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Five Charts To Start The Day

Submitted by Tyler Durden on 05/15/2013 09:01 -0400

It would appear that the credit markets both anticipated and began to price in what is now the worst recessionary period for the European Union on record a few days ago. However, their exuberant, ever-hungry colleagues over in equity land remain in the bad is good mode and can't get enough of these higher prices. Where ever we look around the developed world, equity prices are lifting as credit deteriorates. The masses ignored these lessons in 2007; are they ignoring it again? Or is this just another short-term divergence? If so, it is bond-buying time... if not, take your equity profits now because these divergences are unsustainable.

European stocks and credit...

US stocks and credit...

Sovereigns ain't buying it?

and protection is bid...

Charts: Bloomberg

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Wed, 05/15/2013 - 09:03 | 3564264 fonzannoon

Yes yes seek safety in Italian and Spanish debt.

Wed, 05/15/2013 - 09:12 | 3564292 Son of Loki

Germany can't stop euro zone from sinking into longest recession (Reuters)

"The misery continues," said Carsten Brzeski, a senior economist at ING in Brussels. "Almost all core countries bar Germany are in recession and so far nothing has helped in stopping this downward spiral.

http://news.yahoo.com/germany-ekes-growth-france-slides-recession-065110...

Wed, 05/15/2013 - 09:29 | 3564346 Xibalba

huff and puff and blow the house down

Wed, 05/15/2013 - 09:54 | 3564428 BeetleBailey

lol fonz....si.....gracie~

Wed, 05/15/2013 - 09:04 | 3564268 BullyBearish

But, But, But...the music is still playing!!!!!!!!

Wed, 05/15/2013 - 09:39 | 3564379 GubbermintWorker

But, But, But, ....fewer and fewer chairs remain.

Wed, 05/15/2013 - 09:06 | 3564274 SheepDog-One

BAWND buyin time! YAY! Where do I get some!

Wed, 05/15/2013 - 09:08 | 3564279 Cognitive Dissonance

Ground control to Major Tom.

<Put your damn helmet on fool.>

Wed, 05/15/2013 - 09:09 | 3564281 Seasmoke

Credit freeze during a steaming hot Summer.

Wed, 05/15/2013 - 09:13 | 3564294 kragsquest

I guess my Euro-peon relatives are waking up to the fact that their "nutty" relative in the US may be right, in typically optimistic fashion the Euros refuse to believe how dire things are....

Wed, 05/15/2013 - 09:13 | 3564295 kragsquest

I guess my Euro-peon relatives are waking up to the fact that their "nutty" relative in the US may be right, in typically optimistic fashion the Euros refuse to believe how dire things are....

Wed, 05/15/2013 - 09:16 | 3564307 orangegeek

It just doesn't matter!!

http://www.youtube.com/watch?v=XM4jJc8w4H0

Wed, 05/15/2013 - 09:27 | 3564338 semperfi

Correct - the only thing that does matter is printing enough "money" to paper over whatever problem arises. And they are. And they will continue to do so. Which means DOW 20000 is coming soon along with S&P 2000.

Wed, 05/15/2013 - 09:34 | 3564364 CVfriendship

http://www.youtube.com/watch?v=ChCckO_F0Ss

I-T-I-T-I-T-I-T-I-T DOESN'T MATTTTTER

Wed, 05/15/2013 - 09:17 | 3564310 q99x2

Central banksters must have read somewhere that the markets predict the economy 6 months in advance. They know how to fix it.

Wed, 05/15/2013 - 09:19 | 3564316 1eyedman

ah yes, this old canard. from back when we got iformation from newspapers, it took a couple days to get to asia, and there were 3 tv stations. more like real time now.

Wed, 05/15/2013 - 09:17 | 3564311 Rainman

Good Gawd ! ....are we ever in the Mother of all Bubbles or what !

Wed, 05/15/2013 - 09:20 | 3564321 1eyedman

its so big we are all on the inside looking out, trying see where the bubble is.

Wed, 05/15/2013 - 09:17 | 3564312 1eyedman

its funny to hear people insist on the imminent rise in interest rates, while claiming stocks are great b/c the fed is involved. which of these does the fed have more control and which would be its primart focus, the other being a nice knock-on effect.

what no one seems to have noticed is that for almost a year now, bonds and stocks have gone up together, which isnt supposed to happen. both will probably decline in absolute terms and bonds hold up better 'relatively' speaking. as some point at stocks go down, treasuriey get bought, less so corps, and not so much hyg.

anyone else think its awfully 'goldilocks' out in the agri-commodity land? highly leveraged farm land, forcasted to produce bumper crops (lower prices, tougher margins)...its already 90+ in OK/KS/MO.

Wed, 05/15/2013 - 09:23 | 3564327 Dr. Engali

Pardon me for posting this again. I believe there is a lot of relevance to this story:

Pentagon removes 17 officers from duty to launch its most powerful nuclear missiles

http://rt.com/usa/air-force-nuclear-missiles-010/

Wed, 05/15/2013 - 09:28 | 3564345 Headbanger

W.O.P.R.

http://www.youtube.com/watch?v=UHBqJj0znYo

Wed, 05/15/2013 - 09:56 | 3564436 GeezerGeek

Not being a mind reader, I have no clue about why you consider this relevant.

Were they purging these officers - reeducating them, it actually seems - because they couldn't be trusted to launch against certain targets? Or were they removed because, as the Lt. Col. quoted said, "he pledged to “crush any rules violators” and said that “we are, in fact, in a crisis right now.” I wonder if sitting in a hole in the ground in Minot for an extended period of time would have contributed to the "rot".

That part about crushing any rules violators sounds like the noise coming out of DC regarding AP wiretaps, IRS violations, etc. There are, in fact, multiple crises in government right now. Whether it be the civilian or military arms of the government, or just like any other organization, the cliche about a fish rotting from the head down applies.

Wed, 05/15/2013 - 09:22 | 3564328 mattdubz86