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US/Europe Stocks Melt-Up Into EU Close
US and European stocks are spiking higher this morning supposedly on the back of better-than-expected data (Philly Fed) and self-referencing bias that surely Janet Yellen didn't mean what she said. Stocks (oddly) melted up on the last Philly Fed release (which was a massive miss). Anyway, fun-durr-mentals aside, this move is all about AUDJPY all the time as Financials lead the way (and are the only sector green post Yellen). European stocks are merelty tagging along for the exuberant melt-up ride. Beware of financials as CDS are widening even as stocks soar - a pattern we have seen before into the run-up to CCAR (stress-tests) and doesn't end well for bank stocks.
All about AUDJPY...
And Europe catching up into the close...
With financials leading the way...
But we've seen this exuberance before...
and copper is tanking...
Charts: Bloomberg
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Someone's got the bank stress test results early.
DavidC
Yes, "all is well", move along, move along...
The bank stress tests. Is Lew running the same tests Geithner did? Because those standards were laughable.
Yeah they all passed. nudge, nudge, wink, wink. Forget the fact that world debt is almost 50% higher than 2007 meaning in reality that they are all completely bankrupt though....
timing is everything when investing. zh is a good news feed, but 5 years of the sky is falling is just awful timing for investors.
hey zh, human behavior is not your area of expertise.
Show us the "humans" buying or selling, please, not the ones writing the HFT programs for Skynet.
whomever programmed the computers
an audacious call would have been to predict the outcome of the last 5 years and 'bet' on it
Banks stocks that missed Q4 and profit warned for Q1 all melting up, you couldn't make this shit up if you tried
It's another way to rip the shorts up and for the banks to make perfect trading quarters (and yes, I am short).
DavidC
Just another slap in the face of common sense. But why bother, at this point common sense is already in the fetal position on the ground showing no vital signs.
Well, as they say about "common sense": Common sense isn't very good, because common is another word for "average" and "average sense" is just what the "average person" thinks is real.
The average person is just another manipulated dumbasses.
I'm fealing the wealth effect already.
BTW, bonus season at my TBTF Financial Institoo-SHUNNNN (please say that in a low respectful voice). It's good to be a debt-pusher.
It's all about several hundred thousand SPY put options needing to expire worthless tomorrow.
After that, watch out below.
Bullshit. It's always just around the corner. Not this time, when the reserve currency custodians are all in on preserving the illusion and have only one tool at their disposal to do so.
Monetary madness, this can keep going up until all of the sudden the shelves are empty.
We will not allow market price discovery. We have the bots and HFTs together with Wall Street and the TBTF banks to manipulae prices in an instant if needed. So don't F with us.
- The Federal Reserve
Only 7 trading days to go til Q1 bonus/fee bookings. Short the end of the quarter at your peril.
Thus why gold was brought in line. So advisors can still tell their clients gold is a bad investment.
No collapse yet.... maybe next year, eh?
Trying to call a collapse is futile. Just remember it is baked in.
or is it? If everyone is expecting one, maybe it won't happen? Maybe its 1995 and we are about to go skyward for the NEXT 5 years?
We'll see how well a rise in s/t rates does for the financials when loan demand falls through the floor and loan defaults rise. The country is tapped out, unless you're the Fed. of course.
By tapering maybe the Fed is saying they are tapped out.
The Fed can turn up the spigots at any time. The Fed. just sees the diminishing returns of endless printing.
How's russia doing? Any new research out by Carney Investment Services?
It's good to be king, says Jamie Dimon.
so AUDJPY strength means a burrito chain is worth 60X earnings, got it...
How's that China default/Ukraine/JPY/Yellen end of the world trade coming? Talk about being 'Stolpered' and 'muppet-slain'.
"The president cautioned that the threatened economic measures if implemented could hurt the global economy, as well as the Russian economy, but "Russia must know that further escalation will only isolate it further from the international community."
I think Obama is settiing up Russia as the reason why the US market will go down...perfect scapegoat. This could be just like 2009 when he said "now is a good time to buy stocks."
Ukraina will cancel debt payments to Russia. Than starts a mess. Putin blamed.