Daily Disconnect (Or Did Cyprus Matter?)

Tyler Durden's picture


With the 10Y Treasury yield trading with a 1.75% handle - its lowest of the year - it would appear that the fallout from Cyprus (storm-in-a-teacup or not) has had a significant impact on cross-asset class correlations. With safe-haven sectors the only bid holding up a fragile US equity market and EURJPY having been discarded by the algos for any pump-and-dump, it appears stocks are on their own now.


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Thu, 04/04/2013 - 15:37 | 3409453 Martdin
Martdin's picture

This doesn't surprise me the slightest, to be honest.

Thu, 04/04/2013 - 15:39 | 3409464 Super Broccoli
Super Broccoli's picture

surprised ? stop analysing charts you geeks, markets are irationals, everyone is running around with the dick on fire trying to fuck around a little more, no logic either economicaly or politicaly (if the latests ever existed)

Thu, 04/04/2013 - 16:06 | 3409558 TheGermanGuy
TheGermanGuy's picture

Too much time on the hedge, too much disconnect, too mush booze...

Thu, 04/04/2013 - 16:16 | 3409584 FoeHammer
FoeHammer's picture

Or, too little time spent and booze drank...depending on how you look at it.

Thu, 04/04/2013 - 15:37 | 3409457 Doubleguns
Doubleguns's picture

I thought benny had the reigns on this one.

Thu, 04/04/2013 - 15:49 | 3409507 DavidC
DavidC's picture



Thu, 04/04/2013 - 15:52 | 3409514 Rip van Wrinkle
Rip van Wrinkle's picture

He was right first time in this occasion.

Thu, 04/04/2013 - 15:58 | 3409536 flacon
flacon's picture

Just glad he didn't spell it 'Cypress'. 

Thu, 04/04/2013 - 16:22 | 3409622 Doubleguns
Doubleguns's picture

Should have stated Lord Benny. It would have been clearer.  Pun intended.

Thu, 04/04/2013 - 15:39 | 3409461 101 years and c...
101 years and counting's picture

its ALL good.  until its ALL BAD.  stairs up, elevator down.  dont forget jobs tomorrow will be under 150K.  big bro sequester cut tens of thousands of jobs.

Thu, 04/04/2013 - 16:48 | 3409713 disabledvet
disabledvet's picture

Actually that does strike me as bullish not bearish. And no...I'm not disappointed with my Treasury call from a few months back either. Of course it had everything to do with that Cypress thingy. Who knew trees..and other various coniferous plants...could move markets in such a favorable manner...

Thu, 04/04/2013 - 15:40 | 3409463 chdwlch1
chdwlch1's picture

It's almost as if the media blitz about the "great rotation" from bonds to equities was perfectly coordinated with the "great confiscation" of Cyprus' depositors.  What a bunch of dicks...

Thu, 04/04/2013 - 15:45 | 3409486 Yardfarmer
Yardfarmer's picture

after yet another billions dollars naked short broad daylight robbery of your PM investments courtesy of captured US regulators, JPM and bullion bank buddies it appears Au/Ag have bottomed. 

Thu, 04/04/2013 - 16:19 | 3409582 fomcy
fomcy's picture

Well, while Chinese are on vacations until Monday, those sneaky cocks*ckers will probably lunch another attack at around 7:30PM-8PM Today (Globex NY Session) That's what they did yesterday cutting off easy $15/oz in couple of hours while volume is low (hope not). I'll be watching this closely.
Check those 2 last couple of days, you'll see what I mean


Thu, 04/04/2013 - 15:46 | 3409491 Golden_Rule
Golden_Rule's picture

Japan has gotta buy something with their freshly printed money. 

Thu, 04/04/2013 - 15:48 | 3409500 Mototard at Large
Mototard at Large's picture

It looks like we are going to have an all Goldman Sachs MMA cage match between Mark “Brutal Reckoning”Carney and Mairo “Whatever it Takes” Draghi.Learn more about the Bashup in Brussels. http://tinyurl.com/c4dlrdt

Thu, 04/04/2013 - 15:48 | 3409504 SheepDog-One
SheepDog-One's picture

What's to worry about? Little 80% haircut at any second?

Bunch of crybabies. BUY STAWKS!

Thu, 04/04/2013 - 15:53 | 3409505 Petrus Romanus
Petrus Romanus's picture

".... it appears stocks are on their own now."

It appears everyone is on their own now if this short article is accurate.


Thu, 04/04/2013 - 15:58 | 3409539 css1971
css1971's picture

Um, if someone else holds your gold, you don't hold your gold. It's there, not here and it may not even be there.


Reality is such a problem sometimes.

Thu, 04/04/2013 - 15:53 | 3409515 DavidC
DavidC's picture

NFP tomorrow but no POMO, could be an interesting one.


Thu, 04/04/2013 - 16:02 | 3409550 Yen Cross
Yen Cross's picture

     Agreed. ;-)

Thu, 04/04/2013 - 16:20 | 3409618 Yen Cross
Yen Cross's picture

      Thx. EKM.

Thu, 04/04/2013 - 16:05 | 3409551 ekm
ekm's picture

Matters not much.


40% of trading in on dark pools. Primary dealers can sell the same batch of stocks over and over and voer to each other in there.

Thu, 04/04/2013 - 15:59 | 3409546 you enjoy myself
you enjoy myself's picture

so japan has gone to ludicrous speed with their printing, we're to follow (especially since UE likely goes up tomorrow), and gold is down 40 cents?  after getting reamed 2 days in a row?  makes sense.  

Thu, 04/04/2013 - 16:05 | 3409554 The Tao
The Tao's picture

This is like Bizarro World -- up is down, down is up, good is bad.  When it ends, it will not be pretty.

Thu, 04/04/2013 - 16:06 | 3409555 Herman_the_German
Herman_the_German's picture

PPT only has a "BUY" button and unlimited cash - anything else just doesn't matter

Thu, 04/04/2013 - 16:09 | 3409562 mdtrader
mdtrader's picture

It matters only in the sense that capital will leave the Euro zone. Now that confiscation is a possibility all large despositors and corporates will be looking very carefully at their banks and withdrawing from any where they see weakness. Hence, the prospect of further bank failures and problems in the Euro zone are greatly increased.

Thu, 04/04/2013 - 16:09 | 3409569 kushmere
kushmere's picture

It will only be perfectly clear how much Cyprus mattered in the future. For now though, I assure you the tempest is most certainly exploding out of the teapot. The traffic has been absolutely insane on my blog. 9k viewers today.



Thu, 04/04/2013 - 16:08 | 3409570 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Next time you hear "Zero Hedge" as the preface to a question for Mario Draghi, go long a boatload of EUR.

And gee, EURJPY was only up 4% today ... 40x Leverage = 160% ... compound THAT.

Meanwhile in other news, Mr. Corzine says, "Huh?"

Thu, 04/04/2013 - 16:17 | 3409597 Yen Cross
Yen Cross's picture

  gbp/jpy up 4.18%. 634 pips!   http://www.investing.com/currencies/gbp-jpy

Thu, 04/04/2013 - 16:12 | 3409575 Clowns on Acid
Clowns on Acid's picture

After the dismal US employment figs tomorrow, Bernankle will open his komono toward Abe in Japan and say "You say flied lice and I say fluck you !" And then announce a $110B / mth QE.

No one is going to out kamikaze BernankleSan

Thu, 04/04/2013 - 16:14 | 3409583 bnbdnb
bnbdnb's picture

Can we get an SP chart adjusted for dividend payouts?

Thu, 04/04/2013 - 16:33 | 3409668 Abi Normal
Abi Normal's picture

I've been reading ZH for quite some time and this is my first post here!  yay for me...I do appreciate the candor and find the ZH banter to be quite entertaining and insightful for the most part, sans Paul Krudman's idiocy.  

I've been prepping for the worst and hoping for the best for five years now.  I lost my job last February and have been looking ever since (yeah I must be a loser, who knew?).  Due to my age of 50+ years (I do have a BS Info Systems), but alas was in a job that did not require me to update certifications...yeah I should have known better!  Anyway, long and short of it, I am either too old or underqualified to get a job doing the type of thing I was doing, or overqualified to do the clerical/stock boy jobs, and I am grinding closer to oblivion each day. Come july my family will be on the street (homeless) and in a world of hurt and no where to store my preps (and they are considerable)!  I am in a vice, it aint pretty!

What I want to know is when are Americans going to grow a set and get together to go up to DC and demand an end to the Fed and kick the crooked pols out of office???  When do we grow the same set of manhood our Forefathers had???  I shed a tear for America, we have lost our way and now have the 5th column occupying the WH and Congress.  It's a sad day indeed.  Ben is printing US into oblivion and Barack, et al are spending us into bankruptcy and we just sit on our duffs blogging and moaning about the sad state of affairs!  I sure hope we can start to organize and get together to make a change up there in unicorn land...fairy dust my azz!

Thu, 04/04/2013 - 16:55 | 3409723 Melin
Melin's picture

I'm sorry for your situation but I find a large amount of hope...

You and others say, "we just sit on our duffs blogging and moaning about the sad state of affairs!"

I say, your comment alone will be read by more individuals than ever had access to our founding pamphleteers' writings in their day. 

Liberty is gaining, not losing ground.

Thu, 04/04/2013 - 17:03 | 3409792 Abi Normal
Abi Normal's picture

Maybe you are correct and I am in left field, but I do get a sense of things spiraling out of control.  I guess TPTB can do a lot moar monkey works to keep this thing afloat but for how long?  It could be days or years, nobody knows for sure, if they did, they would be a gazillionaire!!!  I hope you are right and LIBERTY is GAINING, but I just don't see it happening right now.  Voting is moot, as corruption is rampant.  One day IMHO it will not be the ballot box that will do our talking, not that I endorse that outcome, but I feel the threat of it will have to be our mantra.  Who in their right minds thinks that DHS buying billions of rounds or JHP and bunches of MRAPS and "personal defense weapons", but are trying to take our "assault rifles". The handwriting is on the wall folks, yet I see nothing on the horizon to cause REAL changes. We are letting TPTB rape and pillage our next generations, and they will be the ones to suffer the most...THAT is a legacy that I for one, do not want to leave them with.

I guess I'd rather die a free man standing, than a slave on my knees, if it comes to all that rot!

Thu, 04/04/2013 - 17:20 | 3409870 Melin
Melin's picture

I didn't mean to suggest you're in left field.  Just that it's not insignificant for you to stand up and speak.

Also, some days I'm more hopeful than others.

Thu, 04/04/2013 - 17:25 | 3409903 Abi Normal
Abi Normal's picture

I appreciate your sentiment, TY!

Fri, 04/05/2013 - 00:46 | 3411143 StychoKiller
StychoKiller's picture

Check out "ZIRP (0%) is Not Stimulus, Rather a Death Knell."

should you ever come back to this comment thread.

Thu, 04/04/2013 - 17:06 | 3409793 Abi Normal
Abi Normal's picture

dang a triple play post, in the park home run!!!

Thu, 04/04/2013 - 17:04 | 3409794 Abi Normal
Abi Normal's picture


Thu, 04/04/2013 - 16:57 | 3409726 Melin
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