Here Is Today's 482 Millisecond NFP Leak, The Subsequent Gold Slam And Trading Halts In Treasurys And ES

Tyler Durden's picture

On Monday we brought to you proof of a 15 millisecond frontrunning of the Mfg ISM number by what turned out to be HFT clients of Reuters which admitted subsequently it had "inadvertently" leaked the number to select clients. However, that was child's play compared to the absolute market farce that happened today which we can visualize courtesy of Nanex, and which impacted gold, ES, and Treasury Futures altogether.

In sequential order: 62 milliseconds before the NFP number a massive dump of gold took place in what can merely be described as yet another of the infamous gold take downs we know so well which however take place just around the time of the London fixing. That it happened right before the NFP number is either an indication of an early NFP data leak reaching "some" HFT traders, or merely an attempt to set the "mood" for further selling by someone who decided that the NFP print would be negative for gold no matter what it was...

August 2013 Gold Futures trades and quote spread.


However, manipulated gold markets are nothing new, and frankly we would have been surprised if they did not happen.

What was more amusing was the action after the NFP release in both the eMini and the T-Bond futures, all of which had to be halted for a whopping 5 seconds until the algos, selling everything at first, got the memo out that good news today was in fact good news, and promptly ramped risk to the moon. Either that, or someone called in a code Red, made it so all selling was literally prohibited, and with the only path of no resistance up, resulted in today's epic melt up on what was initially a very bearish kneejerk response to the NFP print.

First: September 2013 T-Bond Futures trades and quote spread. The deluge of selling hits 482 milliseconds before the NFP release, leading to a 5 second circuit breaker and halting the OTR future contract of the world's largest bond market. Abe would be proud.


Meanwhile in equities, all liquidity disappeared. All of it.


June 2013 ES Futures (eMini) trades and quote spread: the first appearance of the trading halt:


Zoomed in: no trades.


But despite the trading circuit breaker, quotes flooded the system in the 5 second period in which trading was halted:


And zoomed in some more: trades, or lack thereof:


And quotes.

* * *

Thank you Central Planners: not even in 1955 Stalingrad did they manage to break the capital markets (assuming they ever had one) as effectively as you have done.

And now, we look forward to Sunday night in Japan, where we anticipate at least 1-2 bond trading halts on what is sure to be an upside explosion in the Nikkei225, if only until the selloff resumes once again as central banks are increasingly more and more cornered with a dilemma of either breaking the bond market, or stocks.

Finally, if this millisecond response is a glimpse of what happens when not even all the central banks (because now it is a coordinated effort) can hold the market together, then we wish all the best to those who will "sell ahead" of everyone else when the time to sell comes.

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ShortTheUS's picture

I never understood the reason for giving the financial press these numbers ahead of time. Do it old-school and have someone at DOL read it at 8:30. Some nations still do it this way.

nope-1004's picture

Computer rigged casino.  No market.  Just a FED controlled game.


NotApplicable's picture

Multi-jurisdictional investigation of Nanex for terrorist activities in 3... 2... 1...

Say What Again's picture

Does PRISM watch the consolidated tape?

Never mind....

knukles's picture

Another every once in a while insight. 
Several times a day I get away from it all by taking my dogs for a walk.  The modest exercise, fresh air (I live in a small community, fresh air, sunshine, wonderful CA weather) and time of reflection seem quite beneficial.  And of course, several times I've had deep thoughts regarding the invest-o-sphere.  And as I was cleaning up seem puppy doo with on of those little individual sized puppy pooh baggies I had some insights with regard to Goldman Sachs. the disappearing middle class, human character, ethics and moral behavior.
It has been said that many of the top investment and commercial bankers of the world love to stand on their balconies tossing off red hot pennies to the small, in-firmed, dirty, disease ridden, undernourished, impoverished and uneducated pauper offspring of the newly dis-enriched middle class.   
Evidently, they think that their heuristic, altruistic charitable efforts are enhanced when the children must receive second or third degree burns upon their hands while scrumming for the measly tokens.  And not only is it a source of healthy family entertainment, but it also is an example of God's work being done for as the old saying goes, "Give a man a handout and he'll bug your ass again in the morning, but make him grovel like a worm and his self esteem will be so greatly challenged  he'll want to work for you." 
Or something like that.
So I took that moment of clarity just a bit further and figured that what  would be better during cold, damp, depressing environments, that the kiddies would probably appreciate, deeply appreciate, picking up Fido's freshly laid loaves with those thin plastic bags as they're warm and for a kid without gloves, it is truly acting as your brother's keeper and a finder of lost children.  Doing something Wondrous for Humanity.

God is great.

BigJim's picture

 if only until the selloff resumes once again as central banks are increasingly more and more cornered with a dilemma of either breaking the bond market, or stocks.

Can someone explain to me why our overlords can't just buy both bonds and stawks with QE through the primary dealers, until they own everything? 

flacon's picture

Can someone explain to me how these data number are "released"? Is it some pompous intellectual up on stage reading from a piece of paper? Is it a datafeed from the Eccles building? How exactly does it work. 



Lore's picture

Knukles: Your walks aren't helping.

eclectic syncretist's picture

It's an insider's game.  Companies and institutions putting peoples supposedly "retirement" accounts into the hands of this rapid bunch of dogs on Wall Street will get what they deserve........beaten down!    And the Fed and Government say they support the economy when what they actually support is it's destruction!  Fools, cowards, and criminals, still avoiding justice.

Jack Napier's picture

I guess you've got to break a market before you can (re)make it.

greensnacks's picture

All this talk about 'leaking' is nothing more then time synchronization on the someone's poorly configured servers and not necessarily some elaborate conspiracy. I guess by understanding how computers keep track of times makes me far less suspicious than others. Maybe this will be helpful:

With that said, the fix is easy ... don't release key economic data while the markets are trading or apply the circuit breakers for 1 minute prior and after these types of data points are being released.

Beam Me Up Scotty's picture

Or its not.  What better way to front run everyone else, if you can get the data a few milliseconds before everyone else.  Might as well give it to them an hour before, or a day before.  Combine that with massive amounts of money, and you not only front run the markets, you OWN the markets.

SamAdams's picture

Research the largest "services company" in the world to better understand how things can be coordinated within milliseconds.  SERCO...

Mitzibitzi's picture


I know a guy that works for them, admittedly in a fairly well-paid upper-middle management role. What he says about that bunch of cunts turns the air blue. They even made him take two days off, without pay, when he had to go into hospital to have a small blood clot in his knee removed, because he'd already used all his leave entitlement for the year.

"It's not the policy of this company to grant compassionate leave with pay, except in cases of extreme urgency", was roughly the line he got from senior management. Like a blood clot that can migrate any time to somewhere more vital than your knee and fucking kill you isn't 'urgent'!

Kirk2NCC1701's picture

@ Precious:  "You didn't dump that".

Soon TPTB will be able to say that, having manipulated Space-Time itself.  "Trekkie Sci-Fi!" you say?  Think again, sheep.  Temporal Cloak erases data from history:

   ---> "I never said that.  Prove it!"  - famous public figure

And Scotty, how's that transporter coming along?  How long before I can beam up?

Kirk out.

TheEdelman's picture

This shall be known as "Knuks dog shit Goldman epiphany" (circa 2013)

"remember kid, KDSGE is the reason your hands are not frost bitten.  your parents dont love you.  Goldman, however, does.  now lick these boots clean."

fiftybagger's picture

Rest assured, the people you speak of will be dealt with, and dealt with severely.


9 Hast thou an arm like God? or canst thou thunder with a voice like him?

10 Deck thyself now with majesty and excellency; and array thyself with glory and beauty.

11 Cast abroad the rage of thy wrath: and behold every one that is proud, and abase him.

12 Look on every one that is proud, and bring him low; and tread down the wicked in their place.

13 Hide them in the dust together; and bind their faces in secret.

14 Then will I also confess unto thee that thine own right hand can save thee.


Job 40
King James Bible

14 And I looked, and behold a white cloud, and upon the cloud one sat like unto the Son of man, having on his head a golden crown, and in his hand a sharp sickle.

15 And another angel came out of the temple, crying with a loud voice to him that sat on the cloud, Thrust in thy sickle, and reap: for the time is come for thee to reap; for the harvest of the earth is ripe.

16 And he that sat on the cloud thrust in his sickle on the earth; and the earth was reaped.

17 And another angel came out of the temple which is in heaven, he also having a sharp sickle.

18 And another angel came out from the altar, which had power over fire; and cried with a loud cry to him that had the sharp sickle, saying, Thrust in thy sharp sickle, and gather the clusters of the vine of the earth; for her grapes are fully ripe.

19 And the angel thrust in his sickle into the earth, and gathered the vine of the earth, and cast it into the great winepress of the wrath of God.  

20 And the winepress was trodden without the city, and blood came out of the winepress, even unto the horse bridles, by the space of a thousand and six hundred furlongs.


Revelation 14
King James Bible


12 And I beheld when he had opened the sixth seal, and, lo, there was a great earthquake; and the sun became black as sackcloth of hair, and the moon became as blood;

13 And the stars of heaven fell unto the earth, even as a fig tree casteth her untimely figs, when she is shaken of a mighty wind.

14 And the heaven departed as a scroll when it is rolled together; and every mountain and island were moved out of their places.

15 And the kings of the earth, and the great men, and the rich men, and the chief captains, and the mighty men, and every bondman, and every free man, hid themselves in the dens and in the rocks of the mountains;  

16 And said to the mountains and rocks, Fall on us, and hide us from the face of him that sitteth on the throne, and from the wrath of the Lamb:

17 For the great day of his wrath is come; and who shall be able to stand?


Revelation 6
King James Bible

SamAdams's picture

Good luck letting G-d fight your fights for you.  Freewill is real.  Pray all you want, they will steal and kill while you are on your knees begging for G-d to save you...  Religion is a tool used to control people.  See how well it works?

InTheLandOfTheBlind's picture

if we fight these devils on our own, we risk becoming devils ourselves... then we will have fought in vain and become what we hate

Herd Redirection Committee's picture

Stare into the abyss too long, and it starts to stare back.

fiftybagger's picture

So you think those words and thoughts quoted above are just something that someone made up to please himself.  Try re-reading them a few times and you just might realize that they are the Words of the Creator of the universe.

francis_sawyer's picture

Well ~ If you want my opinion... They sound like the words that the great, great, great, great, great^10 ancestors of the TRIBAL ANCESTORS of Goldman Sachs employees wrote... [which ~ of course, happened to pass by the cutting room floor at the Council of Nicea]...

freet0pian's picture

God I hate when people can't think for themselves.


Either they believe in a magical old fuck in the sky who tells you what to do or its a miraculous entity that can't do no wrong and has to tell everybody what to do.


Come on people think for yourselves!

freet0pian's picture

Down arrowing doesn't make the magical powers of a god or a gov. anymore real.

DosZap's picture

Good luck letting G-d fight your fights for you. Freewill is real. Pray all you want, they will steal and kill while you are on your knees begging for G-d to save you... Religion is a tool used to control people. See how well it works

Some religions definitely are, however GOD holds all the cards.Freewill is like sin, here till we die, however that is.We are not of this world,and when we pass however that may be, your end destination depends on you.

Freewill, your choice heaven or hell.


Kirk2NCC1701's picture

Thousands of years of history back up this saying:  Religion is true for the Masses, False for the Leaned & Wise, and Useful for the Rulers.

Which are YOU? 

As you may have guessed, for me personally it's False.  But... for me as a 'Leader', it's Useful -- as I don't want to trouble or panic the sheep.  Trouble or panic is bad for careers and for business, when you rule over others.  Knowing which sheep-buttons to press is most useful.  So is knowing which sheep prefer which meadows and which pens.

DeadFred's picture

Always interested in how close of neighbors we are. Small town, fresh air: exclude most of the Bay Area and Sacratomato. I have too much time on my hands I guess, I once followed the clues to pinpoint the exact condo Biderman lives in.

Herd Redirection Committee's picture

The guy who runs Ashley Madison?  j/k

Nobody For President's picture

Sometimes, Knucks, your awe-inspiring philosophical insights are indeed breathtaking. You have once again seen deeply into the true core of economics and markets, and we are all grateful.

I go flying in my little antique (like me) Cub when I need a breath of fresh air and sanity, but I keep my insights to myself. If I can't fly, I drink. Insights come both ways, but I've promised myself not to share them.

However, I'm grateful you do.



 Before Skynet totally fucks all of humanity over.

Where the hell is John Connor when you need him ? 

medium giraffe's picture

Israeli incursion got a green light then?

augustusgloop's picture

got the greenlight? it's the other way around...when bibi talks, the joint chiefs of staff listen.

medium giraffe's picture

It hadn't even occured to me that they would need a greenlight from the US.  I'm not American so I don't see everything through a warped prism of supposed American dominance over everything (as you must, to some extent, to make that leap of logic. Not meaning to offend, but it's telling, is all.)


Can't see anything to back up my cynicism just yet though, but my Spidey Sense is tingling....


SamAdams's picture

Did you know that the same people that own your central bank, created Israel?  These families also own the FED, and are therefore sugar daddy to the US government.  When they are ready to give the order, "bomb iran", our congressional traitors will climb over themselves supplicating to the oligarchy.  Miss "panty boy"Lindsey Grahm, John "Al Queda" McCain and Diane "shredding the Constitution" Feinstein will eagerly toss American soldiers onto the bayonets of the resistance. The elite only care about control, in this case it is money creation, energy, religion, media and food.  With these, the population is subdued. 

medium giraffe's picture

Yes, I did.  I also remember, when studying history, seeing a picture of a white English officer riding an African across a river like a pack horse.  It's something that has never left me.  Please don't assume I'm a statist, or a nationalist, or that I am under any illusion about the crimes against humanity required to build and maintain an empire. 

I am, however, often concerned about the assertions made over the amount of power and control the UK governement or other UK based groups have over America, Israel, and anywhere else for that matter.  Further, presumptions made about the influence of the royal family are frankly hilarious.  They are far less wealthy than many large business owners, and certainly less influential.

The bankers we all love to hate are not a consilidated powerbase operating from a single soveriegnty.  Primarily British, American and Dutch interests contrived to create the experiment that is the modern United States, but even then the interested parties are not confined to just these three countries.  Thinking in terms of bases of national power blinds you to the reality of the pan-global reach of the real paymasters.  It is this ability to be boundless and borderless that allows such a lack of accountability, prosecution and indeed visibility.

 Our empire has waned and dwindled into almost total obscurity.  I'm now watching the US do the same, making almost the same mistakes, and with probably very similar results.  And it's been done before, too.  And remember, the final end to the Western Roman empire was aided by currency debasement. We just go round and round and round.



Herd Redirection Committee's picture

One family at the center of it all: Rothschilds. (not the same as saying soley to blame)

Sums up the international (or supranational) aspect pretty well, when you understand they have had presence in Germany, France, City of London, etc. for more than 200 years.  Reported wealth of $1 billion by 1850! 

1850.  Do the math on $1 billion dollars, accruing at a mere 2% rate, for 163 years.  Now imagine they were able to make 4% or even 6%.  Then consider that they actually were involved in financing wars, governments, drug smuggling...

For those without a calculator, at 6% $1 billion in 1850 will equal $13 trillion today.

Terminus C's picture

Not enough people care, understand, or care to understand what Nanex has to say... thus no need for an "investigation"

Herd Redirection Committee's picture

3 years ago I would just look at these graphs and say "Huh?"

Now, circuit breakers, frontrunning, blatant manipulation, is all old hat.

ironsky's picture

Photos to follow from his Ipad proving that he doesn't recycle carefully.

Stuart's picture

Agreed but the FED is not alone in this.  Other Central Planning authorities are at work here too.    BIG BROTHER has alot of brothers. 

illyia's picture

Last night, and occasionally over the last few weeks, Bloomberg has frozen its ticker flags in the middle of the night. Last night it was on corn, wheat and soybeans so it was rather noticeable. At 3 am et with live anchors in England/Europe, it was likely that some markets in Asia were open. Yet... nothing. For a few hours (I checked sporadically from two to four).

It was rather obvious. There were adjustments being made.


MillionDollarBogus_'s picture

Sure its rigged, but so what..??

Casinos set the odds of every game so that they can't lose, yet look at the numbers of sheep that can't stop gambling.

Not a lot of difference.

Do we bail out of the markets completely and not come back..??



RichardP's picture

Bail out and create new markets locally.  Fund your community, not the world.