This page has been archived and commenting is disabled.

The Deer Returns On Fears Bernanke's Training Wheels Are Coming Off

Tyler Durden's picture




 

One word can describe performance across all asset classes today: clobbered. Stocks tumble, Commodities slide and Bonds crash, with the 5 year suffering the biggest intraday percentage jump in yields... ever! And why? Because Bernanke confirmed what everyone thought they knew, namely that the Fed will start tapering (how else can the Fed match the reduction in gross Treasury issuance at auction without taking over the private market entirely) eventually. Or at least that's what the market read between the Chairman's lines. In reality, Bernanke himself is more dazed and confused than anyone out there and just like Europe, is making it up one day at a time.

 

 

Did the Fed's extraordinary actions increase or decrease realized vol?

 

 

 

leaving the S&P 500 at the lows of David Tepper Day...

 

Commodities were a one way street...

 

FX markets exploded with the USD bid (and if the bulls think carry will save the day - think again - this kind of vol means LESS carry not more)...

 

The Dow saw its 7th day of +/-100 p[oint days - first time since oct 11

Charts: Bloomberg and Capital Context

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 06/19/2013 - 16:07 | 3672864 HedgeAccordingly
HedgeAccordingly's picture

funny stuff.. inflation is nowhere to be seen. yet stocks get smoked http://hedge.ly/187ezYZ

Wed, 06/19/2013 - 16:09 | 3672879 Shizzmoney
Shizzmoney's picture

There is inflation - it's just in Jaime Dimon's wallet.

Wed, 06/19/2013 - 16:10 | 3672884 Hedgetard55
Hedgetard55's picture

Ben's presser was a big FU to Pres. Pakalolo.

Wed, 06/19/2013 - 16:14 | 3672914 SheepDog-One
SheepDog-One's picture

Oh good...now there's a FED/White Hizzy war erupting....NICE!!

Wed, 06/19/2013 - 16:16 | 3672930 Freedom In Your...
Freedom In Your Lifetime's picture

Am I the only one that misses the 5-10% down days? This market has become very boring since 2008-2009.

Wed, 06/19/2013 - 16:18 | 3672943 fonzannoon
fonzannoon's picture

I am waiting to hear that XYZ firm was caught on the wrong end of an interest rate derivative and is in deep shit.

Wed, 06/19/2013 - 16:21 | 3672955 Manthong
Manthong's picture

I just want to know how many milliseconds before the critical seconds of the specific utterances a Fed functionary  leaked the words to their good buddies.

Wed, 06/19/2013 - 16:32 | 3673003 nope-1004
nope-1004's picture

 

 

QE4EVA announced last year, commodities tumble

TAPERing announced (although I believe it's a bunch of BS), commodities tumble.

100% proof that the Presidents Working Group on Financial Markets manipulates EVERY ASPECT OF THIS ECONOMY.

And price controls always work out in the end, don't they?

 

Wed, 06/19/2013 - 16:37 | 3673015 Beam Me Up Scotty
Beam Me Up Scotty's picture

That first chart of the % change in the 5 year kind of looks like a seismograph.  Tremors turning into an earthquake.

Wed, 06/19/2013 - 16:43 | 3673032 jbvtme
jbvtme's picture

the problem isn't money.  we're going post industrial.  now we decide who works and who is food?

Wed, 06/19/2013 - 17:07 | 3673108 negative rates
negative rates's picture

If you're counting on deer and training wheels, look out below.

Wed, 06/19/2013 - 17:21 | 3673151 Uchtdorf
Uchtdorf's picture

Now all your soylent green is mine.

Wed, 06/19/2013 - 16:45 | 3673033 nope-1004
nope-1004's picture

QE has to go on forever, because this talk of "taper" was to try to push investors out of equities and into treasuries.  Didn't work.  Bernocchio was noticeably nervous today because he knows he has lost control of the bond market.  Rates are rising and the only way to cool them off is MOAR QE.

Capital is flowing where it needs to and away from the charade.

Good luck Ben.... you're going to need it.

 

Wed, 06/19/2013 - 17:18 | 3673059 ZerOhead
ZerOhead's picture

Actually it's WE that are going to need the luck... Ben and his friends know how to take care of themselves.

He's got a QE monkey on his back and he can't stop now... the questions are;

1) Does he really care about the country or merely the primacy of the elite

2) Is he going to ramp up the opportunity for exploitation of this crisis in ways you can not yet imagine to obscenely profit ($T^1) his benefactors... (pardon the pun...)

 

As Obama's former COS Emmanuel once so succinctly put it... "Never let a good crisis go to waste..."

Wed, 06/19/2013 - 18:31 | 3673450 jekyll island
jekyll island's picture

There is no way QE can end, if bonds get no bid interest rates will rocket up and US will be crushed by payments on debt.  Gold is going to be used to balance the books of debtor nations after they print and erase their oblicgations, granted at a much higher price than it is now.  It is the only thing that the world economies will accept after all this money printing.  

Wed, 06/19/2013 - 16:45 | 3673043 markettime
markettime's picture

Might have to buy some more gold soon as it got whacked today.

Wed, 06/19/2013 - 16:33 | 3673004 camaro68ss
camaro68ss's picture

Happy Tapper day boys and girls

With love,

Uncle Bernake

Wed, 06/19/2013 - 16:45 | 3673044 toady
toady's picture

The real deal is the boys on the street want the bernank to disavow the word taper. They want 100B a month, not 85. All the way to 100T a month. More more more moar!

Since he insists on the word taper, they will gently bludgeon him until he relents.

Wed, 06/19/2013 - 16:23 | 3672961 SafelyGraze
SafelyGraze's picture

fortunately, the Nank is realizing that he is not bound by pomo.

if the treasury doesn't issue enough debt that the nank can purchase from primaries, then just bypass that little obstacle altogether.

you will soon be seeing outright flow of funds directly to the primaries, as though treasury debt were being purchased.

'virtual treasurys' is the working title for the program.

Wed, 06/19/2013 - 17:08 | 3673112 caconhma
caconhma's picture

Thanks to FED, US economy is moving from a “Great Recession" to a Great Depression.

So, who will support all these people on food-stamps and all these States and municipalities living on government substance?

Wed, 06/19/2013 - 17:20 | 3673142 CrashisOptimistic
CrashisOptimistic's picture

It's quite puzzling how the Fed's own projections of 2013 GDP have lowered since their March meeting, but he says it's gotten better.

Wed, 06/19/2013 - 17:25 | 3673179 Uchtdorf
Uchtdorf's picture

Problem: You are not allowed to question the Great and Powerful Oz.

Solution: Follow the yellow brick road.

Wed, 06/19/2013 - 18:34 | 3673458 jekyll island
jekyll island's picture

caconhma, 

 

The entitlement populus, let's call them the 47%, will riot not when the SNAP cards don't work, but rather when bread is $15 a loaf.  It will be ironic that the very people the gubmint used to buy votes will be the ones who take them down.  

Wed, 06/19/2013 - 16:39 | 3673021 Panafrican Funk...
Panafrican Funktron Robot's picture

Fonz:  Getting closer to that magic 2.5% level in the 10 yr.  

And by magic, I mean giant fucking fireballs raining down from a swirling, black cloud of death.

Wed, 06/19/2013 - 16:53 | 3673071 pods
pods's picture

Shit, at 2.5% the 10 year will be higher than my mortgage.

Liked the descriptor btw, nice visual!

pods

Wed, 06/19/2013 - 16:55 | 3673078 fonzannoon
fonzannoon's picture

They made Gundlach and Gross look like amateurs today. If we get to 2.50% and someone is leveraged up somewhere it's going to get interesting quick.

Wed, 06/19/2013 - 17:08 | 3673113 SAT 800
SAT 800's picture

Very disappointed in Gundlach; he's starting to look like one of the people who got high scores on tests but never really figured out what was going on. Very superficial analysis he made to anounce a coming rally in Bonds; for the record, I'm saying no. He's wrong. Groos has already lost a shit load of money; Kyle Bass is my main man; he knows what bullshit smells like, and he has absolutely no respect for any of the government-quasi government, assholes.

Wed, 06/19/2013 - 16:40 | 3673026 Dr. Venkman
Dr. Venkman's picture

Maybe that is a tonic for what ills BB?? Rates popped because he said, truthfully, that the economy is in the midst of a robust improvement. Big bad XYZ was betting against the economy. Not our (FED) fault. USA!

 

 

Wed, 06/19/2013 - 17:10 | 3673118 SAT 800
SAT 800's picture

You can't be serious. Rates popped because there were more sellers than buyers in the bond market; that's how prices go down; it's the falliing sale price of the Federal Promise that is recorded as a "higher interest rate", which incidiently will never be paid. Wake up, please.

Wed, 06/19/2013 - 17:21 | 3673155 Dr. Venkman
Dr. Venkman's picture

THanks for the lesson, SAT. I was not being serious; There will have to be a few bodies that hit the floor, and BB will need some BS to shovel over them. I was providing the BS. Apologies.

Wed, 06/19/2013 - 17:25 | 3673173 css1971
css1971's picture

Do the sellers just throw the excess bond certificates out the window and hope someone picks them up?

There's a buyer for every seller.

Wed, 06/19/2013 - 16:42 | 3673029 Its Only Rock N Roll
Its Only Rock N Roll's picture

that is coming for sure

Wed, 06/19/2013 - 16:55 | 3673075 pods
pods's picture

Fonz, you just could have said DB.

pods

Wed, 06/19/2013 - 16:56 | 3673080 fonzannoon
fonzannoon's picture

Ha!

Wed, 06/19/2013 - 16:19 | 3672944 otto skorzeny
otto skorzeny's picture

Those were heady days- bouncing my newborn on my lap and watching the 700 point drops.

Wed, 06/19/2013 - 16:28 | 3672982 Go Tribe
Go Tribe's picture

Ahhh, the ole double-inverse ETF days....Perhaps they'll return.

Wed, 06/19/2013 - 16:51 | 3673061 astoriajoe
astoriajoe's picture

Yeah, those were some good times. Good times....

Wed, 06/19/2013 - 16:14 | 3672915 kliguy38
kliguy38's picture

You pull QE and you just might as well pull a pin on a figurative ponzi grenade for the Faux market......it would be lights out mofo.......and that AINT the way these slimballs will do.......or is it????......wanna bet YOUR money.....

Wed, 06/19/2013 - 16:11 | 3672894 Timmay
Timmay's picture

"If the situation improves we will scale back QE, if it worsens we will add more".

 

So, the situation isn't "good" now or you would be scaling back and if it worsens you will not only continue with an admitted failure of a policy but do more of it?

Dis nigga trippin'.

Wed, 06/19/2013 - 16:20 | 3672952 SheepDog-One
SheepDog-One's picture

It's 'Goldilocks'ed' of course, everything 'juuuuust riiiiiight'.

Wed, 06/19/2013 - 16:21 | 3672953 franzpick
franzpick's picture

Having lost sight of our goals, and our methods, we'll do the .gov thing - re-double our efforts.

Wed, 06/19/2013 - 16:44 | 3673035 SAT 800
SAT 800's picture

Awesome avatar name; he's responsible for my favorite quote; "bonds are instruments of guaranteed confistication".

Wed, 06/19/2013 - 17:07 | 3673109 franzpick
franzpick's picture

I liked his: "The bodies of the dead corporations are lying in the gutters of Wall St., but no one will pick up the corpses."

Wed, 06/19/2013 - 17:13 | 3673122 SAT 800
SAT 800's picture

chuckle. he was one of the good ones, alright. Smart and tough.

Wed, 06/19/2013 - 16:31 | 3672997 underman
underman's picture

And yet the fear guage is slightly lower today.

Wed, 06/19/2013 - 16:40 | 3673027 Sweet Chicken
Sweet Chicken's picture

Can anyone one please point me in the direction of an article that will help me educate someone about all of this?! I do not have a good enough grasp to do so. Thank you in advance. :)

Wed, 06/19/2013 - 16:50 | 3673060 wisehiney
wisehiney's picture

Mad Magazine

Wed, 06/19/2013 - 16:51 | 3673063 Sweet Chicken
Sweet Chicken's picture

HAHA nice +1

Wed, 06/19/2013 - 17:06 | 3673103 Sweet Chicken
Sweet Chicken's picture

C'mon I know there were some great articles not too long ago here at the Hedge?! Tyler?!

Wed, 06/19/2013 - 17:39 | 3673258 Sweet Chicken
Sweet Chicken's picture

LMAO you guys are the best

Wed, 06/19/2013 - 17:23 | 3673162 Fukushima Sam
Wed, 06/19/2013 - 17:42 | 3673269 Sweet Chicken
Sweet Chicken's picture

Thanks Sam, anything from the Hedge that provides more current events?! 

Wed, 06/19/2013 - 16:10 | 3672887 transaccountin
transaccountin's picture

Man after that press confrence this guy has no fuking clue. I mean jesus god. Its print and pray. WTF and this market believes this shit. SAP500 at 1600+, how the fuk man. Take away the printing and we are in collapse. Must be patriotic and common sense now that we print twice as fast. No more bad leadership or burden on our children remarks by our fucking dictator.

Wed, 06/19/2013 - 16:12 | 3672896 otto skorzeny
otto skorzeny's picture

WWIII here we come- right back where we started from.

Wed, 06/19/2013 - 16:24 | 3672968 franzpick
franzpick's picture

Gap down open tomorrow, and go see the island-gap-reversal in NDX and RUT:

http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=ndx&insttype=&freq=1&show=&time=5

Wed, 06/19/2013 - 19:38 | 3673613 espirit
espirit's picture

I was kind of looking for some EMP action to get the ball rolling.

Too many people for a planet with finite resources.

Wed, 06/19/2013 - 18:09 | 3673102 Winston Smith 2009
Winston Smith 2009's picture

World War Z, the "Z" standing for "ZIRP trap":

http://gnnaz.com/wp-content/uploads/2013/04/world-war-z1.jpg

Watching the replay right now, ZIRP will be in place through 2015 (at least) and will only be very gradually increased from then.

Wed, 06/19/2013 - 16:34 | 3673009 underman
underman's picture

It's not about the "market" believing in this shit.  It's a game controlled by few all-mighty players.  Cartel.  

Wed, 06/19/2013 - 16:14 | 3672916 Banksters
Banksters's picture

FUckin Fed will own 3 Trillion in debt without every getting a callous on their milky white hands.  LOL

 

FUCK YOU BERNANK.  I HOPE YOU AND YOUR ILK HANG FOR TREASON!

Wed, 06/19/2013 - 16:17 | 3672931 Lore
Lore's picture

HedgeAccordingly: "Inflation is nowhere to be seen."

Some people don't get out much.

Wed, 06/19/2013 - 16:46 | 3673042 BurningBetty
BurningBetty's picture

well, there is hardly inflation in commodities, and PM are in freefall. Adjusted for all the money being printed you'd expect everything to be soaring together with the stockmarket and equities. So far..nothing. It's like the deflationary monster is somewhere out there, lurking, hiding. Waiting for a perfect opportunity to strike.

Wed, 06/19/2013 - 17:05 | 3673104 NoDebt
NoDebt's picture

Dr. Copper has been screaming that for MONTHS.

There is no growth.  Not here, not in Europe, not in Japan, not even in China (which by my calculations, is running right around flatline, despite the government propoganda numbers).

The only place there is inflation is in the price of investments (since that's where all the QE money drops to the ground first) and in some of life's necessities like food, energy, etc. (since they are both NECESSARY and the world is competing for those limited resources now more than ever).

Wed, 06/19/2013 - 18:23 | 3673422 PiratePawpaw
PiratePawpaw's picture

Calm before the storm.

Im not sure where we are any more, or which way from here.....

but it damn sure isnt Kansas. 

Its gonna get wierd soon toto........

Wed, 06/19/2013 - 21:02 | 3673743 Lore
Lore's picture

@BurningBetty - Are you so wealthy that someone else does all your shopping?

YOU WANT TO SEE INFLATION?  GO TO THE GROCERY STORE. 

Prices are +25-30% since the start of the year, just as a baseline. Some things are up 300% or more.

Wed, 06/19/2013 - 16:17 | 3672941 The Gooch
The Gooch's picture

MOAR Venison!!!

(stock up now, kids)

Wed, 06/19/2013 - 16:18 | 3672942 Martial
Martial's picture

You're either with Ben, or you're with the terrorists!

Wed, 06/19/2013 - 16:07 | 3672866 The Shootist
The Shootist's picture

Fuck you Federal Reserve!

Wed, 06/19/2013 - 16:07 | 3672867 fuu
fuu's picture

Vini, vidi, venison.

Wed, 06/19/2013 - 16:08 | 3672868 Martial
Martial's picture

Oh hell yea!! Love that damn deer! It's benny's worst nightmare.

Wed, 06/19/2013 - 16:07 | 3672872 NotApplicable
NotApplicable's picture

Are the wheels falling off, or were the lugnuts removed?

Wed, 06/19/2013 - 16:13 | 3672906 Bay of Pigs
Bay of Pigs's picture

We're riding on the rims and they are on fire...

Wed, 06/19/2013 - 16:24 | 3672970 ParkAveFlasher
ParkAveFlasher's picture

Wile E. Coyote has just realized that he may have miscalculated his trajectory, and upon reaching his hand downwards below his ass to grasp earth, he finds only flat air.

Wed, 06/19/2013 - 16:07 | 3672873 franzpick
franzpick's picture

Helicopters with training wheels?

Wed, 06/19/2013 - 16:24 | 3672964 SimMaker
SimMaker's picture

Lawn mowers.

Wed, 06/19/2013 - 16:57 | 3673083 astoriajoe
astoriajoe's picture

trillion dollar new defense project.

Wed, 06/19/2013 - 16:07 | 3672874 TLT
TLT's picture

I want to see US yields exploding.

Wed, 06/19/2013 - 17:16 | 3673126 Monkeyfister
Monkeyfister's picture

Me too-- I am long US Bonds!

Wed, 06/19/2013 - 16:09 | 3672875 Cursive
Cursive's picture

BernanQE imitated a deer in the headlights today when some reporter asked him if "stock" matters more than "flow."  BernanQE's defense of "stock" versus "flow" sounded like he was defending the existence of the Easter Bunny.

Wed, 06/19/2013 - 16:16 | 3672928 fonzannoon
fonzannoon's picture

I wish we could get a replay of that question. That was fascinating.

Wed, 06/19/2013 - 16:12 | 3672877 Dr. Engali
Dr. Engali's picture

Now if we could just get a deer in the headlight, and a muppet slaying picture in the same story. Toss in the exploding head gif and my day will be made.

Wed, 06/19/2013 - 16:29 | 3672984 graneros
graneros's picture

Hey Doc your almost there.  You forgot to add that said story be on a page where all the ads are of the camel toed, big sunglasses, t-shirt babe.

Wed, 06/19/2013 - 16:59 | 3673091 pods
pods's picture

You saw the google thread, start googlin!

pods

Wed, 06/19/2013 - 17:19 | 3673137 css1971
css1971's picture

No more exploding head gif.

 

Wed, 06/19/2013 - 16:13 | 3672881 EclecticParrot
EclecticParrot's picture

Jhonny Algo:  “Bernanke danced a decent watusi, so why the big plunge ?”

Suzy Algo:  “The programmers who created us pumped our source code with FOMC tactics – which backfired.”

Jhonny:  “Friggin’ Opie Mouthed Commies ?”

Suzy:  “Not quite (though they’d appreciate the R.E.M. reference).  They used a keyword subroutine for the Fed minutes, then a speech-to-text engine that faded CNBC guests’ interpretations before tackling Ben’s press conference.”

Jhonny:  “Where did the breakdown occur?”

Suzy:  “The streaming feeds were bungled, and they actually parsed an episode of ‘The Wire’ — found the word ‘Bubbles’ 13 times.”

Jhonny :  “Oh, no!  Can we recover from this, I mean, will the big banks ever use us again?”

Suzy:   “Well, we lost a LOT of credibility that could take some time to rebuild.”

Jhonny:   “So . . . you’re thinking by tomorrow afternoon, then?”

Suzy:   “Yeah, that’s about right .”

Wed, 06/19/2013 - 17:41 | 3673266 lakecity55
lakecity55's picture

That is a really bad picture of Barry X. You can see the hand, however, so that makes up for the lousy photo.

Wed, 06/19/2013 - 16:09 | 3672883 Midasking
Midasking's picture

The Bernank should issue trillion dollar coins to everyone on his way out the door! That will get things moving again.. http://tinyurl.com/mem7o7x

Wed, 06/19/2013 - 16:10 | 3672885 101 years and c...
101 years and counting's picture

go to ICI and look up the fund flows.  massively negative the last 2 weeks.

Wed, 06/19/2013 - 16:10 | 3672888 The Proletariat
The Proletariat's picture

You know....if you put a horn in between those ears, it would kine of look like a unicorn.  Best, Ben Bernanqe

Wed, 06/19/2013 - 16:11 | 3672891 Hedgetard55
Hedgetard55's picture

Turnaround Thursday comin' right up.

Wed, 06/19/2013 - 16:11 | 3672893 Divine Wind
Divine Wind's picture

 

 

The lines outside of gold shops in Asia later today ought to be incredible.

Wed, 06/19/2013 - 17:37 | 3673237 lakecity55
lakecity55's picture

I hate to say it, but I will.

Right now, I am glad more amerikan sheeps have not begun to load up on PMs.

When the time comes, there will not be any. It is really amazing there are photos of Celestials and Indians loading up, but nobody is taking the hint except for here.

Meanwhile, ZHers...

Keep Stackin!

Wed, 06/19/2013 - 16:22 | 3672895 alphamentalist
alphamentalist's picture

thanks for posting the deer. i find her company to be oddly comforting today. 

Wed, 06/19/2013 - 22:42 | 3673986 juslen
juslen's picture

Shit, I hit a deer Sunday. It didn't even bother looking into my headlights. It just ran right in front of my car. Lucky I have insurance!

Wed, 06/19/2013 - 16:12 | 3672898 bill1102inf
bill1102inf's picture

GOLD...... lol

Wed, 06/19/2013 - 16:23 | 3672962 Bay of Pigs
Bay of Pigs's picture

MOAR paper gold being sold...that is pretty funny as physical demand increases.

The divergence of ASE sales and price of silver is even moar fascinating (Drutters Divergence).

http://goldsilver.com/video/amazing-silver-data-came-from-citizen-journalist/

Wed, 06/19/2013 - 16:12 | 3672900 Agent P
Agent P's picture

Doe!

Wed, 06/19/2013 - 16:30 | 3672994 WillyGroper
WillyGroper's picture

Knob.

Wed, 06/19/2013 - 16:45 | 3673041 Agent P
Agent P's picture

Gobbler.

(I always got sent to the corner when we played the word association game in school).

Wed, 06/19/2013 - 16:49 | 3673053 franzpick
franzpick's picture

Doe: I'll never go in those woods for two (bernanke) bucks again.

Wed, 06/19/2013 - 16:57 | 3673081 Agent P
Agent P's picture

Hey, do you know the difference between Beer Nuts and Deer Nuts?  Beer Nuts are $2.95 a bag, and Deer Nuts are under a buck.

Wed, 06/19/2013 - 17:21 | 3673152 SAT 800
SAT 800's picture

Groan.

Wed, 06/19/2013 - 17:33 | 3673224 lakecity55
lakecity55's picture

Careful, that is our beloved ZH Official Deer Photo.

Wed, 06/19/2013 - 16:13 | 3672901 franzpick
franzpick's picture

Turnaround and Ben Dover.

Wed, 06/19/2013 - 16:13 | 3672902 ekm
ekm's picture

Let me repeat this again:

Tapering started many weeks ago.

Full Halt - Imminent

 

Fed doesn't need meetings to do things.

Wed, 06/19/2013 - 16:32 | 3673001 ParkAveFlasher
ParkAveFlasher's picture

Yeah, why does everyone think they announce QE at or around the meetings?  Announcement of QE has nothing to do with actual QE, except that one comes some time distant from the other, in some way that most people have no visibility to.

Wed, 06/19/2013 - 16:46 | 3673049 kito
kito's picture

ekm how can you know such unknowable things!!!!!

Wed, 06/19/2013 - 16:52 | 3673066 ParkAveFlasher
ParkAveFlasher's picture

He's Batman.

Wed, 06/19/2013 - 16:54 | 3673073 Panafrican Funk...
Panafrican Funktron Robot's picture

I know, right?  It's like he has access to super secret data like this!

http://www.bloomberg.com/quote/USGG10YR:IND

Notice May 1st - current.  Went from 1.63 - 2.35 in a little less than 7 weeks.  

Wed, 06/19/2013 - 18:02 | 3673341 ekm
ekm's picture

Correct.

Just reading the reality, that's it

Wed, 06/19/2013 - 17:57 | 3673320 ekm
ekm's picture

Simple answer: Yield up=taper ongoing

 

Imminent halt, sure, did you check crude oil price?

 

Reality shows what's happening.

Wed, 06/19/2013 - 17:59 | 3673331 fonzannoon
fonzannoon's picture

You are right about Crude, that's for damn sure.

Wed, 06/19/2013 - 18:00 | 3673337 ekm
ekm's picture

Discard the TV fonz, and you'll find a different reality

Wed, 06/19/2013 - 16:54 | 3673072 jon dough
jon dough's picture

Good one, ekm, logged in just to up arrow you, +1

Wed, 06/19/2013 - 18:04 | 3673352 ekm
ekm's picture

Thank you, sir, humbled.

Nothing superhuman, no inside knowledge, just reading the ongoing reality which is hugely enhanced by not having a TV sets since 2001.

I have decontaminated the main stream media from my brain

Wed, 06/19/2013 - 22:59 | 3674029 jon dough
jon dough's picture

My brain's pollution is slow to leave. I'll just keep at it.

You, sir, are most welcome. I'm looking forward to more great insights from you and the rest of the inmates here at Club 0H.

And now...back to the show...

Wed, 06/19/2013 - 16:13 | 3672903 SheepDog-One
SheepDog-One's picture

YAY! Deer in headlight pic again FINALLY!

BTW Slaughterer got it right.

Wed, 06/19/2013 - 16:15 | 3672913 MFLTucson
MFLTucson's picture

Interesting article but, why was Gold and Silver down?

Wed, 06/19/2013 - 16:21 | 3672958 Lore
Lore's picture

FOMC meeting. What was said is irrelevant. Information is irrelevant. All that matters is the keywords and the calendar entry. There are no markets anymore.

Wed, 06/19/2013 - 16:23 | 3672960 SheepDog-One
SheepDog-One's picture

Why? Because it's easy.

Wed, 06/19/2013 - 16:26 | 3672963 sitenine
sitenine's picture

@MFLTuscon

Because GLD and SLV are not commodities anymore. They are just pieces of worthless unbacked paper like everything else. Take advantage,  buy physical.

Wed, 06/19/2013 - 16:28 | 3672979 foxenburg
foxenburg's picture

@MLFTucson Because these days it seems whether the news is good or bad, terrifying or soothing, risk on or off.......gold seems to take a hit.

Wed, 06/19/2013 - 17:24 | 3673171 SAT 800
SAT 800's picture

It doesn't matter; there isn't any rational explanation; daily prices are meaningless; the downwiash occured after the floor trading closed in NY; so it's electronic; Globex. Next we wait to see what Hong Kong does with it later today. But it has no "meaning". What you want to know is will they by up by Christmas, and the answer is yes.

Wed, 06/19/2013 - 17:29 | 3673206 lakecity55
lakecity55's picture

Paper Ag and Au are down.

The PMs in my lake are still the same size.

I checked on them today with my scuba gear.

Wed, 06/19/2013 - 23:26 | 3674081 fuckitall
fuckitall's picture

PMs run with printing more or less.  Less printing, PMs drop. 

And that includes hints & rumors.

Wed, 06/19/2013 - 16:14 | 3672917 TrustWho
TrustWho's picture

May the market follow-thru and serve Daddy Bernanke a humble pie.

Wed, 06/19/2013 - 16:20 | 3672956 WoodMizer
WoodMizer's picture

HaHaHaHaHa,

"Market" that's a good one.

Bernanke, is the market.  His statements just set up the bad news is good news system to buy more time.  The seasonal adjustments will turn and presto 2 more years of breathing room for the new guy.  QEinf. +1 will be Japan style shock and awe.

Wed, 06/19/2013 - 16:39 | 3673023 PKF
PKF's picture

I thought it was QEinf x QEinf.

Wed, 06/19/2013 - 16:14 | 3672919 otto skorzeny
otto skorzeny's picture

big stock market dump(30%+ correction)=time for another false flag diversion.

Wed, 06/19/2013 - 16:15 | 3672922 WoodMizer
WoodMizer's picture

Move along; nothing to see here.

Next up on Bloomberg: Sbux shows calorie count,

and should Captain Crunch be Commander Crunch.

Business as usual in the new normal.

Wed, 06/19/2013 - 16:15 | 3672926 Cdad
Cdad's picture

Love the deer.  An instant LOL.

Wed, 06/19/2013 - 16:16 | 3672927 Seasmoke
Seasmoke's picture

WOW He sounded like it was his first day on the job . He never recovered from that ship landing on an aircraft..

Wed, 06/19/2013 - 16:16 | 3672929 stinkhammer
stinkhammer's picture

stupid is as stupid does

Wed, 06/19/2013 - 16:19 | 3672945 sharkieboy
sharkieboy's picture

Benny just covering is Ass. He is leaving in January but the QE will continu for another 2-3 years.

Wed, 06/19/2013 - 16:22 | 3672959 EclecticParrot
EclecticParrot's picture

 

(With apologies to The Cure:)

 

JUST LIKE GREENSPAN

 

Show me how you do that trick,

the one that made stocks plunge, she said

The one that made yields spike, she said

and threw her arms around my neck

Show me how you do it, and I promise you,

I promise that I’ll run away with you

I’ll run away with you

 

You, lost and lonely

Just like Greenspan

Wed, 06/19/2013 - 16:24 | 3672966 SheepDog-One
SheepDog-One's picture

So now we'll hear every day 'I wonder what Ben's NEXT move is...we're waiting with bated breath for the next FOMC and marching in place till then!'

Wed, 06/19/2013 - 16:24 | 3672967 AuEagleNest
AuEagleNest's picture

WTF?? Somebody enlighten me. Why is the USD up and gold down? How the fuck does anyone have confidence in the dollar after this clusterfuck?

Wed, 06/19/2013 - 16:29 | 3672987 lolmao500
lolmao500's picture

As Kyle Bass said... ``investors`` don't want to think how bad things will be if Bernanke fails... so they ignore reality.

Wed, 06/19/2013 - 16:44 | 3673038 PKF
PKF's picture

His speech (as seen on ZH today) was quite timely.  WS is in Denial...and then with the flip of a switch, WS wakes up and no one can get out fast enough. 

Maybe WS can join us non-denial folks here on Main Street. 

Long pitchforks and torches!

Wed, 06/19/2013 - 16:32 | 3673002 Bay of Pigs
Bay of Pigs's picture

All paper gold vehicles, futures, options, ETF's are getting blowtorched. Allocated, unallocated, it won't fucking matter...you will not get your gold. Counterparty risk has arrived...so you better have your own two hands on your metal. If not, it's,

Game.Set.Match bitchez...

Wed, 06/19/2013 - 17:28 | 3673191 SAT 800
SAT 800's picture

Confidence in the dollar is the default position of 98% of the citizens; the people who know better are in a tiny minority. "Up" in this case, means it's time for the FX trades to swing  a little; it's profoundly meaningless. Gold will be higher at Christmas time than it is today; that's all that matters.

Wed, 06/19/2013 - 16:25 | 3672969 arcos
arcos's picture

Almost everything got crushed with the exception of crude oil. Barely moved and hovering around record price of 98$.

The problem is not Bernanke nor the Banks etc., the problem are crude prices. Just to high and they are getting higher, 100% bet!

Wed, 06/19/2013 - 16:45 | 3673048 PKF
PKF's picture

Oil loves the saber rattling of upcoming wars....

Wed, 06/19/2013 - 17:49 | 3673293 Poor Grogman
Poor Grogman's picture

Controlled deflation/tapering will keep WTI close to where Ben wants it.

2008 scared the shit out of them.

Never again will the cartel take their hand off the throttle, it's all in now...

Wed, 06/19/2013 - 16:26 | 3672977 amadeusb4
amadeusb4's picture

This fails the smell test. Why announce tapering? Especially since it's not actually slated to happen until next year and even then conditional upon a bunch of pie in the sky. The fed may be letting some air of the the equities bubble while allowing those taking profits on their PCLN, CMG and NFLX positions to enter bonds at a discount to May rates. Stocks correct, rates fall back down. Everyone is happy. Well, everyone that matters. Too bad about your 401k's wage slaves. Look's like you'll need to work longer to give your buy and hold strategy more time to make up for the losses.

Wed, 06/19/2013 - 16:34 | 3673007 wisehiney
wisehiney's picture

Trying to make fence sitters jump into a mortgage/house. Gonna turd when he finds out there are no fence sitters.

Wed, 06/19/2013 - 16:28 | 3672981 lolmao500
lolmao500's picture

Now if Japan could blow up and make Bernanke have a heart attack that would be nice.

Do NOT follow this link or you will be banned from the site!