture

The fuckin Jbag speaks once again....that shiny big bald head is definitely looking for a baseball bat to connect with.

Wed, 03/20/2013 - 14:28 | 3353197 Village Smithy
Village Smithy's picture

"the Great and Powerful Oz is about to speak." You could not put a better name to that arrogant little man.

Wed, 03/20/2013 - 14:31 | 3353234 toys for tits
Wed, 03/20/2013 - 14:26 | 3353201 ghostfaceinvestah
ghostfaceinvestah's picture

here it comes

Wed, 03/20/2013 - 14:28 | 3353202 squid virtuous
squid virtuous's picture

it was a delayed fed-jaculation, almost as dangerous as a premature shalom-gasm

Wed, 03/20/2013 - 14:27 | 3353204 WTF_247
WTF_247's picture

non response down = guarateed up - just rocketed 5pts on ES for the free money.

Wed, 03/20/2013 - 14:27 | 3353206 Cursive
Cursive's picture

No change was priced in.  This market would implode by 20% overnight if BernanQE removed the punchbowl.

Wed, 03/20/2013 - 14:27 | 3353208 ziggy59
ziggy59's picture

The Farce is strong in the Dow

Wed, 03/20/2013 - 14:28 | 3353211 Father Lucifer
Father Lucifer's picture

and there it goes

Wed, 03/20/2013 - 14:28 | 3353216 fonzannoon
fonzannoon's picture

The fed actually released two statements today. They reiterated their statement to the middle class which was "fuck you. die"

They reiterated their statement to the 1% which was "we're rich biatch!!!"

any questions?

Wed, 03/20/2013 - 15:06 | 3353460 goldfish1
goldfish1's picture

No questions.

Wed, 03/20/2013 - 14:28 | 3353217 SIOP
SIOP's picture

that was the biggest un-response I ever saw.

Wed, 03/20/2013 - 14:29 | 3353218 PartysOver
PartysOver's picture

Open Bar, Free Booze, get you some!!!!

Hosted by Mr. Ben Bernake

Wed, 03/20/2013 - 14:34 | 3353249 PUD
PUD's picture


Wed, 03/20/2013 - 14:37 | 3353272 swissaustrian
swissaustrian's picture

Underlying economic conditions don't matter any longer.

Wed, 03/20/2013 - 14:39 | 3353288 squid virtuous
squid virtuous's picture

exactly, the new bell-weathers are now Linked-In, Zynga, and Group-grope...and if they shit the bed we'll find some new ones

Wed, 03/20/2013 - 14:43 | 3353310 Catullus
Catullus's picture

Dude, Largarde is toast too. Two IMF chiefs in a row will resign.

This is like the Insurance Secretary job in Louisiana.

Wed, 03/20/2013 - 15:00 | 3353417 Beam Me Up Scotty
Beam Me Up Scotty's picture

Don't worry about her, I am sure she has a nice golden parachute to sail off into the sunset with.  Just like all of the rest of the fuck ups that are out there screwing up the world.  They make bank no matter what happens.

Wed, 03/20/2013 - 15:27 | 3353573 Downtoolong
Downtoolong's picture

Market Un-Response

No real buyers, no real sellers, and just one algo left which is still trying to figure out how to trade with itself. 

Wed, 03/20/2013 - 15:27 | 3353578 Clint Liquor
Clint Liquor's picture

The markets have become 'comfortly numb'. It makes me nervous.

Wed, 03/20/2013 - 15:43 | 3353650 Billy Shears
Billy Shears's picture

May the farce be with you!

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