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Yellen Nomination Rally Half-Life 90 Minutes

Tyler Durden's picture




 

When Larry Summers stepped away from the nomination for Fed Chair, S&P 500 futures ramped vertically by over 20 points. The reaction to the nomination of Janet Yellen managed a limp 6 point surge in S&P futures. Worse still, it took 24 hours for the Summers-Out ramp to be cut in half... Yellen's 'ramp' has already given back half of her gains in 90 minutes. It seems The White House needs change of narrative - or just another bargaining chip to piss the Republicans off - and judging by the "sudden" rip higher in AUDJPY, 'someone' is trying desperately to spark some momentum ignition... but for now - it's not working. Timing is everything we guess.

 

Well that's not very impressive is it?

 

Especially when compared to Summers-Out news...

It seems the market priced in the Queen of Doves in the run-up to the un-Taper.

 

But that's not stopping the machines from trying their best to spark a rally...

 

Someone wants this Yellen nomination to be a big deal - they just chose a bad time to do it...

 

Someone really really really wants the US equity market higher - 3rd momentum ignition try tonight...

 

 

Charts: Bloomberg

 

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Tue, 10/08/2013 - 20:35 | 4036430 1835jackson
1835jackson's picture

Yellen. Moar.

Tue, 10/08/2013 - 20:43 | 4036438 Cult_of_Reason
Cult_of_Reason's picture

The squeeze will start violently when European markets open. A lot of traders were positioning themselves on the short side today.

Tue, 10/08/2013 - 20:41 | 4036444 King_of_simpletons
King_of_simpletons's picture

The real fun has started. It's going to be be full-blown entertainment from now on.

Tue, 10/08/2013 - 20:53 | 4036469 Arius
Arius's picture

it was me .. sorry, my bad

Tue, 10/08/2013 - 21:03 | 4036499 Cult_of_Reason
Cult_of_Reason's picture

The finances of the French (US) government were in a terrible mess. Louis XIV (Bush-Obama) had spent much of his long reign fighting expensive wars. The monarchy (US government) struggled to pay the interest on its debt.

Law's (Bernanke-Yellen's) insight was that economic activity could be boosted by the use of paper money to expand money supply.

It worked initially but eventually failed and the money printing scheme collapsed. Law (Bernanke & Yellen) was exiled and died in poverty. The French (US) state's finances stayed weak, helping trigger the 1789 French (~2015 US) revolution.

Tue, 10/08/2013 - 21:06 | 4036518 old naughty
old naughty's picture

so we expect to see >3-quarter-life of Ben's 300% growth in Fed balance sheet...

Tue, 10/08/2013 - 21:18 | 4036553 Cult_of_Reason
Cult_of_Reason's picture

Law's money printing insanity lasted four years (1716-1720) before it colapsed.

 

It is hard to tell for how long will money printing insanity of Bernanke-Yellen last (4 years or longer?), but it will eventually colapse too.

Tue, 10/08/2013 - 22:54 | 4036841 John Law Lives
John Law Lives's picture

It worked until it didn't...

FUBAR.

John Law Lives

Wed, 10/09/2013 - 05:08 | 4037233 MarcusLCrassus
MarcusLCrassus's picture

"Everything was going right up until the day everything started to go wrong." - Gary Oldman, Romeo is Bleeding

Tue, 10/08/2013 - 23:24 | 4036915 Freddie
Freddie's picture

Half-Life - I was thinking of the video game by the same name.  A secret govt bio weapons lab has an accident and all the workers die and are turned into zombies. 

Washingtin DC needs flesh eating zombies wandering through the halls of the Marriner Eccles building in DC plus the White Hut and Capitol. 

 

http://en.wikipedia.org/wiki/Eccles_Building

http://en.wikipedia.org/wiki/Half-Life_%28video_game%29

 

Tue, 10/08/2013 - 21:20 | 4036556 john39
john39's picture

i can't believe that people are still so blind as to think anyone 'appointed' to 'run' the FED does anything at all.   this is all show folks.   the system only has power as long as we believe it does.  as enough turn their back, and walk away (however they can) it will collapse.

Tue, 10/08/2013 - 22:31 | 4036781 max2205
max2205's picture

Update 4..... PPT will ramp hard to corornate her highness

Tue, 10/08/2013 - 23:33 | 4036934 DeadFred
DeadFred's picture

They can try but right now they are stuck on the south side of the 100dma and can't break back through. Sucks to be them ;)

Tue, 10/08/2013 - 21:01 | 4036496 walküre
walküre's picture

too early to cover, this downdraft got legs

Tue, 10/08/2013 - 20:46 | 4036458 101 years and c...
101 years and counting's picture

a 67 year old fat, clueless cow to run monetary policy. great.  god, i hope she does of a massive heart attack the next time she follows up a triple bacon burger with a glass of bacon fat.  so, maybe before the open.  die cow, die.

Tue, 10/08/2013 - 20:53 | 4036473 Pure Evil
Pure Evil's picture

That's probably what the Sheiks in Saudi Arabia are thinking.

Tue, 10/08/2013 - 21:04 | 4036498 nmewn
nmewn's picture

You've managed to offend, the elderly, the obese, Wall Street bankers, muslims, hindus, statists and feminists in just one post!

All I can say is well done ;-)

Wed, 10/09/2013 - 06:13 | 4037260 Mentaliusanything
Mentaliusanything's picture

The great joke of her appointment has a punch line.  RUN ( do not walk) to the exits. Has the World gone completly insane.

Tue, 10/08/2013 - 21:19 | 4036559 zorba THE GREEK
zorba THE GREEK's picture

Yellen.......PRINT,PRINT, PRINT, PRINT, PRINT, PRINT, PRINT, PRINT.

And Janet accepted the nomination in her "Print" dress.

Tue, 10/08/2013 - 22:36 | 4036796 Freddie
Freddie's picture

Dr. Jim Willie said at the start of QE that it would be QE Infinity.   He also is saying now that they are printing more than $85 billion a month and will probably double or triple it.   Insanity.

Wed, 10/09/2013 - 08:41 | 4037481 BigSimes
BigSimes's picture

Yellen. She's Back. And QE isn't goingback...

http://goldpricefuturepredictions.com/?q=content/new-fed-treasurer-gold-...

 

Tue, 10/08/2013 - 20:36 | 4036432 seek
seek's picture

This is like whipping 1000lbs of hamburger meat and wondering why it doesn't "giddyup."

Tue, 10/08/2013 - 20:37 | 4036433 XenoFrog
XenoFrog's picture

Cardio my friend, cardio.

Wed, 10/09/2013 - 03:05 | 4037161 SHRAGS
SHRAGS's picture

"like being savaged by a dead sheep"

--Denis Healey  commenting on an being attacked by Geoffrey Howe, House of Commons, 1978

Tue, 10/08/2013 - 20:39 | 4036434 Pure Evil
Pure Evil's picture

Its gonna take more than a couple of Cialis to get this tired horse up tonight.

Don't blame the market, one look at Yellen, and its ED for life.

Tue, 10/08/2013 - 20:57 | 4036482 nmewn
nmewn's picture

No one seems impressed with a re-tread, a Chris Dodd look-a-like...as a woman.

How odd ;-)

Tue, 10/08/2013 - 21:15 | 4036537 Pure Evil
Pure Evil's picture

Ummmm......she's yummy to the tummy!

 

Moar like a morph between Chris Dodd and Bwaney Fwank.

 

Manish enough to almost be gay for Flaming Ohomo, but still dykish enough for Hitlery.

Tue, 10/08/2013 - 20:39 | 4036436 Number 156
Number 156's picture

Bad timing, and being Janet Yellen doesn't help either.

Tue, 10/08/2013 - 20:44 | 4036439 One And Only
One And Only's picture

Put a woman in charge of money and credit and disaster is guarnteed.

We are all fucked beyond measure.

Any straight guy knows these words are truth.

Fuck it, I'm open to chaos.

Tue, 10/08/2013 - 20:52 | 4036465 King_of_simpletons
King_of_simpletons's picture

She will only be dealing with worthless monopoly money. So we are okay.  So what's next, QE4 with $150B every month ?

Tue, 10/08/2013 - 20:54 | 4036480 khakuda
khakuda's picture

Sure. May as well turn the knob to 11 .

Tue, 10/08/2013 - 21:16 | 4036546 jcamargo
jcamargo's picture

Sign of disaster is when all the insiders step out when it is about to explode and the outsiders get promoted and are left clueless in the situation room. At least she must know that. 

Tue, 10/08/2013 - 21:40 | 4036648 venturen
venturen's picture

Heck she can take commands just like Bernanke. Turn print on, Print Moar, Bend over and take it like a FED chairman!

Tue, 10/08/2013 - 20:42 | 4036440 LetThemEatRand
LetThemEatRand's picture

Tired metaphor, but there is a point where the heroin just kills the addict.

Tue, 10/08/2013 - 20:55 | 4036449 fonzannoon
fonzannoon's picture

you ain't seen nothin yet Lter

 

"She's an excellent choice and I believe she'll be confirmed by a wide margin," Sen. Chuck Schumer, D-NY, said after the announcement.

Tue, 10/08/2013 - 20:43 | 4036442 Tinky
Tinky's picture

To paraphrase Lieutenant Colonel William "Bill" Kilgore:

"Do you smell that? Desperation, son. Nothing else in the world smells like that. I love the smell of desperation in the morning."

Wed, 10/09/2013 - 00:31 | 4037044 Beam Me Up Scotty
Beam Me Up Scotty's picture

Or to quote Agent Smith..."That is the sound of...inevitability".

Wed, 10/09/2013 - 06:54 | 4037295 Mentaliusanything
Mentaliusanything's picture

Now is the only time I feel sorry for the former "Headfuck". Ben, I feel so sorry you didn't have the balls to do a "Thelma & Lousie". You didn't see Paul Krugmans point...... MOARR. She has balls the size of saddle bags That Appointment assured the car is going down ......Oh the desperation. $10 Beny bucks the Caddy don't make it

Tue, 10/08/2013 - 20:47 | 4036445 John McCloy
John McCloy's picture

LOL... How could something we all knew last month cause a rally of any sorts.
As a matter of fact how can an announcement that even if Fred Flintstone is nominated for Fed chair.. Have ANY Impact..It would not be news...we are around a long time.. Who ever is coming in will be an endless printer..all we have left as America.

We get it..we all got it 5 years ago...it's an Inkjet with a Bazooka accessory and a 3 page piece of legislation for TARP 2 in their pocket.. Can we suspend mark to market again???
How about double ZIRP..and by the way Ben.. We all know you have been buying Stocks for the last 5 years as well..good luck selling
1888- Fuck-Yo

Tue, 10/08/2013 - 20:42 | 4036446 Portuguese Revo...
Portuguese Revolutionary's picture

Why would someone want Yellen's nomination to be a big thing?? she's NOBODY, a SOCK PUPPET in the hands of the "masters"...

She will do nothing, that being MOAR of the same... So, I ask again: why would someone want to make it a big thing when NOTHING EVER CHANGES??

Tue, 10/08/2013 - 20:42 | 4036447 venturen
venturen's picture

Yellen the whore for moar!

Tue, 10/08/2013 - 20:55 | 4036481 The Shootist
The Shootist's picture

"Whoar for Moar!" ||| 2013 ||| Foar Moar Years! Poar Moar Beers!

Wed, 10/09/2013 - 00:10 | 4036464 prains
prains's picture

When does Yellin put on her wrestling tights and oil up for the big fight?? I need to program my pvr

<------- hurtin from a yellin ass whoopin, she's at least 2 fitty

Wed, 10/09/2013 - 07:05 | 4037297 Mentaliusanything
Mentaliusanything's picture

Oh stop having a cry. 2 Fidty is a good price for a Fucking Hamburger. Soon!. Your having a bad day but it's just a Hamburger. 

Tue, 10/08/2013 - 20:51 | 4036468 khakuda
khakuda's picture

Remember when Erin Callan got the Lehman CFO job? Remember how well it ended? When the men finally turn it over to the women, it's too late to turn around. She is a disaster in her own right, so in this case she will rightly get her share of the blame, but the end result couldnt be clearer.

Tue, 10/08/2013 - 20:54 | 4036472 NoWayJose
NoWayJose's picture

If Yellen gets the nod, Boehner better not fold.

Tue, 10/08/2013 - 21:04 | 4036507 Pure Evil
Pure Evil's picture

I'm pretty sure the deal was struck before the dance even started.

Let's face it, so far everything has just been a ruse at the expense of the rubes.

Welcome to D.C. political theater.

From the sequestration to the govt shutdown the idiocracy are a gullible bunch.

Tue, 10/08/2013 - 20:57 | 4036484 Yen Cross
Yen Cross's picture

   Remember the "Dwarf Zombies" from Phantasm ? Our new Fed. Head bears an uncanny resemblance...no?

Tue, 10/08/2013 - 21:16 | 4036545 DirkDiggler11
DirkDiggler11's picture

Bring out the "Tall Man" to harvest a few Wall Street Bankers ...

Tue, 10/08/2013 - 21:00 | 4036488 khakuda
khakuda's picture

So where does Ben go? Goldman? PIMCO? Blackrock?

He should go back to where he had his first job as a kid...

http://www.thesouthoftheborder.com/

Tue, 10/08/2013 - 20:58 | 4036489 you enjoy myself
you enjoy myself's picture

so, during her confirmation hearing, will any Senator get her on record with an answer to "are you going to monetize the debt"?

Tue, 10/08/2013 - 21:01 | 4036497 The Shootist
The Shootist's picture

Or, "Is the Federal Reserve part of the Federal government?"
"What is money?" Is a Federal Reserve note a dollar?

Tue, 10/08/2013 - 23:53 | 4036973 Clowns on Acid
Clowns on Acid's picture

Is gold a currency ? Is gold a store of value? Why does the Fed hold gold ? 

Tue, 10/08/2013 - 21:00 | 4036493 MFLTucson
MFLTucson's picture

She makes Hillary Clinton look attractive!

Tue, 10/08/2013 - 21:00 | 4036494 MFLTucson
MFLTucson's picture

Very Handsome woman!

Tue, 10/08/2013 - 21:05 | 4036503 29.5 hours
29.5 hours's picture

 

Yellen is the "safe pair of hands" who they can expect to faithfully support the same policies already outlined by predecessors--the same policies which are so destructive to the economic health of the nation. Our Master Class seems to be out of ideas. Can anyone see a way out of this disaster by doing the same thing that got us in?

 

Tue, 10/08/2013 - 21:08 | 4036519 Pure Evil
Pure Evil's picture

Yes, the way out of this disaster is insanity.

Do moar and moar of the same but expect different results.

There, you should feel safe now, Auntie Janet Yellen's got your back.

If you should feel that you need moar help sign up with Obamacare and get a free months supply of Prozac.

Tue, 10/08/2013 - 21:09 | 4036521 seek
seek's picture

"Can anyone see a way out of this disaster by doing the same thing that got us in?"

Yep, I can. Press the accelerator to the floor and hit the brick wall at full speed. Paradise (or a new, no-longer-reserve currency) awaits on the other side. That's the out.

If you want to keep the current system, then no, there's no way out.

Tue, 10/08/2013 - 21:10 | 4036528 g'kar
g&#039;kar's picture

Even the Klingons would reject this person for anything but target practice.

Wed, 10/09/2013 - 01:50 | 4037103 Kirk2NCC1701
Kirk2NCC1701's picture

Actually, G'Kar... Spock tells me she's part of the Cling-On empire.

Tue, 10/08/2013 - 21:10 | 4036533 yogibear
yogibear's picture

As soon as the market is down a bit the Obama administration gets fearful and has to have the administration make an appearance, fed appearance or an announcement

Obama constantly looking at the equity indexes and gears his policy based on it

LOL, Old Yellen will print till hell freezes over. She'll double or triple QE.

Old Yellen is Paul Krugman with tits.

Tue, 10/08/2013 - 21:16 | 4036552 Pure Evil
Pure Evil's picture

Well, since Old Yellen seems moarbidly rabid we'll have to shoot the ole bitch to verify she has any tits.

Tue, 10/08/2013 - 21:15 | 4036542 BullyBearish
BullyBearish's picture

They don't even try to hide it any longer...belief in a covenant no longer valid; what else can they do but maximize the minimal remaining upside while seriously preparing for the downside

Tue, 10/08/2013 - 21:21 | 4036563 jcamargo
jcamargo's picture

They say her appointment was unusual. All I know is that in less than a decade the Fed chairman position will be passed on to whoever draws the shortest stick.

Wed, 10/09/2013 - 07:21 | 4037321 Mentaliusanything
Mentaliusanything's picture

I have meet the first optomist on The Hedge. 10 years...... I have no Ten years and I will see this blow up. Reserve Currency my Ass. 10 years you say. Print you Fuckknukles

Tue, 10/08/2013 - 21:24 | 4036565 Zer0head
Zer0head's picture

a word of caution

only a select few, mostly members of the Ivory Tower crowd have heard Ol' Yellen  speak

 

Disney comes to mind

http://www.youtube.com/watch?v=XBW60d4PUfY&feature=youtu.be&t=3m55s

Tue, 10/08/2013 - 21:25 | 4036578 alfbell
alfbell's picture

 

 

She's probably been put in because QE is probably going to become a standard (regular) monetary policy measure that will remain in effect (fully supported by Congress) until the end of days for the US currency.

I just hope that I can reach all of my financial and other personal targets before this runaway train hits the wall at the end of the line. Gulp!

Tue, 10/08/2013 - 21:28 | 4036596 orangegeek
orangegeek's picture

Pat has aged and changed name.

 

http://www.youtube.com/watch?v=9lit1cSptJw

 

So after SNL, it moved to the Fed.  Cool.

Tue, 10/08/2013 - 21:52 | 4036681 I am a Man I am...
I am a Man I am Forty's picture

Bernanke has landed the helicopter and the B52 bomber is about to take off.  This woman thinks that if you give the rich and powerful MOAR money it will solve the world's problems.  

Tue, 10/08/2013 - 23:23 | 4036907 disabledvet
disabledvet's picture

I still find it funny that the market would soar on Larry Summer NOT getting the nod. I'm not sure i'd want that job actually...

Tue, 10/08/2013 - 23:38 | 4036947 Tim Knight from...
Tim Knight from Slope of Hope's picture

"Yellen" and "limp" are understandably proximal.

Tue, 10/08/2013 - 23:48 | 4036969 ebworthen
ebworthen's picture

She's an ugly Keynesian cunt who will do nothing other than what has been done before.

Go ahead and be dovish and QE you worthless Academic turd birthed of 100 years of bullshit theory.

You will HANG with the rest of the delusional immoral gutless never-worked-a-real-job-in-your-life academic pustules infesting the Nation's Capitol!!!

DIE!!!

Wed, 10/09/2013 - 00:02 | 4036985 W74
Tue, 10/08/2013 - 23:59 | 4036978 screw face
screw face's picture

...MOAR dead cat bounce

Wed, 10/09/2013 - 00:12 | 4036999 Clowns on Acid
Clowns on Acid's picture

Berranke's job was to save (enrich) the banks. Check.

Yellen's job is going to reflate. Get ready for the Fed to buy 50% of outstanding Tbonds. her thinking is - "Who cares if long bond rates go up a bit... we'll double cross that bridge when we get there".

Wed, 10/09/2013 - 00:17 | 4037013 polo007
polo007's picture

http://politicalticker.blogs.cnn.com/2013/10/08/senior-house-gop-source-short-term-debt-ceiling-may-be-way-out/

Washington (CNN) – The door the White House appears to have opened to a short-term debt ceiling increase may be a temporary way out of the standoff, a senior House Republican told CNN.
 
The Republicans may be willing to go for a short-term debt ceiling increase as long as the president agrees to use that time to negotiate, the source told CNN Chief Congressional Correspondent Dana Bash.
 
How long is short term?
 
This GOP source said maybe four to six weeks.
 
Still, it’s unclear whether Republicans could even get that short-term bill through the House without even a tiny concession on spending cuts from Democrats.
 
When President Barack Obama was asked during Tuesday's news conference whether he would be open to a short-term debt ceiling increase, he responded “absolutely.”
 
“I mean, what I've said is that I will talk about anything. What will happen is, we won't agree on everything. I mean, the truth is, is that the parties are pretty divided on a whole bunch of big issues right now," Obama said. "Everybody understands that."
 
The House GOP source said that the president’s call to Republican House Speaker John Boehner on Tuesday was a good first step – and they have to keep talking.
 
CNN’s Chief Political Analyst Gloria Borger reported on Saturday that a senior House Republican said one idea being considered is a six-week extension of the continuing resolution to fund the government, and the debt ceiling, to allow for time for both sides to negotiate.

Wed, 10/09/2013 - 00:42 | 4037048 Beam Me Up Scotty
Beam Me Up Scotty's picture

Can't we just watch the last minute? This is like a pro basketball game. It's not worth watching until the last 60 seconds.

Wed, 10/09/2013 - 04:04 | 4037196 jmcadg
jmcadg's picture

Bored.

Wed, 10/09/2013 - 04:20 | 4037203 Scalaris
Scalaris's picture

Today's narrative has changed, from ''government shutdown doom'', to ''an uncertainty has been removed from the markets by appointing Yellen''.

I must've heard it at least 14 times in Bloomberg alone during the past 5 hours.

Wed, 10/09/2013 - 04:22 | 4037205 BeetleBailey
BeetleBailey's picture

Janet "Printin' Fiat Like a Felon" Yellen. If this insane human being gets control of the Fed, it is Full Speed Ahead - WRECK the United States.

 

FUCK YOU FEDERAL RESERVE - and each and EVERY member of government, along with EVERY wanking, cranking motherfuckin BANKER out there who did this to Americans.

TREASON!

Wed, 10/09/2013 - 04:35 | 4037212 Randoom Thought
Randoom Thought's picture

It looks to me as if there is no point in hoping for higher prices until the fraud in the Whitehouse gets his way. Wall Street is cooperating by lowering prices to make it look like it is putting pressure on the Repukes ... who are probably trading on inside information as we speak. It is all show, folks.

Wed, 10/09/2013 - 05:10 | 4037235 jmcadg
jmcadg's picture

Of course we have über Dove Mr Yellen in place and gold is getting spanked.

I should expect nothing else in the this bizarro shit faced world they call markets.

Wed, 10/09/2013 - 05:52 | 4037253 Sufiy
Sufiy's picture


Jim Puplava: Janet Yellen to the Chair And Michael Woodford Is The New FED's Play Book.


Jim Puplava is talking about "FED's Big Flip Flop" in his big picture this week. He is calling for Janet Yellen to be the next Chairperson of the FED. Her dovish  monetary policy will be highly beneficial for our Gold Bull. Jim sees the transition from unemployment target to the GDP based target for the FED's monetary policy. Quite surprising in its honesty were two remarks from Bernanke: about unexpected tightening effect on the markets after FED's announcement about the tapering of QE - when interest rates have almost doubled from the spring low. And Ben's admission that unemployment rate does not provide the clear employment picture and is affected the employment participation rate.    Michael Woodford has become the new FED's play book after his monetary theories were widely adopted by the central banks around the world after Jackson Hole in August 2012. You can find his Bloomberg profile here.   Now we have more clues to understand why Eric Sprott is selling Art in order to buy more shares of Gold and Silver mining companies. http://sufiy.blogspot.co.uk/2013/09/jim-puplava-janet-yellen-to-chair-and.html#

Wed, 10/09/2013 - 06:47 | 4037289 Youri Carma
Youri Carma's picture

Yellen to Be Named by Obama as First Female Fed Chairman - A Universal Truth!?  https://www.youtube.com/watch?v=7DSCFkw3xms

Wed, 10/09/2013 - 06:51 | 4037293 Canucklehead
Canucklehead's picture

Yellen is to the Central Banks' team what Alexandre Daigle meant to the NHL:
http://en.wikipedia.org/wiki/Alexandre_Daigle

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