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Dow & S&P Close At Record Highs As 10Y Approaches 3%

Tyler Durden's picture




 

VIX closed at its lowest in a month as stocks pushed on higher to new record-er highs (and Twitter hit $70). The Nasdaq underperformed today (after yesterday's outpeformance) as the Dow, S&P, and Russell all closed around 0.4% higher (and Twitter added 8.2%). Treasury bond yields rose notably all day with the 10Y at its 2nd highest closing yield of the year +5.4bps to 2.98% today (but Twitter is almost a double off its lows in 2 weeks). Commodities drifted higher all day with Gold back over $1200 (and that so-called fat finger in copper leaving it up large still on the day). The USD ended unch with slight weakness in JPY. From the Taper lows, the S&P is up 3.7% (but Twitter is up 30% in that period).

Stocks rose today - as good news seems like good news (if you choose to ignore the massive seasonal adjustments)...

 

In case you missed it...

 

Bonds sold off notably - pressing 10Y up near the high yields of the year...

 

Commodities pushed higher with Copper's fat finger not retracing much...

 

Charts: Bloomberg

 

 

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Tue, 12/24/2013 - 14:19 | 4273629 HedgeAccordingly
HedgeAccordingly's picture

Merry Christmas to all.. and to all a Goodnight! | including those with fat fingerz | http://hedge.ly/1ezhzRE 

Tue, 12/24/2013 - 20:46 | 4274357 SamAdams
SamAdams's picture

Yawn, wake me just before 4%.  Then the short and taper is on.  Gee, i dont even have a website and this advice is free!

Happy end of solstice.  Tomorrow is the birth of the $un of god (note little g).  Religions of all, rejoice!

Nibiru crowd, worry much!  Tonite is closest pass of Ison to earth...

All politics aside, wishing each of you everywhere, a Merry Christmas.

-Sam

Tue, 12/24/2013 - 14:18 | 4273630 TeamDepends
TeamDepends's picture

Merry Christmas all!

Tue, 12/24/2013 - 14:22 | 4273635 fonzannoon
fonzannoon's picture

what a beautifully centrally planned new year.

1850 S&P

3% 10yr

1200 Gold

sky net is complete. 

Tue, 12/24/2013 - 14:26 | 4273645 Panafrican Funk...
Panafrican Funktron Robot's picture

Next year this time:

18500 S&P

18% 10yr

120,000 gold

Tue, 12/24/2013 - 14:41 | 4273668 TeamDepends
TeamDepends's picture

Or:

S&P 185

10yr  Fuggetaboutit

Gold  1oz = 1 McMansion

Tue, 12/24/2013 - 17:25 | 4273980 Exponere Mendaces
Exponere Mendaces's picture

I believe the term is "organic" and "moving forward". Yeah, moving forward to the BIG DEFAULT. Who knows, maybe they'll actually lose control of the 10-Year... hahaha, who am I kidding, that thing is probably as rigged as LIBOR.

Tue, 12/24/2013 - 14:34 | 4273659 new game
new game's picture

bonus post for you all! hehe

10 year to 3 - luv it - bring out the algo big guns-emerg mtg; calling all primary dealers we got a corner that is getting down right too small for all our phd brainsto operate free of mathematical apacolypse...

fonz ya gotta luv this shit!

gold above 1200 - woow bow wow....

ptb are in control - hehe

merry x-mas (the king is back)

bring muur of course!

2014 will be very interesting!

cash baby cash

Tue, 12/24/2013 - 14:34 | 4273664 Ness.
Ness.'s picture

Merry Christmas ZHer's... thank you.  I'd lose my mind thinking I was the only one who thought this shit was fucked up.

 

Now it's off to see my cousin's newest KIZZ back tattoo and hear about his 3rd bankruptcy and his 4th DUI.

 

Cheers!!

Tue, 12/24/2013 - 15:01 | 4273702 Yen Cross
Yen Cross's picture

  After the ridiculous week the markets have had, I thought it fitting for a picture of the "Deer". I hope you enjoy the festive nature of it. Merry Christmas Bitchez.

      picture of rudolph the reindeer - Google Search

Tue, 12/24/2013 - 15:10 | 4273717 Save_America1st
Save_America1st's picture

soon...one 'o these days very soon...possibly in 2014, but if not then most definintely in 2015...this deer will be back, and with a vengeance.  And ZeroHedge will be writing this article all over again, updated with muey blood and guts.

http://www.zerohedge.com/news/deer-back-markets-go-reality

Tue, 12/24/2013 - 15:01 | 4273704 new game
new game's picture

FAA financial adicts anon.

meetings online on demand to handle the absolute absurdly stupid monetary policy.

yes , there is sanity, just not at the leadership level...

gotta go and all aboard the sleigh to the land of ignorance for a few days.

peace out mon!

Tue, 12/24/2013 - 15:01 | 4273709 gosh
gosh's picture

im curious what will happen when 10y goes over 3% and stays there - will there be blood in the streets?

Tue, 12/24/2013 - 15:04 | 4273713 fonzannoon
fonzannoon's picture

No

merry christmas everyone.

Tue, 12/24/2013 - 15:05 | 4273715 Uber Vandal
Uber Vandal's picture

I don't know how many of us were in the markets (LOL) ca. 1998- 2001, but this whole ride right now reminds me exactly of the dot.com ride.

I remember thinking I was invincible, how everything I did made money, how easy it was.

And, this is just how easy it all is:

https://www.youtube.com/watch?v=AYrpROr9Gmk

Tue, 12/24/2013 - 18:19 | 4274117 webspin
webspin's picture

Reminds me of Febuary 1995 when everyone was claiming; "DOW 4500! impossible! How could the markets be so over-priced?" By Dec 1999 when I though even a fool could see the market was a bubble, those same people could only dream of continuing riches.

Most people get the market wrong,

You are more likly to be in the "most people" camp.

Markets have to be that way (this should be obviouse but for some reason isn't).

Tue, 12/24/2013 - 19:15 | 4274216 Uber Vandal
Uber Vandal's picture

I probably am most people.

I was born with nothing, have few expectations of the ending being much different.

Merry Christmas :)

Tue, 12/24/2013 - 16:50 | 4273913 Hindenburg...Oh Man
Hindenburg...Oh Man's picture

Any thoughts on what might precipitate a January sell off?

 

 

Tue, 12/24/2013 - 21:02 | 4274384 thismarketisrigged
thismarketisrigged's picture

they should just have half day trading sessions more often.

 

u get extremely low volume, and these criminals always r able to pump the market up 5-7 s&p points every time we have a half day session, and i know thats not so many pts considering the current index level, but it all adds up.

 

its like they took away the sell button, and u r only allowed to buy equities for now, no selling until the fed allows, and when that happens, everyone will be trying to get out at once.

 

its going to be fun to watch whenever it happens.

 

merry xmas bitchez

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