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Despite Dismal Jobs Report, "This" Is What Just Sent Equities Higher
Ugly jobs report in which not even the spin brigade could find anything to cheer, after even the BLS said the atrocious December print was not due to the weather when it did not revise the December number? No worries: here is what the market is using as a goalseeked justification to send the futures off its post report plunge lows to a level higher than where it was before the report. See if you can spot it:
That's right - after years of ignoring the impact of the labor force participation rate, suddenly the market trading algos are so concerned about LFP they took the "surge" from the 35 year lows of 62.8% to 63.0% as the all clear signal that they can ignore all the other data in the NFP report and buy.
Another way of seeing this, is the number of people not in the labor force, which declined from an all time record 91,808 to 91,455 - just below the second highest ever.
Of course, both these trends will revert to their historic deteriorating progression, but for now it is all about finding the narrative that allows the market to explain why someone just reactivated the USDJPY 102 tractor beam which is sending everything soaring.
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`Benign’ number lol http://hedge.ly/1nUTKFQ
See USD/TRY
The "surge" in the LFP rate is surely weather related. How did Mark zandi miss this? Because he is no more than a carnival barker.
Mark Zandi, Steve Liesman, Brian Wesbury & Barry "Butterbean" Ritholtz will be cnBS to explain how & why these numbers are actually a reflection of a robustly growing economy in 5...4....3...
Embrace the fraud.
The central banks just dumped huge amounts into equities. See the movement in european markets. The PPT is alive and well.
We shall go on to the end, we shall pump in France,
we shall pump on the seas and oceans,
we shall pump with growing confidence and growing strength in the air, we shall defend our market, whatever the cost may be,
we shall pump on the beaches,
we shall pump on the landing grounds,
we shall pump in the fields and in the streets,
we shall pump in the hills;
we shall never surrender...
Since when did the markets care about real people on the streets? Markets are going up on dead cat bounce over the next few weeks. Bank on it!
pump pump pump - get it get it
They hit USD/TRY and VIX down, and the correlation algos went nuts buying everything.
IMHO. The ramp has nothing to do with LFP.
Well, the important thing is the stock market is nice and high again; so everything must be normal and good and I can go back t o sleep.
Looks like the PPT is going full blast with the futures pre-market now.
But how the hell can anybody expect equities to not sell off with shitty jobs numbers saying the ship is sinking fast!?
Nah, the ship not be sinking. Just ask prez fudgepacker and he'll tell u everyting be hunky dory so he be going to play golf.
LOL...353 long term unemployed found a job....and bullish !
Bullshit, drop a few of those "1%-ers" in south central if you want to see them get "pummeled" motherfucker.
Speaking of bullshit, I live in south-central Los Angeles. You appear to have obtained your knowledge of it, from hip-hop music videos. Suggest you use Detroit, Baltimore or Philly, to avoid sounding silly.
LFP is rising? Good news, indeed. More foodstamps for me, bitches.
Gold should have had a $25 pop. Maybe Blythe's new desk is on the 30th floor by a window.
Carmer is bullish on the number? Wow! BUY BUY BUY. He's been preparing the weather excuse for weeks
blythe?
blythe levett?
mussus danny masters?
*that* blythe?
http://www.reuters.com/article/2013/07/29/jpmorgan-commodities-history-i...
It NEVER stops snowing on Wall St.
"blight" the reptile. look at those shapeshifting eyes...
FOWARD Komrads !
But then what drives the JPYUSD rate?
The carry trade is what sets that rate. Traders borrow in Yen at 0% then convert them to dollars to buy bonds here and book the spread. As long as the exchange rate remains stable it's an easy trade.
ZH/Tylers please just make a common thread section titled "Missed It By That Much"
Wow! This is just odd......
Everything is bullish. BTFD.
No way...are you just picking any # that is going up and saying that is the new correlation as to why the market is going up? Enough already. TPTB want the market higher, that's it.
Didn't take long to get back to bad news is good news or doesn't matter.
companies and the Fed HATE....ABHOR declines.....bear markets, shorts....are like vermin.
It's more than obvious where we are headed but when AAPLs main concern is BUYING BACK SHARES TO SQUEEZE SHORTS....
IT'S A WTF MARKET INDEED.
Someone needs to inform the algos that there has been no extenstion to the extended ue benifits, so expect retail sales to continue their slide.
HAHAHAHAHA!!! This market is a joke isnt it?? How can anyone seriously trade this market and not be on five different types of medication and not have a drinking problem and coke habit. Unreal.
again...if that price of gold collapses then you'll really start to see some "fireworks."
I think intraday trading is OK. You are nuts though to be very long overnight, with China ready to implode at anytime.
That makes sense, but it's odd that you don't see evidence that traders are cashing out their positions at the end of the session. Indeed, the traditional "3:30 ramp into the close" suggests that somebody out there is doing just that - paying a premium to be long overnight.
Wow, futures at day high. Made some money pre-hours buying XIV on the dip, but left a lot on the table.
The amount of complacency on CNBC remains stunning. David Faber is the only non-cheerleader left.
I think reason for ramp is taper off hope
I think the reason for the ramp is that is how they make money...big money. BTFD, buy before you miss out and when its going down, cut their throats. Makin money is all it is. I would assume for the markets to go up, someone must be buying...who? Big players with deep pockets that can seek out anything the claim to be a buying opportunity and then proceed to buy and push prices up, hoping to suck the muppets in, as always relying on their greed to over ride their rationality. They can turn around and do the opposite, touting something negative (which is never hard to do) and start selling, watching prices fall after they initiate the avalanche, only to become the buyer of last resort. When you hold most of the cards and own the casino, how can you possibly lose?
i figured it was central printers just shorting yen. afterall, the only thing that matters is destroying yen to boost stocks because artificial wealth is the only thing that matters in this ponzi world.
true.....true.....why explain it...its fucking broke
The news is smoke and doesn't matter. It never did.
Fun da mentals.
No prob. Yellen loading up the broomstick for an (outright) OQe drop on wall street at 1:30.
All due respect ZH.....but it doenst matter of an excuse.....let the programs run and SQUEEZE CITY......
SQUEEZE.
Can't the FED just put them on the payroll as their pretend economy knows no bounds!
This means higher utility rates. Yay.
Who needs reality? We have PRINTED prosperity now!
Except the NSA numbers all degraded badly. 900,000 new unemployed ( NSA). Participation rate declined again even in the face of a declining workforce size.
The sheep at home don't pay attention to the details. They'll see the DOW was up and consider all is well.
Happy hour and purple hooter shooters for the bar... on me.
Pathetic.
I'm gonna need directions.
Yeah, CNBC is running the "Labor force participation rate +0.2%" along with "Payroll earnings up 0.2%" more than the payrolls number; but they're not cheerleading - it's journalism.
they're as surprised as anyone too.
they're long gold as well.
Disaster is good now! I get it!
Dip Buyers and other value seeking robots are celebrating the HUGE uptick in labor force participation. Life is so good for those 3 (seasonally adjusted) people who reentered the labor force.
BTFD OMG
How can the participation rate rise with jobs produced fewer than population growth?
Household survey is also done at the same time, so two different surveys.
Here's my take:
Wall St will expect the Fed to UN-taper after this! Bubble reflated!
This is the strongest evidence ever of player(s) manipulating the stock market on the largest scale possible through the use of future markets.
Get to work, FBI. Get to work, SEC. Slam dunk.
Ah, nevermind.
The sad thing is, when this thing finally falls apart and crashes down. They will already have come up with a someone else to blame for the crash. When the middle class losses 90% off their 401k's and their home values drop by 70% they will be in the streets with pitchforks. And the masters of the universe will already have a plan to be on their side to direct their anger at someone else. They will just have to direct the anger of the dumb animals, prety simple.
Ha-Ha...you said "Masters".
So why do I get depcaptated when I jump into the pool???
Inconceivable!
Just like housing inventory stats. 6 million units artificially being held off the market to prop up prices and banks, so any slight sales uptick off the bottom is hailed as the second coming of a secular bull market in housing. They got nuthin'.
Anyone remember Yazz and the Plastic Population? The Only Way Is Up!
http://www.youtube.com/watch?v=UtKADQnjQmc
I guess no one wants to point out that year over year the civilian noninstitutional population jumped by 2.3 million but the civilian labor force dropped by 240,000. I guess it's still bullish that we have supposedly less available workers and we should just ignore that two million people are somehow excluded from being called unemployed in the unemployment rate calculation. I guess everyone jumping the borders and fences are 56 year olds collecting disability.
They need to set up big screens TVs on every street corner so all those unemployed can watch the market.
LOL I knew a green open today would Zero Hedgers in fits.
OH NO FOR BITCOIN!! Fonestar where are you??
http://btcjournal.com/content/history-being-made-bitcoins-first-bankrung...
I've heard of taking advantage of
adversity, even one self-created
and sold off to one's own customers,
but to imagine that U.S. monetary
policy devoted to re-creating the
banks' mortgage bubble would actually
benefit from the Fukushima disaster
by enabling the dollar to withstand
that policy, while Beijing also
takes advantage of it so as to
threaten invading the Senkaku
Islands, does not represent my
idea of the cooperation of cultures
living lives defined by democratic
process. Cultures of life.