It's Going To Be A Long Night (With Updates)

Tyler Durden's picture




 

As liquidity started to come back into FX markets this evening, it is very clear that humans and algos are reacting to every headline, rumor, and bloviation from Europe. In the last two hours, as this chart of EURUSD shows, while the range is small, the reactions are telling. It does appear from the EUR ramps that no-news-is-good-news for now - though evidently, the facts behind that 'no news' paint a different picture. As S&P 500 futures just opened, so EURJPY was ramped 70 pips to hold the only policy tool the Fed has left at unch (for now).

 

EURUSD

 

and the second S&P 500 futures opened (looking like they should gap down 10-15 points based on Treasury futures and FX carry), so 'they' ramp EURJPY 70 pips to save the day...

 

As ES, FX, and Bonds remain divergent... (the chart above is shown in the blue oval below!!)

 

UPDATE: S&P 500 Futures ramped to take out Friday's stops...

 

Charts: Bloomberg

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Your rating: None
 

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Sun, 03/24/2013 - 19:07 | 3369948 Irelevant
Irelevant's picture

Long week td :)

Sun, 03/24/2013 - 19:11 | 3369956 toys for tits
toys for tits's picture

Cyprus president offered to resign while in the EU, IMF meeting, which makes one ask, who's his boss?

 

http://www.guardian.co.uk/business/2013/mar/24/eurozone-crisis-cyprus-ba...

Sun, 03/24/2013 - 19:27 | 3369980 DoChenRollingBearing
DoChenRollingBearing's picture

I'll be up late tonight and up early tomorrow to watch the action!

 

EDIT:

Drudge has lots of headlines about the Middle East now: http://drudgereport.com/

Sun, 03/24/2013 - 19:28 | 3370009 francis_sawyer
francis_sawyer's picture

get a life...

Sun, 03/24/2013 - 19:51 | 3370079 DoChenRollingBearing
DoChenRollingBearing's picture

:)

Sun, 03/24/2013 - 20:17 | 3370235 francis_sawyer
francis_sawyer's picture

@DCRB

~~~

I like you... But 'up all night'..."... C'Mon man!

Sun, 03/24/2013 - 20:40 | 3370325 DoChenRollingBearing
DoChenRollingBearing's picture

Have no fear!  I will be in bed by 2:00 AM or so...

Even my rhetoric can go a little overboard, not enough grease?

Mon, 03/25/2013 - 04:10 | 3371347 Rakshas
Rakshas's picture

GEEZ IF I'M NOT IN BED BY MIDNIGHT I GO HOME..........

Sun, 03/24/2013 - 19:54 | 3370096 cifo
cifo's picture

Haven't we been through the same sh*t last weekend? When TF will this end, if ever?

Sun, 03/24/2013 - 19:30 | 3370016 Going Loco
Going Loco's picture

My thanks to the Durdens for their work this day. Pathetically small donation is coming.

Whatever happened to Marla?

Sun, 03/24/2013 - 19:37 | 3370035 wee-weed up
wee-weed up's picture

What's the latest on the rumor that Assad might be dead?

Sun, 03/24/2013 - 19:44 | 3370052 francis_sawyer
francis_sawyer's picture

Here are the HOTLINKS:

~~~

binladen.com

chavez.com

generalissimofranciscofranco.com

rasputin.com

 

Sun, 03/24/2013 - 19:47 | 3370064 otto skorzeny
otto skorzeny's picture

no bias there.

Sun, 03/24/2013 - 19:50 | 3370077 Max Hunter
Max Hunter's picture

LMAO.. and how convenient, he was killed by imadinnerjacket.. You can't make this shit up.. Ohh wait.. yes you can.. Nevermind

Sun, 03/24/2013 - 20:53 | 3370377 Zwelgje
Zwelgje's picture

Al-Khateeb, leader of FSA resigned. So some serious noise has to be made to push this to the background.

 

Sun, 03/24/2013 - 20:00 | 3370141 Stuck on Zero
Stuck on Zero's picture

Bury your PMs and then sit down and read Charles Dickens to see what life will be like in a few years.

 

Sun, 03/24/2013 - 19:43 | 3370050 Buck Johnson
Buck Johnson's picture

This isn't good, I don't see anything positive coming out of this.

Sun, 03/24/2013 - 19:55 | 3370104 toys for tits
toys for tits's picture

Same link as above.

And a small homemade bomb has gone off at a local Bank of Cyprus branch.

Sun, 03/24/2013 - 19:12 | 3369957 DJ Happy Ending
DJ Happy Ending's picture

I am long Ben Bernanke's big gay bear vibe.

Sun, 03/24/2013 - 19:49 | 3370040 Croesus
Croesus's picture

..

Sun, 03/24/2013 - 19:34 | 3370023 stocktivity
stocktivity's picture

There you go....Here's your deal!  - eurogroup supposed to be starting soon. suggests herman's cut the deal. talk of 40% haircut for bank of cyprus. it has €28bn savings

 

http://www.guardian.co.uk/business/2013/mar/24/eurozone-crisis-cyprus-ba...

11:22 GMT

New highs tomorrow

It's all Bullshit!

Sun, 03/24/2013 - 19:46 | 3370059 Sir Humphrey
Sir Humphrey's picture

Shit just got real as a bomb exploded at a Cyprus bank.......

 

.....Spiderman nowhere to be seen

 

http://www.youtube.com/watch?v=7WvVCqW-nVA

Sun, 03/24/2013 - 21:41 | 3370609 thisandthat
thisandthat's picture

Don't panic - simple cosmetic operation. The front-office image was no longer reflecting the back-office reality, so they just made some readjustments to make it all look a little bit more consistent.

Sun, 03/24/2013 - 19:09 | 3369949 Tom Servo
Tom Servo's picture

Bullish!

 

Sun, 03/24/2013 - 19:16 | 3369969 agent default
agent default's picture

Nah, it's just bullshit.  Like every "market" reaction since 2009.

Sun, 03/24/2013 - 19:29 | 3370015 AllWorkedUp
AllWorkedUp's picture

Yep. A fool's game.

Sun, 03/24/2013 - 19:50 | 3370076 max2205
max2205's picture

Can you say 1600.... This week

Sun, 03/24/2013 - 19:18 | 3369977 peter4805
peter4805's picture

Yup, if Wily Coyote can hover in mid air, there's no reason why the Euro can't do the same.

Sun, 03/24/2013 - 19:09 | 3369950 PersonalRespons...
PersonalResponsibility's picture

Arrows!

Sun, 03/24/2013 - 19:09 | 3369951 ShortTheUS
ShortTheUS's picture

We need a drinking game of sorts for nights like these.

Sun, 03/24/2013 - 19:25 | 3370000 CClarity
CClarity's picture

Drink on "bomb".  We'd all be too drunk too fast on "gold" or "Germany" or "deposits" or "run".

Bomb will get us pleasantly lit.

Sun, 03/24/2013 - 21:06 | 3370433 Van Halen
Van Halen's picture

I find your lack of faith in bombs disturbing.

Sun, 03/24/2013 - 19:46 | 3370060 duo
duo's picture

My brackets are blown, might as well watch the banking system implode.

Go Florida Gulf Coast U! 

Sun, 03/24/2013 - 19:11 | 3369954 Sudden Debt
Sudden Debt's picture

the clown is spewing his weekend alcohol

Sun, 03/24/2013 - 19:11 | 3369955 CheapBastard
CheapBastard's picture

That looks like my EKG when I read the Swimsuit edition of what's that rag called....

Sun, 03/24/2013 - 19:13 | 3369960 Truther
Truther's picture

A great clusterfuck..Am sure. Bring out the lollipops

Sun, 03/24/2013 - 19:13 | 3369961 yrbmegr
yrbmegr's picture

When did the breakup of the Euro Zone become inevitable?

Sun, 03/24/2013 - 19:16 | 3369971 jim249
jim249's picture

From the day it was formed.

Sun, 03/24/2013 - 19:18 | 3369976 yrbmegr
yrbmegr's picture

I thought someone would say that, and it's not entirely untrue.  But I'm wondering what event has really sealed its fate.  You will recall that, initially, the euro appreciated and surpassed parity with the dollar.  Those were the gravy days.  What event really changed that?  Was it the 2008 financial crisis?

Sun, 03/24/2013 - 19:28 | 3369991 Ratscam
Ratscam's picture

Lisbon Treaty turned EU into EUSSR.
That was the big event in 2009 and hardly anyone noticed!
http://www.civitas.org.uk/eufacts/FSTREAT/TR6.htm

Sun, 03/24/2013 - 19:38 | 3370038 yrbmegr
yrbmegr's picture

Interesting.  Makes the various crises in Europe look even more intractable.

Sun, 03/24/2013 - 19:53 | 3370091 NoDebt
NoDebt's picture

Europe is right next to the middle east so "intractable problems" come with the territory.

Sun, 03/24/2013 - 19:25 | 3370002 toys for tits
toys for tits's picture

They succeeded in yoking together an ox and a donkey, which never works as it puts too much strain on the donkey.

Sun, 03/24/2013 - 20:58 | 3370394 WmMcK
WmMcK's picture

Do not plant two kinds of seed in your vineyard.  It defiles the fruit.

It's truly amazing how many lessons we continually need to relearn.

Sun, 03/24/2013 - 19:13 | 3369962 ziggy59
ziggy59's picture

Revealed, the secret plan to airlift stranded Britons from Cyprus: Military to rescue up to 60,000 expats as island faces financial meltdown

http://www.dailymail.co.uk/news/article-2298236/Cyprus-crisis-Military-r...

Sun, 03/24/2013 - 19:34 | 3370027 toys for tits
toys for tits's picture

Thanks for the article post.

Lesley, who runs an animal sanctuary in the mountains above Limassol, is down to her last 64 euros. Before the crisis, many of her 15 dogs and 20 cats were sponsored – 20 euros a month each – and that, supplemented by cleaning work, was her chief source of income.

‘It’s drying up because people haven’t now got the money to sponsor animals. Who can blame them? 

At the moment I’ve got 50 euros in my purse and just 14 in the bank and that, sadly, is it,’ she said.

‘I am worried about feeding the animals. As it is, some of the dogs are, like me, living on pasta.’ 

Whatever the outcome of rescue talks, the crisis has already dealt an irreparable blow to Lesley’s livelihood – and that of many other Britons in Cyprus. Some expressed fears yesterday that they are days away from closing their businesses.

Central planning strikes again. Stupid lying cocksucking fuckfaces Troika.

Sun, 03/24/2013 - 20:59 | 3370397 RockyRacoon
RockyRacoon's picture

Sorry to report that the dogs may soon be dining on Lesley.  Good thing she's not keeping cats.  They don't even have to be hungry.  At least a dog has some self respect.

Sun, 03/24/2013 - 21:08 | 3370443 Van Halen
Van Halen's picture

I think the dogs might soon be dining on Lesley. And the people might soon be dining on the dogs. And then on the bankers.

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