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Another Jobs Report, Another Leak? Gold Plunges & Treasuries Halted

Tyler Durden's picture




 

Milliseconds after the release of the jobs report this morning, the 'supposedly' most liquid bond market in the world - US Treasury futures - were halted for 5 seconds. As Nanex notes, this has happened before... What is also evident, as seen below, is Gold's premature plunge (who knew what when?) So while yesterday was the turn of the OTC equity market, today we see fixed income markets 'break'...

 

Via Nanex,

1. December 2013 5 Year T-Notes (ZF) Futures depth of book (how to read).
This market halted trading for 5 seconds.



2. December 2013 5 Year T-Notes (ZF) Futures Tick Chart.
Right before the 5 second halt.



3. December 2013 5 Year T-Notes (ZF) Futures Tick Chart.
Right after the 5 second halt.




 

6. December 2013 Gold (GC) Futures. - Look at the move right before the official announcement!!!


 

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Fri, 11/08/2013 - 10:18 | 4134980 Max Damage
Max Damage's picture

Bunch of fuckin crooks using taxpayers cash

Fri, 11/08/2013 - 10:25 | 4135021 SamAdams
SamAdams's picture

a Serco relay must have had a ground fault inter

Fri, 11/08/2013 - 10:29 | 4135046 Max Hunter
Max Hunter's picture

Silver moved a lot 30 seconds before the release. The EUR/USD did as well.

Fri, 11/08/2013 - 10:41 | 4135094 Manthong
Manthong's picture

All in with WTF longs now.

Fri, 11/08/2013 - 11:03 | 4135204 1000 splendid suns
1000 splendid suns's picture

Arcade game Defender?

Fri, 11/08/2013 - 11:17 | 4135246 Manthong
Manthong's picture

I am climbing up to the attic today to retrieve a Pachinko machine I bought over 30 years ago in Japan..

It's time to rebuild that thing and ponder the certitude that our overlords have engineered into the system.

I have been working on an algo that will predict the exact path of every ball and in which order the bulbs will illuminate.

It a lot easier to do nowadays given the economy of A/D converters and cost per byte/response of memory.

Fri, 11/08/2013 - 12:41 | 4135568 tsx500
tsx500's picture

apparently t-bonds experienced a brief 'drunken stupor' ? ;>)

Fri, 11/08/2013 - 12:45 | 4135578 tsx500
tsx500's picture

...meanwhile, BTC > 350 . . . .

Fri, 11/08/2013 - 10:33 | 4135058 CPL
CPL's picture

When the amount of printing that is going on has happened, taxpayers aren't even part of that anymore.  All of it falls on the Central Banks' shoulders and their crappy 'retail' bank chains that pretend to offer banking services to the public worldwide.

Fri, 11/08/2013 - 10:40 | 4135087 XXL66
XXL66's picture

nobody knows why this happens, it's the wall street code:

 

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

 

 

Fri, 11/08/2013 - 10:51 | 4135150 Sudden Debt
Sudden Debt's picture

DON'T BE SO PARANOID!!!

I COULD BE A TRADER....

A SKILLED TRADER WHO CAN CLICK HIS MOUSE REALLY REALLY FAST WHEN HE PUT'S IN ORDERS!!

Fri, 11/08/2013 - 11:54 | 4135382 floyd084
floyd084's picture

Well the civilians are a bunch of apathetic ingoramuses, maybe they should do something about it...

Fri, 11/08/2013 - 10:19 | 4134986 The Axe
The Axe's picture

Please   these broken   fucking markets....joke

Fri, 11/08/2013 - 10:35 | 4135071 101 years and c...
101 years and counting's picture

you guys keep saying markets.  always good for a chuckle.  i just refer to them as PTs (policy tools).

Fri, 11/08/2013 - 10:19 | 4134989 holgerdanske
holgerdanske's picture

You better bite the coin to see if it is fake.

Provided your teeth are not even fakier! ;-)

Fri, 11/08/2013 - 10:25 | 4134990 LawsofPhysics
LawsofPhysics's picture

Go ahead, break the sovereign debt "market".  I double dog dare you, you stupid fucking paper-pushing banker fucks!

 

In a "debt is money" world, sovereign debt must expand.  Looks like the sheeple are starting to believe their "lying eyes".  I know several people dumping all kinds of bonds right now (corporate and sovereign).  Looking more and more like the world doesn't want to play the game monopoly anymore with the Fed as banker.   many people taking their capital and going home...

Tick tock motherfuckers.

Fri, 11/08/2013 - 10:56 | 4135171 game theory
game theory's picture

What are those people that are dumping their bonds buying? Metals? Bitcoin? Nothing (cash)? All the people with all the money have to go somewhere and have to buy something. The wankers in DC stealing all our money are having a mini-housing bubble of their own. The Silicon Valley stinkers have their own jets and million dollar houses to sponge up all their IPO investors cash. Eventually it all comes out somewhere. Tick tock indeed.

Fri, 11/08/2013 - 11:22 | 4135274 LawsofPhysics
LawsofPhysics's picture

Hard assets of all kinds and cash.  If you think that home owners in California were locked into their properties in the 90's, just wait.  Yes, when this dam breaks and that cash makes it to the sheeple all hell will break loose.  But, Ben's a "student of the depression era" so I am sure he has a plan (Weinmar/Zimbabwe here we come...).

Fri, 11/08/2013 - 10:21 | 4134992 Thomas
Thomas's picture

Gold is nuts now. I miss the days when the algos did not control this market, it just meandered its way from the 200s toward 1000.

Fri, 11/08/2013 - 10:28 | 4135037 Xibalba
Xibalba's picture

Just be sure to check your soul at the door 

Fri, 11/08/2013 - 11:34 | 4135324 dark pools of soros
dark pools of soros's picture

You mean like bitcoin is currently doing?

Also I thought gold is for the great reset so who cares what $$ price it is? It is cheap 'at any fiat price'

Or are you stackers looking to get out of your bag holder $1500's positions??

Fri, 11/08/2013 - 13:42 | 4135783 LawsofPhysics
LawsofPhysics's picture

Unless you can hold those "bits" in your hands, bitcoin will simply be another inflationary pressure cooker.

Fri, 11/08/2013 - 10:23 | 4135004 Cognitive Dissonance
Cognitive Dissonance's picture

Milliseconds. Sort of like splitting hairs.

<Now who......or what......could have done that?>

Fri, 11/08/2013 - 10:24 | 4135014 EscapeKey
EscapeKey's picture

Well, we can safely rule out the big banks.

They would never break any laws.

Fri, 11/08/2013 - 10:27 | 4135029 spastic_colon
spastic_colon's picture

yeah...its not like they just now decided to sell eur/usd and gbp/usd and buy usd/jpy to start a fire under equity futures or anything /s

Fri, 11/08/2013 - 10:23 | 4135010 ziggy59
ziggy59's picture

I feel like im watching Groundhogs Day reruns...

The lying POS bankster have the remote

Fri, 11/08/2013 - 10:58 | 4135185 Non Passaran
Non Passaran's picture

I feel like smashing that alarm clock 

Fri, 11/08/2013 - 10:23 | 4135013 SMG
SMG's picture

Aparently the market is rigged and everyone is cheating, especially the HFT's.  Many in the HFT business know this, but don't talk about it.

Except for this guy, interesting to watch:

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

Fri, 11/08/2013 - 12:57 | 4135563 fockewulf190
fockewulf190's picture

That video was excellent!  Now you know why the TBTF banks never have a losing trading day...the markets are so rigged, even light years beyond what  LIBOR ever was.   Prosecuting the scandal could literally evaporate all remaining confidence the public has lef tin the markets. No wonder the SEC has done nothing. The amount of theft going on is legendary!

Here is the WSJ story related to the above: http://online.wsj.com/news/articles/SB1000087239639044398920457759924369...

Fri, 11/08/2013 - 10:25 | 4135020 Dr. Engali
Dr. Engali's picture

Free and efficient market...LOL

Fri, 11/08/2013 - 10:26 | 4135022 fonzannoon
fonzannoon's picture

The system is truly starting to break. Things will get more blatant and chaotic by the day. There is not a lot of time left to open a scottrade account and buy twitter right here. Also groupon. Definitely tesla on the dip.

Hurry.

 

Fri, 11/08/2013 - 10:27 | 4135028 TahoeBilly2012
TahoeBilly2012's picture

Gold's final washout, double bottom?

Fri, 11/08/2013 - 10:30 | 4135049 fonzannoon
fonzannoon's picture

Gold will just bang around at levels that are very close to the cost of production. The miners will barely be able to stay in business but not make a profit. 

This is the part of the nightmare where we all start realizing we may not wake up.

Fri, 11/08/2013 - 10:31 | 4135053 LawsofPhysics
LawsofPhysics's picture

Yes, FAZ me fonz...

Fri, 11/08/2013 - 11:54 | 4135384 seek
seek's picture

I agree, Fonz. It's depressing, but gold is controlled until it isn't, and they're keeping it low so they can buy back the stuff they sold that didn't belong to them (e.g. Germany, et al.) Given their situation and incentives, I see no reason why they'd let it climb, ever.

I've resigned myself that my AU losses (due to the boating accident) are in a dead, no-growth realm until the very end stages of the collapse, which is likely at least a couple years away if not five or more. My attention is now focused on preparation and tangible consumables, and a little bit on bitcoin.

It's time for a slow, managed exit from participation in any market that's corrupted, which is virtually all of them.

Fri, 11/08/2013 - 12:51 | 4135605 safe as milk
safe as milk's picture

it's impossible to guess the timing of this thing but the fact that they are monkey hammering it more regularly and blatantly leads me to believe that the endgame for paper gold is sooner rather than later.

Thu, 11/14/2013 - 21:19 | 4156268 MeelionDollerBogus
MeelionDollerBogus's picture

Why's it impossible? Look at the 2006 and 2008 drops vs now.
Compress  the time-scale using the log(x) function just like you would with prices.
Now does it look "unpredictable" or an exact repeat?

Thu, 11/14/2013 - 21:14 | 4156250 MeelionDollerBogus
MeelionDollerBogus's picture

What's depressing? My ONLY hope to acquire enough gold before it hits 5k to 50k/oz is for manipulation to keep the prices down.
A nice pop in silver will give me, via agq calls, a nice pop in fiat paper, sure, which I'll immediately pile into food, tools, batteries, silver, gold (bullion, both), etc.

Fri, 11/08/2013 - 12:21 | 4135492 greatbeard
greatbeard's picture

>> The miners will barely be able to stay in business

You don't think management might have to cut back on their obscene bonuses now, do you?

Fri, 11/08/2013 - 11:08 | 4135225 JenkinsLane
JenkinsLane's picture

When Taper On is finally announced it wouldn't surprise me if gold got spanked down to $1000.

Fri, 11/08/2013 - 11:24 | 4135292 LawsofPhysics
LawsofPhysics's picture

Good luck with that (or taking delivery at that price), for in a "debt is money" system, sovereign debt must expand or the system dies.  Tell me, what will yields on sovereign debt be at that point?

Fri, 11/08/2013 - 13:55 | 4135816 JenkinsLane
JenkinsLane's picture

It depends upon how much gold you would be looking to buy. If gold were to drop to around this price, which would be more of a whooping in the

woodshed than plain ole'e spankage, I don't think it would be a problem to pick up £10k - £100k around this price. Frankly, if a person was interested

in picking up the higher of these two figures I don't imagine they'd be bothered whether or not they paid £50 over spot, or the former figure for

that matter. With respect to this price, I'm thinking along the lines of a liquidity event whereby stock markets drop around 20%; I'd guess that

would do it.

 

I don't get your point with respect to the expansion of sovereign debt. You seem to be conflating sovereign debt with fractional reserve banking.

In terms of the former, the expansion of sovereign debt will partly be the cause of the current system dying - loss of investor confidence, spiking

yeilds, debt servicing costs become unpayable whilst maintaining other government expenduitures, currency collapse, etc., etc., etc.

 

With respect to a short term liquidity event, all other things being equal, US sovereign yields will drop as prices are bid up and the USD will spike

as investors seek "safety".

 

Fri, 11/08/2013 - 14:24 | 4135956 seek
seek's picture

Maybe it's because I'm disillusioned, but I would take the "under" on that bet.

There won't be any delivery behind it, and the stores won't sell phys at that price, but I wouldn't be surprised at all by sub-1K. Nor will I be surprised by the plethora of gold-negative news stories that pop up, "reaffirming" that gold is an ancient relic of no value and urging people to get out at $900 before it collapses back to $270 or whatever nonsense prices they come up with.

TPTB's hate of gold is far stronger than I ever imagined it could be, especially for such a tiny market.

Fri, 11/08/2013 - 10:39 | 4135033 Kaiser Sousa
Kaiser Sousa's picture

Kitco charts sshow the bullshit in all its glory...well off to my dealer when he opens out here on the WEST SIIIIIIIIIIIIIIIIIIDE!!!!!!!

FUCK ALL COCKSUKING MOTHER FUCKING SOCIOPATH MONEYCHANGERS.....

http://www.kitco.com/charts/livesilver.html

Fri, 11/08/2013 - 10:33 | 4135057 Max Damage
Max Damage's picture

Futures bouncing as usual, gold still getting slammed. Crooked fuckers

Fri, 11/08/2013 - 10:34 | 4135068 Kaiser Sousa
Kaiser Sousa's picture

"An Australian bitcoin bank holding over US$1 million of the crypto-currency has been hacked, leaving an unknown number of users with nothing – one of the largest thefts in the currency’s four-year history. The incident took place on October 26, when the bank was hacked, with 4,100 bitcoins valued at $1.3 million stolen, the service’s operator only known as ‘Tradefortress’ said. He refused to give his name to the press, also stressing he was not much older than 18."

http://rt.com/news/bitcoin-hacking-stolen-million-417/

Fri, 11/08/2013 - 12:53 | 4135611 safe as milk
safe as milk's picture

i'm still trying to understand bitcoin. what is the purpose of a bitcoin bank? i thought the whole idea is that you hold your own coins.

Thu, 11/14/2013 - 21:10 | 4156232 MeelionDollerBogus
MeelionDollerBogus's picture

The real purpose of bitcoin is rapid trading for fiat to ponzi-scam fools into losing fiat papers to others via the btc medium.
btc has no purpose as a currency which is why no one actually cares anymore to use it as a currency.
The only reason to have a btc bank is so that people can rapidly switch between that & dollars (aud, usd, etc) for the purpose of rapid trading and NOT waiting for wire transfers, etc., to clear every single time.

Fri, 11/08/2013 - 10:35 | 4135072 NDXTrader
NDXTrader's picture

Why worry about milliseconds? Who knew yesterday?

Fri, 11/08/2013 - 10:39 | 4135084 Yancey Ward
Yancey Ward's picture

I think the data we are being fed is falling apart as a useful tool.  I don't think it is really deliberate, but the economy itself has shifted in such a way that the adjustments being applied by the statisticians no longer really work.  It may be years before the BLS and the Fed fully catch up to reality.

Fri, 11/08/2013 - 10:40 | 4135086 XAU XAG
XAU XAG's picture

Markets = Rigged

 

Your life = Rigged

 

Need to de rig your life.

 

 

Fri, 11/08/2013 - 10:47 | 4135118 BadDog
BadDog's picture

Hopefully with this plunge, China will go ahead and clean every last oz. out of GLD.

Fri, 11/08/2013 - 10:48 | 4135120 LeisureSmith
LeisureSmith's picture

Gold and Silver can't get plunge protection due to a pre-existing condition.

Fri, 11/08/2013 - 10:56 | 4135170 Non Passaran
Non Passaran's picture

Period.

Fri, 11/08/2013 - 10:51 | 4135145 wstrub
wstrub's picture

Why does everyone on the net speak of Wed., Thurs., and Fri.  (WTF) in such shocking tones? 

Fri, 11/08/2013 - 11:10 | 4135236 lunaticfringe
lunaticfringe's picture

Heh. Soon the days of Freegold will be here. When gold cmpletely unhinges from its paper chains.

Fri, 11/08/2013 - 12:23 | 4135496 greatbeard
greatbeard's picture

>> Soon the days of Freegold will be here.

Yeah, and voting will change things.

Fri, 11/08/2013 - 11:22 | 4135289 Arbysauce
Arbysauce's picture

Ben! I would spend so much more if you bid up gold. All you have to do is push a button. Push the button Ben.

Fri, 11/08/2013 - 11:26 | 4135297 JenkinsLane
JenkinsLane's picture

"Sell tonnage Mortimer, tonnage!"

Fri, 11/08/2013 - 11:27 | 4135303 Seize Mars
Seize Mars's picture

It's amazing how bad things have gotten.

Fri, 11/08/2013 - 12:08 | 4135439 Conax
Conax's picture

It's always darkest before the dawn of the dead.

Fri, 11/08/2013 - 14:46 | 4136093 TaperProof
TaperProof's picture

Criminals, bitcoin is the new gold aparently.  ahaha

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