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Stocks Soar Back To Highs On Reid's Optimism But T-Bills (Once Again) Ain't Buying It One Bit
At 53.5bps, the 10/31/13 T-Bills are now at Debt-Ceiling-Debacle 2013 highs having pushed higher in yield once again this evening. This may come as a surprise to those staring incredulously at the 14 point rampapalooza in S&P 500 futures on the back of Harry Reid's "optimism". Of course, what really matters is what the JPY crosses are doing since that is the key driver of risk-on at the margin (and is for all intents and purpose inseparable from equity markets for the last 4 days). The initial momentum ignition, however, is beginning to fade as equity investors the world over glimpse over their shoulders at the ghost of debt-ceiling future that T-Bills are reflecting...
Which is the greater fool - the equity bull buying Reid's optimism or the less sanguine bond bears covering any and every short-dated T-Bill (increasingly seen as NOT fungible cash) as GC repo markets implode?
no matter - spot the difference - one of these is the S&P 500 and the other 2 are JPY crosses...
As we were always told whenever we questioned the reality of Santa or the tooth fairy - you have to believe to receive... it would appear the herd is "believing" for now...
Charts: Bloomberg
Bonus charts: Indicative of the "broken" repo markets, fails-to-deliver for Treasuries and corporate securities are surging once again...
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Betting both directions....
No, they are betting the same direction. Look again. The day this gets real is the day the bond bears short this shit to oblivion, not cover.
circa 1979
“But Reid has denied any connection to organized crime”
He can’t say that now.. his syndicate has 99 other members and a veep to provide comic relief.
Where did all that Lake Meade water go you might ask?
http://en.wikipedia.org/wiki/Nancy_Pelosi
Get it?
Over.
and somehow you will lose three ways. Been there. Done that.
Nope. Betting on free drugs and pizza for all. It's called Obamacaresaboutjunkiescare.
HOW many head fakes can the market take?
Are you suggesting that Pelosi wears a strap on?!*
*Reid swears it's real.
So big penis!
That's a big caucus you have, sir.
until the losers run out of money ... so long as they continue to bet, casino owners are more than happy to take their bets ...
Not even a lil' bit?
"Which is the greater fool - the equity bull buying Reid's optimism or the less sanguine bond bears covering any and everything short-dated as GC repo markets implode?"
I am 4 beers in, but am I to read this as the less sanguine bond bears are covering any shorts? So as we spiral into this default bond bears are covering....hmmm...yeah sure...this is not theater.....it's the real deal alright.
You need to lay off the beer. Switch the the hard stuff, like I did a few years back.
Kids went to bed an hour ago. Everything's cool here.
Are you seeing any panic? I'm not. Hundred points up, hundred points down. Only the short-dated T-bills are getting spanked based on an assumption of delayed payment.
If ZH has added anything to the greater financial discourse, it's that bankers own everything. We hate them, but at least they've made politicians and their childish games irrelevant.
founders porter. Good stuff. Give it a shot. The hard stuff makes me a bad drunk.
Yes there is not only no panic, but everyone wants to make sure they are btfd.
I would but it's made in Michigan, which instantly makes we wonder where they get the water from (Lake Michigan??). It's also about as black and thick as midnight. I suspect it is roughly 9,000,000 calories per bottle. I would never be able to keep my girlish figure drinking enough of that to enjoy myself.
The key with hard liquor is realizing that it takes a while to reach full effect. If you're still sipping when you realize you're feeling drunk, you've gone too far.
never had a bad beer from Founders.........in fact their Breakfast Stout is fantastic and @ 8.3% ABV is plenty strong......
I highly recommend Old Rasputin Russian Imperial Stout (North Coast Brewery).....Heaven in a bottle and @ 10% ABV 2 beers will/can do the job....
~~
>> The hard stuff makes me a bad drunk.
Funny how booze affects different people differently. My father was a mean, miserable drunk. Some guys are violent drunks. I was always a happy, funny, flirtatious drunk, as opposed to my normal introverted cynic self. My pancreas made me an ultimatum, I had to give up one or the other, booze or my pancreas. Fortunately it was an easy decision for me. My father was not so lucky and let the booze kill him.
I am a mean miserable sober person.
Drugs and alcohol bring out the true individual in a person. So when straight, can you see him holding back his anger when really he wants the steam to begin pouring out of his ears so he can punish you and force you to do things his way. I can.
Fonz, this is not the "real deal" - The end game is already determined (ie a settlment) - see excellent game theory analysis of last debt "crisis":
http://www.youtube.com/watch?v=DlfOgqUYOlA
Someone needs to hack the news sites and plant an article about Harry Reid needing to see an optimismtrist and see if the algos ramp the stock market on the news since that is probably the key word they are using to autofellate the market upwards.
Come on Anonymous stop with your usual blathering and see if you can trick the algos using your mad l33t skillz.
well, at least jpm sold out just in the nick of time.
:)
No matter how much i try, i can not be optimistic over a picture of a guy giving the fuck finger
Since this scumbag doesn't get enough ire around here it is time beat on old Chucky Cheese Wall Street Puppet Schumer.
http://www.secretsofthefed.com/senator-schumer-stands-corporate-masters-...
Being a politician in the state of New York means that besides holding an office that represents millions of citizens, it also means that you represent the corporations that make up the greatest financial center in the world. However for Democratic Senator Chuck Schumer, his primary benefactors are more often than not, the corporate masters who ensure his elections each year, as seen by his statement today that he is more worried about the stock markets than for the plight of his constituents.
...
Check out the list of top donors for Chucky in the article. Follow the fucking money, reads like who's who of Wall Street. The article is even nice enough to give ZH some love in using quotes from articles posted here.
...
It is disturbing to hear a government representative worry more about the consequences of the stock market than he does about the tens of millions of Americans who were without access to food and other necessities when the EBT system, run by his campaign benefactor JP Morgan Chase, went down on Saturday.
...
He has nothing to worry about the markets are fully controlled by the algos. There will be no drop unless the algos are told to chase the waterfall.
Once they start chasing, look out below. When Mark Haines said 'generational low', those were not his words. Get it?
Over.
Wow. Dewey Cheatum Howe. A name I haven't heard from in years. Glad you're well & still fighting this battle. Take care
from your old MW buddy. :)
DC is more interested in what happens in the stock market instead of actually trying to operate a Guvment... we really are doomed.
and the reality is, when the house caves, there is no turning back from the road to destruction.
They stab it with their steely knives,
But they just can't kill the beast
As an economic system, fascism is socialism with a capitalist veneer. The word derives from fasces, the Roman symbol of collectivism
and power: a tied bundle of rods with a protruding ax. In its day (the 1920s and 1930s), fascism was seen as the happy medium between
boom-and-bust-prone liberal capitalism, with its alleged class conflict, wasteful competition, and profit-oriented egoism, and
revolutionary Marxism, with its violent and socially divisive persecution of the bourgeoisie.
The most common version of fascism today is progressivism.
Fascism substituted the particularity of nationalism and racialism—“blood and soil”—for the internationalism of both classical
liberalism and Marxism.
Definition of 'Public-Private Partnerships
A business relationship between a private-sector company and a government agency for the purpose of completing a project that will
serve the public. Public-private partnerships can be used to finance, build and operate projects such as public transportation
networks, parks and convention centers. Financing a project through a public-private partnership can allow a project to be completed
sooner or make it a possibility in the first place.
Investopedia Says
Investopedia explains 'Public-Private Partnerships
Public-private partnerships often use private-sector investments to finance a public project when sufficient public funding is not
available. For example, a city government might be heavily indebted, but a private enterprise might be interested in funding the
project's construction in exchange for receiving the operating profits once the project is complete.
In simple terms, fascism in the United States since 1913 has been the dominant form of governance. That is has become so arrogant in
the Obama Administration, that if finally alarms many voters these days.
The acceleration of understanding by sidewalk Americans began with the advent of the second term of the Obama Administration. But the
fascists began their journey to regain control of the United States the very day that the people of the United States enjoyed their
first day of liberty.
The very first successful attack on the constitution began with the 11th amendment to the constitution. It was and is the first of
the Fascists Bill of overriding rights. Before the 11th amendment to the constitution, the people could sue the fascists all the way
to the poor house. Fascists worship money. It is their primary god.
What is known by very few Americans is that there are 147 Trillionaires in the world today, as measured by control of the world's
money supply. They are in control of every one of the world's central banks except a handful. That includes the Federal Reserve Bank
in the United States.
The sidewalk definition of fascism in America is; "collusion between big government and big business." many people use the street
term which is crony capitalism." The transverse application is the creation of unconstitutional statutes, regulations and ordinance
that are against the interests of the people, small business and entrepreneurs.
Sidenote: Crony capitalism and entrepreneurial capitalism are diametrically oppose to each other.
When you have turned on your lights of understanding you can see that this senator is clearly a fascist servant, not a public
servant.
Many senators, of both parties are by their own actions, self manifested as fascist servants, not public servants.
How did this happen? When the fascists deceived the American people and passed the 17th amendment to the constitution, the fascists
took over the senate of the United States but maintained the facade of government of, by and for the people. It is just a facade. The
fascists have bought and paid for 97%* of the senate. Most of the time, they own both the Republican and the Democratic candidates
for the senate. Either way, they win.
The House of Representatives is known as the People's House and direct representatives of the people, which is why it is apportioned
by population. Their duty is to enforce the 9th amendment. (There are a some fascists in the House but they are a minority)
The senate before the 17th amendment was know as the State's House or the representatives of the state legislatures. Their duty was
to enforce the 10th amendment. The large majority of senators are fascists. It is likey 97 to 3 in favor of the fascists.
After the passage of the 17th amendment, the state legislatures had no way to defend themselves by enforcing in the 10th amendment in
the senate before legislation was written. Now, the United States Senate is the House of Fascists. There are 97* fascist servants vs
3 public servants in the senate. The 3 public servants are Rand Paul, Mike Lee and Ted Cruz. They are hated by the fascists as much
as they hate Sarah Palin.
Now you should be able to understand things much better
- Ron Bartels
As I've said before the Federal Reserve is a textbook example of a Fascist public/private monopoly while Social Security is a classic socialist style government program. So where have we progressed to today we got the next generation hybrid being unveiled by the Congress aka Obamacare which is mix of both Fascism and Socialism.
Next time tweet it out bro.
Over.
I was trying to reformat it but you replied before I could. Guy sees it pretty much the way I see it but explains it much better than I can.
It was good. Thanks for posting.
See: Inverted Totalitarianism
Sorry DCH. Sacrilege should give us a 'Hold' button that holds the comment if user wants but whatever, I know he's out in LA auditioning for Quentin Tarantino new blockbuster about a Blog Technician who robbed all the gold out of JPM's secret gold vault.
Over.
Public Private Partnership and UN Agenda 21
http://www.youtube.com/watch?v=hCDGGSPZl8E
The Reid shit-head should not be in office. He stole the election from the Tea Party candidate through obvious and outright vote fraud. Funny how no one seems to care.
I believe! I believe! Amen!
Over.
"You mean to tell me that the success of the economic program and my re-election hinges on the Federal Reserve and a bunch of fucking bond traders?'' Clinton raged at aides,
So the market keeps going up, but the growth that is supposed to support it isn't there and never will be.
Oh yeah, I forgot. The growth that supports the market is a giant tumor that grows $85 billion a month.
Live each day as if it were your last, for soon it will be.
BOOM: Ironclad Proof That "This shutdown was orchestrated and planned [by] the White House"
"In less than 8 hours of the shutdown, miraculously, professionally printed 3-by-4 foot signs appeared all over the country in the tens of thousands saying this [park, facility, etc. with custom logos] closed due to government shutdown"
http://directorblue.blogspot.com/2013/10/boom-this-shutdown-was-orchestr...
Maybe a good target for a FOIA request to find out when those signs were ordered, how they were paid for, and how much they cost since this whole thing is purportedly about saving money....? Would love to hear the spin on why that information is suddenly classified for 'national security' purposes.
Paging an actual news agency, 4th estate please wake the fuck up!
Correct me if i'm wrong my fellow Koolaid drinkers that evey Senator in the union might benefit from a Federal default?
http://www.nbcnews.com/travel/grand-canyon-opens-state-fed-natl-parks-deal-8C11388645
The most recent international was a success?
What, exactly, is closed at this point? I know nearly all Federal Department of Education workers are on paid vacation, but who else?
ZH told us about 90% of IRS agents on 10/1.
http://www.zerohedge.com/news/2013-10-01/91-irs-has-been-furloughed-here...
NPR confirmed still 90% as of today, although their guest from said agency was keen to remind everyone that they excel at reviewing historical data and will catch up eventually. Now if only the CFTC had such verve and gusto.
Reid is a lying Jackwagon.
The short end of the market is now inverted out to two years!
Who would have thought a piece of paper earning zero interest was without Risk? anyone?
It worked for 40 years...what (or Who's) Next ? {yes, thinking about the Album Cover after Kubrick said no to Tommy}
Downhill from here ?
All roads lead to Rome ?
HFT machines are somewhat gullible, no?
I've heard a rumor that some of those federal politicians own stocks...