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Post FOMC Market Reaction: JPY Loses 102 And Stocks Crumble

Tyler Durden's picture




 

Emerging Market FX is tumbling post FOMC; IG and HY credit market spreads are knocking wider; Treasury bond yields are plunging (after a knee-jerk higher); and the USD is rising. However, JPY is outpacing the USD move and with its break below 102 critical support, US equities are plumbing new pre-December-Taper lows... S&P futures are now down over 35 points from the morning "EM is fixed; where are all the sellers" highs...

Dec Taper gains gone for Dow and S&P and almost for Russell...

 

JPY carry unwind collapsing stocks...

 

10Y kneejerked higher in yield and then tumbled...

 

EM FX is fading back...

 

Gold rose into the report...(oddly) then collapsed and rallied back...

 

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Wed, 01/29/2014 - 15:29 | 4380985 Cursive
Cursive's picture

Look at that bounce off of 1770.50 (cash)!  Algos in control and if close below 1772, blood on Wall Street tomorrow.

Wed, 01/29/2014 - 15:34 | 4381008 papaswamp
papaswamp's picture

SP futures blew through 1770.

Wed, 01/29/2014 - 15:37 | 4381022 Winston Churchill
Winston Churchill's picture

Gold holding its own.

Time to burn some dry powder.

Wed, 01/29/2014 - 15:39 | 4381039 maskone909
maskone909's picture

weather report

 

heavy downpour of bankers from high-rises

Wed, 01/29/2014 - 15:51 | 4381125 Dr. Richard Head
Dr. Richard Head's picture

Don't worry, the Fed will open its Yellenbrella.

Wed, 01/29/2014 - 15:37 | 4381027 TeamDepends
TeamDepends's picture

It is interesting to note that many appear more than willing to ride the Titanic all the way down.

Wed, 01/29/2014 - 16:28 | 4381352 SAT 800
SAT 800's picture

Oh, always; they don't call it a herd mind for nothing.

Wed, 01/29/2014 - 17:45 | 4381786 SoilMyselfRotten
SoilMyselfRotten's picture

But those people on CNBC tell me it's a great buying opportunity?!?

Wed, 01/29/2014 - 16:24 | 4381326 Shleprock
Shleprock's picture

Fightin hard to hold 1772.  Not gunna happen  look out below!!

Wed, 01/29/2014 - 15:29 | 4380987 SAT 800
SAT 800's picture

Crumble. first I had a cookie. then I just had some crumbs.

Wed, 01/29/2014 - 15:31 | 4380988 101 years and c...
101 years and counting's picture

no way. the fed starts bailing at all time high bullishness, all time high leverage and record low cash.  it only took 5+ years of lies and printing, but they finally got the small guy sucked in....and promptly pulled the rug.

Wed, 01/29/2014 - 15:32 | 4380991 Bearwagon
Bearwagon's picture

Yeah, that's more how I like it ...

Wed, 01/29/2014 - 15:31 | 4380995 ebworthen
ebworthen's picture

Bill Gross embarassing himself on CNBC.

I'm beginning to see a correlation between guest appearences and poor fund performance.

Wed, 01/29/2014 - 15:32 | 4380996 SAT 800
SAT 800's picture

CRAASH !! WTF was that? OH, nothing dear, it was just the stock market.

Wed, 01/29/2014 - 15:36 | 4381016 Hedgetard55
Hedgetard55's picture

FED proxies buying the dip with both hands (and our money).

Wed, 01/29/2014 - 15:39 | 4381035 SheepDog-One
SheepDog-One's picture

Just until MyRape gets up and running.

Wed, 01/29/2014 - 15:35 | 4381017 Obama_4_Dictator
Obama_4_Dictator's picture

lol - zerohedge call the bottom once again!

Wed, 01/29/2014 - 15:42 | 4381034 Grande Tetons
Grande Tetons's picture

Kinda fucked, eh. 

Longing the Yen is like kissing a fan. 

Wed, 01/29/2014 - 16:27 | 4381344 SAT 800
SAT 800's picture

never tried kissing a fan; tried a lot of other stupid things, tho. Funny comment.

Wed, 01/29/2014 - 15:47 | 4381082 lolmao500
lolmao500's picture

Yeah because the stock market levels really shows reality on the ground-NOT.

Wed, 01/29/2014 - 15:36 | 4381018 ebworthen
ebworthen's picture

DOW down 200 then bouncing back to pre FOMC decision levels.

"Buy!  Buy!  Buy!  Plan that MyRa now!"

Ack!

Wed, 01/29/2014 - 15:36 | 4381021 Caracalla
Caracalla's picture

Off the lows....  Hope everyone BTFD today.  It's probably headed higher from here.

Wed, 01/29/2014 - 15:50 | 4381117 Headbanger
Headbanger's picture

You're probably doing crack or just an idiot.

Wed, 01/29/2014 - 16:13 | 4381247 SAT 800
SAT 800's picture

!!

Wed, 01/29/2014 - 15:36 | 4381025 Fiat Burner
Fiat Burner's picture

PPT hard at work. We'll be green soon.

Wed, 01/29/2014 - 15:39 | 4381031 Ness.
Ness.'s picture

Right on cue - tyler posts article on collapse of equities - immediately followed by 50 point dow ramp.

 

golf clap.

Wed, 01/29/2014 - 15:40 | 4381050 Winston Churchill
Winston Churchill's picture

You must be looking at a different ticker to me.

Nobody will want to be holding tonight.

Wed, 01/29/2014 - 16:23 | 4381315 X_mloclaM
X_mloclaM's picture

bro, it rolled over dec 31, u rully need to unplug the tv

pls see:

gold  -- dbl bttm

dow  -- high

10s yield  -- dbl bttm

Wed, 01/29/2014 - 15:40 | 4381042 Unknown Poster
Unknown Poster's picture

GS/JPM DIY BTFD

Wed, 01/29/2014 - 15:39 | 4381045 SheepDog-One
SheepDog-One's picture

Time to shear the BTFD'ers.

Wed, 01/29/2014 - 16:24 | 4381328 SAT 800
SAT 800's picture

Don't discourage him; I need people to take money away from.

Wed, 01/29/2014 - 15:44 | 4381061 SillySalesmanQu...
SillySalesmanQuestion's picture

Down goes JPY! Taper goes to the corner as the referee counts...7,8,9,10. It's over.

Wed, 01/29/2014 - 17:51 | 4381819 Babaloo
Babaloo's picture

Hey dumb ass, and all the up voters.  The yen is not going down.  It's rallying vs the dollar.  Fewer yen per dollar means it's going up, not going down.

Gawd, it just boggles my mind how 'effin stupid the people who comment here are.

Wed, 01/29/2014 - 15:43 | 4381062 NoWayJose
NoWayJose's picture

The nice thing about a taper is that it spreads the market pain out over a 7 or 8 month period... All down!

Wed, 01/29/2014 - 15:45 | 4381078 Frank N. Beans
Frank N. Beans's picture

-->  so did we get a knee-jerk down? 

-->  or a knee-jerk up?

 

Wed, 01/29/2014 - 15:58 | 4381165 Jonas Parker
Jonas Parker's picture

Just a knee-jerk off!

Wed, 01/29/2014 - 15:47 | 4381080 SheepDog-One
SheepDog-One's picture

'FED to taper another $10 billion'...hey no worries I'm sure, minimum wagers are about to make up that difference as they pile their whole measely paycheck, plusSNAP cards, into dickhead Oblahblahs MyRape account. I'm sure.

Wed, 01/29/2014 - 15:48 | 4381088 dasein211
dasein211's picture

Of course they'll defend 1775.... And of course they'll fail. It didn't plunge immediately after the last taper. We still have 3-5 weeks of oscillations according to the charts. EM's will take it down. That move really was a "Turkey". But it's coming..... Oh it's coming!

Wed, 01/29/2014 - 16:00 | 4381169 Headbanger
Headbanger's picture

No... It's here.

Wed, 01/29/2014 - 16:19 | 4381286 SAT 800
SAT 800's picture

Yeah; it is. it's a little late to defend 1775; the DOW is down over 200pts. at 3;15pm. Gonna be a lot of fucked up brokers and traders in the manhattan bars this evening.

Wed, 01/29/2014 - 15:51 | 4381108 Sufiy
Wed, 01/29/2014 - 16:15 | 4381268 SAT 800
SAT 800's picture

it doesn't usually; but it does on fear. And there's fear in high places because countries are having problems; or I should say, having problems that are no longer hidden and pappered over.

Wed, 01/29/2014 - 16:05 | 4381209 ColoQ
ColoQ's picture

Anyone heard from Hugh Hendry lately?  I could use his opinon on what's trending.

 

http://www.thedevilsmetal.com/wp-content/uploads/2014/01/HughHendryUpdate.png

Wed, 01/29/2014 - 16:20 | 4381301 SAT 800
SAT 800's picture

I like listening to that crazy Scot, myself. probably because I'm a crazy Scot too, never got the hang of agreeing with anyone about anything; it's a national characteristic. Why the fuck be Friends, when we could fight to the death !  Counterproductive, actually; but at least it keeps you from doing what ever everyone else is doing.

Wed, 01/29/2014 - 16:23 | 4381308 SAT 800
SAT 800's picture

Interesting chart.

Wed, 01/29/2014 - 16:07 | 4381221 Yen Cross
Yen Cross's picture

   If the China HSBC manufacturing numbers are bad in Asia later, this turd(market) is going to get really stinky.

Wed, 01/29/2014 - 16:12 | 4381252 BigRedRider
BigRedRider's picture

Brakes is gone Weezie!! "Weeze fweewheelin!"

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