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Following last week's exuberance, this week has seen a notable change of trend... one asset class looks different to the others...
Charts: Bloomberg
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All hail the mighty Bernanke at work.
... M-U-S-T T-A-P-E-R ...
Ugh!
I tapered this morning...the Bernanke Boa...whew!
I'll take Magic Printing Presses for $1000 Alec
We need to be very thankful the fools around the world continue to accept FRN's. Keep stacking and live.
Amen Brother, Amen.
Would never have guessed this could go on for as long as it has.
Have not wasted a moment, and am greatful for the bonus time which has been purchased.
Good thing it was tapered, or your asshole might have slammed shut.
The only gold position that most people should have is a physical gold position, hedged by an equal short in paper gold.
one of the guys I work with had coffee with a Fed employee yesterday. Fed fuckhead was a low level younger guy. He said that there is no taper and the rumors he hears is that they are a good 6 months away. Which means NEVER!
While I agree with the comment, I just have to say that I doubt some low level young Fed employee has a clue what decisions have been made at the highest levels of the FED. That information is reserved for the Chairman and the bankers who pay to have that information before the rest of the world so that they can trade on it.
I agree that there is no agency wide email going out detailing the plan by the higher ups. I liken it to working for a company and hearing there will be layoffs.... and then boom, some poor bastard who just bought a $500k house gets his $150K salary reduced to rubble and to add injury to insult, his wife starts bangin another dude!
10 year almost back to 3%. There will be no taper.
Because the market isn't forward looking?
what is this "market" to which you refer?
I think it is an imaginary place where cronyinsm, corruption and rampant criminality is nonexistent...aka Fantasyland.
Wait for the 10 Year to approach 4%. That's when the fun will begin.
THEY cannot allow the 10y to approach 4%. If THEY can manipulate the stock market so well (witness the last 4+ years), then THEY can suppress the 10y, etc., even if that means that the stock market must be sacrificed.
They CAN'T you mook!! What is with you people!!?? Sheeesh.
As in they can't 'ever'? I tend to agree, but I'm just clarifying.
I think this thing is on autopilot, and we're not going to make it over the mountain, but for now it seems like a nice, scenic ride.
...
Watch them anounce "no taper" and after a short drop in yields they turn around and keep rising. (I predict) Tick tock. Time is almost up for the FED
I hope you are correct!
Get ready for battle. The Fed will lose that battle should it break above 3.05
Pretty much identical to the last headfake taper threat.
Taper = house price crash, so.
No Taper.
Is this a trick question?
makes sense.
Wake me when the "odd one out" is back under $500 an ounce.
Until then, < meh >, same as it ever was...
what does the FOX say?
A ring ding ding a dingy ding ding. Same as always.
also: (it's very important)
WHAT THE FOX SAY?
Wa-pa-pa-pa-pa-pa-pow!
Wa-pa-pa-pa-pa-pa-pow!
Wa-pa-pa-pa-pa-pa-pow!
WHAT THE FOX SAY?
Joff-tchoff-tchoff-tchoffo-tchoffo-tchoff!
Joff-tchoff-tchoff-tchoffo-tchoffo-tchoff!
Joff-tchoff-tchoff-tchoffo-tchoffo-tchoff!
Jacha-chacha-chacha-chow!
Jacha-chacha-chacha-chow!
Jacha-chacha-chacha-chow!
WHAT THE FOX SAY?
Fraka-kaka-kaka-kaka-kow!
Fraka-kaka-kaka-kaka-kow!
Fraka-kaka-kaka-kaka-kow!
WHAT THE FOX SAY?
A-hee-ahee ha-hee!
A-hee-ahee ha-hee!
A-hee-ahee ha-hee!
the opposite of what MSNBC says.
Chairsatan isn't going to taper and once again the muppets are going to get an anal blowtorching! BTFD Biatchez
Agreed. Looking at AUD on the upside and MXN on the downside. AUD got butfucked today...making it look like a strong candidate for next week.
I agree. Stevens(RBA) jawboning the aud will only work a few times (ala) Japan and he'll get royally stuffed. ALL THE DOUCHWAD SPECS ARE SHORT AUD NOW, so it's ripe for a squeeze to the upside. The aud employment #'s were also good last night.
Did you notice the usd is up today on the bad jobs #s? So is usd/jpy yet no equity market ignition. Bernanke is just cooling things off a bit before he throws more rocket fuel on the fire next week.
Indeed, I could not believe it when I saw AUD/NZD in the 1.08 range....that is nuts....need to see if the market agrees. USD/JPY holding 103...like you said...a dovish Fed next week will send the Yen on its next move toward toilet paper.
Something bad is going to happen next year. These moves are way outside of reality. Kyle Bass might get his wish with Japan in 14'. The BoJ is going to end up losing control of the yen.
The market is sending the Bernank a signal.....don't even think about tapering or the ten year gets it.
I bet he gets into a petulant snit when he can't magically hold up Treasury & Equity paper at the same time...
Yeah, but Big Ben is on his way out the door. He's pulling a Greenspan.
What bubble? No bubbles here.
crude, but effective
Risk assets will sell off initially but this will be a buying opportunity as investors realize that the sustainable recovery priced in since 2009 has finally come to pass...
KIDDING!
Stocks should be set to resume their uptrend now, no doubt driven by the need to buy Facebook now that it's been added to the S&P. It's only trading at 119x earnings, while it seems fair value for its peers (LNKD) is 780x. Now granted it is trading almost 10x book value, but if you look at that 7x upside to get to a reasonable PE of 720, we should see FB trading at 350! That alone should be enough to carry the S&P to new highs! What a wonderful new paradigm we're in, finally things are different.
Re; It's only trading at 119x earnings, while it seems fair value for its peers (LNKD) is 780x.
Al, Even though I know your words to be true, the mind reels at the levels the mark to fantasy has reached.
119 years to get your money back. I'm looking through the Thesurus but cant find a word that covers "Insane bubbles". It refers me only to volcano's and protective bubble wrap
It's a....Brave...New...World!
Sorry
Looks about time to BTFD to me. Go ahead, down-vote me. I got broad shoulders. I can take it.
I'm not going to down vote you, but I think S&P 1750 is the number.
Which bond fund managers will have their collective faces ripped off?
All of them.
Bingo!
Those who have the Richard Dennis Trend indicator, 20 - 55 daily closing price, got a short term 20 day Trend Short confirmation.
Not enough people fired last week. The "markets" initially cheered the 70K increase in the number of people fired, and then realized we need to start firing 450-500K people per week to get stocks higher.
Crash mutha falker
My guess is the Stalinsky and Poorskavich?
The NY Fed just concluded another daily reverse repo that they recently implemented. $28 billion in treasury collateral to 38 bidders who parked their cash with the Fed and no have fresh treasury collateral that can be rehypothecated 2,3,4,5 or more times in the 3 trillion+ tri-party repo market gamble fest.
Yesterday, it was over $35 billion.
Experimental tool my a$$ - this is another backdoor manipulation scheme to keep the collateral charade alive.
Its over, gold is finished.
yep, the producers of the world will never, ever accept gold in payment for their efforts when there are freshly printed dollars to be had. It's the dollars' ever-expanding quantities that make them so valuable.
Yes please deposit it in my gold recycling dump and it will be taken care of you in an evironmentally friendly way.
I just love Tyler's little quizzes...
Flip the 30 Y chart over so it shows price instead of yield and they all match.
It is showing signs of the STFBT entering downward spiral.(speckled tapered finless brown trout)
Max Keiser said a couple of years ago when countries use dollars to buy gold it's all but over. China has been using dollars to buy gold. And what do we do? Print moar so they can buy more. Did anyone hear what Karen Hudes said? She said there is 100 thousand tons of gold in Hawaii. Anyone hear that??
I think the 3rd one looks rather vulvic-like.
Where is my prize?