This page has been archived and commenting is disabled.
Market Responds To NFP - Great Rotation To Safety
The kneejerk response to this morning's dismal NFP print was significant disappointment. 10Y yields plunged to a 1.68% handle - its lowest in almost 5 months (and largest 3-day drop in yields in 10 months), S&P futures dropped 10 points (and were already weak overnight), Gold spiked, VIX futures popped over 1 vol to 15.3, and the USD weakened notably against the EUR (which broke above 1.30). The spike is being retraced now but very slowly.
and as a reminder of the disconnect...
So the great rotation to safety continues...
Charts: Bloomberg
»
- 8798 reads
- Printer-friendly version
- Send to friend
- advertisements -
A logical reaction, that's just illogical.
Watch gold.
I don't understand why *sometimes* people rush to gold and other times they throw gold under the bus....
People haven't rushed to gold.
It has been repeatedly ground down.
Odd, just checked and all the ounces are still there. Please, ignore paper gold.
The market is very nervous and overbought. The NFP data today does not justify a big reaction.
I just checked my sock drawer....nope....it hasn't been hacked yet.
Goading the Bitcoin cheerleaders? ;-)
They're too busy & tied up trying to log in to the exchange server
You live in fear of someone wanting to hack at your socks? Damn, you've got strange concerns :-P
Aaand...it's still there.
... now that's a 'rounding error', ironically on a downward slope where momentum will meet a wall street head-on!?
abort, abort, abort,...
the 'qe`bilge pump' is dysfunctional captain bur`rr'nak!
we're fuck'd!!!
wow that is starting to simulate what a real market would do very well today
We just saw a flying pig!
@buzzsaw99
Is today the day that the curtain drops on "BernanQE's Greatest Economic Hoax and CNBS Circle Jerk of All-Time?"
Take the Circle Jerk out of CNBS and all that's left is commercials.
Somebody turned on the light switch!
Well, maybe, just maybe, it is our Turn.
I won't be surprised to see DOW finish green today :))
@fomcy
The day is approaching where even the TBTF/PPT won't be able to maintain life support on this coma of a "market."
The only thing that would surprise me at this point is if Katy Perry rode into my room in a velociraptor and started giving me a blowjob. The market, on the other hand, shouldn't surprise anyone that follows it.
Would the raptor still be in the room when this was happening? That would be a little awkward.
Wouldn't surprise me if he stayed in the room at that point. Animals brought back from extinction have all sorts of weird tendencies.
A veritable prophet you are.
Safety, the 30 Years, safe? Ha come the fuck on, wait until the end of this decade.... Treasuries are going to be a blood bath.
TIME TO SHORT TREASURIES AGAIN!
GOOD LUCK WITH YOUR E-TRADE ACCOUNT AGAINST THE BEARDED DOVE AND HIS $85 BN A MONTH HABIT...
85 billion that we know of. TPTB know there is a specific range they need to keep treasuries in to make it "appear" like normal, unmanipulated market trading. The world is quickly become range bound in many ways.
Good luck with that. People shorting Japanese bonds have gotten reamed forty years and counting. Thirty years and counting in the usa.
The term for the next hundred years that every trader needs to be familiar with is "range bound". There is no market, all will be as your local authority describes. That is all, get back to work.
It won't see range bound, it will see roped, hog-tied and sent to slaughter...
Not as long as the Fed and primary dealers can make the bid whatever they want. Until that changes, we remain range-bound and this little club of arrogant fucks will continue to profit by front-running themselves. Full frontal, theft/fraud. Roll the motherfucking guillotines already.
I would not short treasuries yet, just look at Japan. Wait till the 10 is negative interest and they pay us to buy a house. lol
Didn't we do that back in '08 with tax credits?
Buy a set of Whirpool "Green" Appliances and you get a Coupon for a house in Stockton ... downtonw to boot!!!!
Love, Uncle Sam.
LOL..dismal news, silver goes up 0.12, bad or no news Ag goes down...
I'd guess insiders started selling this news around 8am on wednesday. Very very strange to see the /es actually lower at 4am.
Patience, patience. Silver will move.
up, or down?
Either way, if I can get some silver when the price is in the $25 per ounce range, I'm a buyer.
Turndown in defense spending is just starting to hit. Not looking good.
Given the political adjustments we have seen with this number, it makes me wonder if they jacked it down so that Obama can push more spending or repeal of parts of the sequester. It clearly shows that QE has no impact.
yeah, UUP or TLT? not sure what to buy
You know things are f**ked up when the euro and pound both spike over a 100 pips on the NFP#s. Those two 'Heckle & Jeckle' economies are far worse off.
I think the $ might start to strengthen if things really start to deteriorate. People can't run to the yen anymore. I bought some paper silver last night as s/t hedge @ 26.85. Let's see if it does anything.
See, that's how you make gold & silver go up. You fuck over every other safe haven first.
That's quite an achievement by the guys in charge BTW.
+1 on that comment.
Must save the S & P Bernanke says in a Ren the Chihuahua voice. Bonus points if anyone picks up the actual line I am referencing from Ren and Stimpy.
Must save the brain.
You of all people seem somewhat NOT endangered to me ...
Grats on the 3 hours.
Thank you. I've come a long way, reading ZH since the days Marla was still around. And particulary you (among some others) are one of the posters I enjoy very much. So I thought, I'd hang around with the usual supects a bit :)
First off "Phuck You Goverment Traitor." Second...I hope all those shorts on Wall Street who never saw a job they didn't want to eliminate keep covering "all the way to the zero bound." third I still don't see the "raging hard on recession." normally I would put a "yet" here but the amazing move in equities oh these many years does give me pause...
At what point does all this rotating in and out of bonds and stocks make people so dizzy that all they can do is puke on their shoes?
bummer, jamie has to sell more german gold to bring down the gold price. turn on the lights of the passage to the nyfed vault.
Someone already had inside info on this jobs data release, for treasuries had been bid up 24hrs in advance....
say it aint so
o reaaaaallllllyyyyyyyy...
you don't say /sarc
UST safe?!? Only if they can keep the music playing.
2pm ramp will save the market, with total claw-back by monday afternoon.
The fed is just trying to create your reality, It's the same old playbook regarding bonds and safety
here's some JGBs :)
The Fed, in its infinite wisdom, knows that Gun Confiscation, Bank account confiscation, and a bursting credit bubble, combined with relentless counterfeiting of paper currency, will stimulate the economy.
That's why they "make" the big bucks.
Timeline of a con / inside job:
10AM Hongkong futures sell off 2.5% for no reason at all (poultry??)
5PM Germany futures sell off 2% for no reason at all (mini-expiry???)
8:30PM Shit payroll number, futures markets well bid at lower levels
Hmmm
nothing better than coming back from vacation and seeing 10yr yld drop so much )))))). fuck you all the 25 year old portfolio managers who shorted duration on the premise that the recovery is well under way, solid or whatever bullshit story you want to give to investors in your mutual funds. all the bets in your portfolio are one directional- overweight corporate spreads?, underweight Treasury duration? underweight USD vs a basket of currencies? great. in the end, these trades will work out for them because the Fed will make sure of that but it wont be because their published rationale for the portfolio tilts is correct......