• Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.
  • Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.

Meanwhile, The NY Fed's Trading Desk Skeleton Crew Is Getting A Work Out

Tyler Durden's picture


Wondering why stocks aren't soaring - despite the efforts of every asset-getherer and TV talking head to explain how the Fed is as dovish (if not more dovish) than ever? Perhaps the answer lies in the following table... when the fed admits to being "over-optimistic" and focuses the market on a 6-month period after taper before rates will rise, maybe there just aren't enough people at 33 Liberty to push the green buttons...


Not many "green" Bloomberg terminals at the NYFed


and their colleagues in Washington are all "at play" while the lead cat is "away"


What is perhaps most worrying is the dramatic increase in algo activity as the "liquidity" providers start to run for the hills and exacerbate the one-way order flow... (via Nanex)

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Wed, 03/19/2014 - 15:18 | 4568996 Hindenburg...Oh Man
Hindenburg...Oh Man's picture

Well, when I lose a month's worth of profits in 3 days on my mining stocks, I like to see everyone suffer. Free fall S/P, and NASDAQ. Free fall...

Wed, 03/19/2014 - 15:21 | 4569019 kliguy38
kliguy38's picture

relax........they're only flushing the momos that are trying to jump on.......the boyz are in this trade and the're shorting the overall market too......sit back and watch how the jackals work.........

Wed, 03/19/2014 - 15:22 | 4569028 101 years and c...
101 years and counting's picture

the bull is dead.  

Wed, 03/19/2014 - 15:29 | 4569064 SheepDog-One
SheepDog-One's picture

Right now Mr Yellin is jamming a stick up the dead bulls ass and stapling sunglasses on its face for Weekend at Bernankes Part 12! Corpse starting to smell real ripe tho.

Wed, 03/19/2014 - 15:30 | 4569071 ParkAveFlasher
ParkAveFlasher's picture

Tax refunds are a bitch!  If you feel a little slow and sluggish, it's not the weather, it's a full-blown liquidity crisis!

Wed, 03/19/2014 - 15:32 | 4569075 Divided States ...
Divided States of America's picture

the Fed was wrongly over-optimistic???

according to the bloomberg bulbs, looks like the Fed is over-staffed!! with slackers who aint even at work!

Wed, 03/19/2014 - 15:48 | 4569178 gmrpeabody
gmrpeabody's picture

" I lose a month's worth of profits in 3 days on my mining stocks"

So what's changed...,

NOTHING.., they are still growing the balance sheet and inflation is still cruising along at 8+ percent.

You'll be fine.

Wed, 03/19/2014 - 15:49 | 4569191 Soul Glow
Soul Glow's picture

But stocks can only go up!

Wed, 03/19/2014 - 17:05 | 4569512 B.J. Worthy
B.J. Worthy's picture

With the Fed, any number of employees over 0 is over-staffing.

Wed, 03/19/2014 - 15:34 | 4569099 aVileRat
aVileRat's picture


Love that 1-verb 'ZOMG' panic crash. More fun than anything hollywood (small "h") could cook up with 4 years of big special effects.

Expect that shallow glide path to bite her in the ass when liquidity crunch comes due (either by China or offshore wealth effect boomerangs).


Wed, 03/19/2014 - 15:33 | 4569086 CrashisOptimistic
CrashisOptimistic's picture

Oil $100+ and climbing.

That is all.

Wed, 03/19/2014 - 15:57 | 4569228 Panafrican Funk...
Panafrican Funktron Robot's picture

Some interesting battles going into opex this week.


Might possibly stay relatively flattish through end of month due to strong QE dollars left on the table, but next month is going to be a lot less pretty, particularly with earnings season starting April 8th.  

Wed, 03/19/2014 - 15:31 | 4569074 Headbanger
Headbanger's picture

Great!   Let's all have a big barbeque with it!   I'll bring a couple kegs!!    What flavor??

Wed, 03/19/2014 - 15:33 | 4569082 El Vaquero
El Vaquero's picture

What flavor?  Why, the free and cold flavor, of course. 


Just keep in mind that bulls are going to be tougher than steers and cows.  This'll need to be a true bbq, rather than grilling, to make it tender.  I've got a ginormous smoker, as it turns out. 

Wed, 03/19/2014 - 15:37 | 4569116 Headbanger
Headbanger's picture

Duuude!!!   Agree!     How bout a keg of Yuengling Black & Tan and a good Texas brew?? 

Wed, 03/19/2014 - 15:53 | 4569175 El Vaquero
El Vaquero's picture

I'm low maintaince.  All cold free beer is good beer.

Wed, 03/19/2014 - 15:45 | 4569171 sodbuster
sodbuster's picture

Let's make steers out of them bulls and have rocky mountain oysters!

Wed, 03/19/2014 - 16:06 | 4569267 Panafrican Funk...
Panafrican Funktron Robot's picture

Better get a good freezer and stock up, meat prices going up:



Wed, 03/19/2014 - 16:30 | 4569352 El Vaquero
El Vaquero's picture

Dude, I have a freezer full of elk. 

Wed, 03/19/2014 - 15:49 | 4569188 asteroids
asteroids's picture

There is definitely a different tone to this tape. Maybe Old Yeller told folks to NOT step on the gas too hard if the marke fell.

Wed, 03/19/2014 - 15:17 | 4568997 The Axe
The Axe's picture

Maybe...the short end of the curve...broke the algo   or they and all at the PussyCat Lounge

Wed, 03/19/2014 - 15:17 | 4569000 Rising Sun
Rising Sun's picture

shove this up your cunt Yellen!!!!!!!!!!!!!!

Wed, 03/19/2014 - 15:28 | 4569061 asscannon101
asscannon101's picture

Dammit, man! Don't sugar coat it- tell me how you really feel!!

Wed, 03/19/2014 - 15:18 | 4569002 Theta_Burn
Theta_Burn's picture

Can you imagine another 10-20bil taper from here?

Wed, 03/19/2014 - 15:23 | 4569033 DoChenRollingBearing
DoChenRollingBearing's picture

I can only dimly imagine that would not be a pretty sight.

Wed, 03/19/2014 - 15:26 | 4569051 McMolotov
McMolotov's picture

Speaking of not-pretty sights, did you see the Fox reporter who accidentally flashed a picture of a dong on live television yesterday?


It's like Tyler Durden splicing porn into family films.

"Nobody knows they saw it. But they did."

Wed, 03/19/2014 - 15:30 | 4569073 SheepDog-One
SheepDog-One's picture

That's like 3 years old at least.

Wed, 03/19/2014 - 15:34 | 4569102 SheepDog-One
SheepDog-One's picture

I thought it was a different incident....I don't think any of these are accidents.

Wed, 03/19/2014 - 15:37 | 4569126 McMolotov
McMolotov's picture

It's karmic retribution for using Twatter as a news source.

Wed, 03/19/2014 - 19:36 | 4569993 Dimons jock
Dimons jock's picture

Shit NSA spying on me again. Sorry everybody...

Wed, 03/19/2014 - 15:34 | 4569094 roadhazard
roadhazard's picture


Did you know that Canada refused FOX a broadcasting license.

Wed, 03/19/2014 - 15:18 | 4569004 TumblingDice
TumblingDice's picture

Here comes Yellen's test.

Wed, 03/19/2014 - 15:18 | 4569005 pragmatic hobo
pragmatic hobo's picture

no pomo today as well ... i think today the fed basically handed off to ppt ... or perhaps to getco ...

Wed, 03/19/2014 - 15:19 | 4569010 firstdivision
firstdivision's picture

Oh good, we're saved now!

Wed, 03/19/2014 - 15:27 | 4569014 TruthInSunshine
TruthInSunshine's picture


ZIRP4EVER is priced in. They could EXPRESSLY PROMISE ZIRP UNTIL 2020 (though they couldn't deliver it due to inflation's ultimate checkmate) and it won't matter.

Tapering will continue no matter what + China's real time, ongoing crisis will hammer risk on asset classes.

China would love to see un-taper, if only to ease their crash, but it's never going to happen. Ask Jeremy Stein (the only truly bright FOMC member - or even some of the Dovish Dullards as to why - 4.2 trillion and still climbing balance sheet).

Wed, 03/19/2014 - 15:19 | 4569016 ptoemmes
ptoemmes's picture

Can't hit the underhand softballs eh...

Wed, 03/19/2014 - 15:20 | 4569020 Everybodys All ...
Everybodys All American's picture

Anyone care to ask why Belgium is now the third largest holder of our Treasuries?

Wed, 03/19/2014 - 15:26 | 4569047 Bastiat
Bastiat's picture

Freemoney loans to buy Treasuries equals backdoor taper.

Wed, 03/19/2014 - 15:35 | 4569111 NOTaREALmerican
NOTaREALmerican's picture

China was cleaning the middle drawer - where they keep all the old envelopes stuffed with financial papers, and stuff - and they said to Belgium:  here, hold these a minute. 

Wed, 03/19/2014 - 15:21 | 4569023 Winston Churchill
Winston Churchill's picture

Busy on their FX terminals,Tyler.

Wed, 03/19/2014 - 15:40 | 4569143 LawsofPhysics
LawsofPhysics's picture

Indeed.  Looking at that data, how can anyone not conclude that The Fed is the "market"?

Wed, 03/19/2014 - 15:21 | 4569025 shanearthur
shanearthur's picture

She should have used "under-pessimistic"

Wed, 03/19/2014 - 15:21 | 4569027 LawsofPhysics
LawsofPhysics's picture

Fuck em.

Wed, 03/19/2014 - 15:23 | 4569032 El Vaquero
El Vaquero's picture

Leave it to LoP to state our feelings precisely and succinctly. 

Wed, 03/19/2014 - 15:32 | 4569078 LawsofPhysics
LawsofPhysics's picture

Full "faith and credit" bitchez...

(in other words, no faith=NO CREDIT)


Wed, 03/19/2014 - 15:33 | 4569080 LawsofPhysics
LawsofPhysics's picture

FYI, don't worry these asshats are overcompensated to begin with.

Wed, 03/19/2014 - 15:24 | 4569040 SheepDog-One
SheepDog-One's picture

Get to work, Mr Yellin! :P

Wed, 03/19/2014 - 15:24 | 4569041 viator
viator's picture

Don't worry, they got you covered. The 3:30 ramp is alive and well.

Wed, 03/19/2014 - 15:25 | 4569046 Non Passaran
Non Passaran's picture

This is great news and if I had to guess I'd say it's going to get worse.. 

I think we'll have a 2% down day pretty soon. 

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