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).




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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toys for tits's picture

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

DoChenRollingBearing's picture

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



Drudge has lots of headlines about the Middle East now:

francis_sawyer's picture



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

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?

Rakshas's picture


cifo's picture

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

Going Loco's picture

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

Whatever happened to Marla?

wee-weed up's picture

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

francis_sawyer's picture

Here are the HOTLINKS:



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

Zwelgje's picture

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


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.


Buck Johnson's picture

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

toys for tits's picture

Same link as above.

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

DJ Happy Ending's picture

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

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

11:22 GMT

New highs tomorrow

It's all Bullshit!

Sir Humphrey's picture

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


.....Spiderman nowhere to be seen

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.

agent default's picture

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

peter4805's picture

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

ShortTheUS's picture

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

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.

Van Halen's picture

I find your lack of faith in bombs disturbing.

duo's picture

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

Go Florida Gulf Coast U! 

Sudden Debt's picture

the clown is spewing his weekend alcohol

CheapBastard's picture

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

Truther's picture

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

yrbmegr's picture

When did the breakup of the Euro Zone become inevitable?

jim249's picture

From the day it was formed.

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?

Ratscam's picture

Lisbon Treaty turned EU into EUSSR.
That was the big event in 2009 and hardly anyone noticed!

yrbmegr's picture

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

NoDebt's picture

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

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.

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.

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

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.

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.

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.