EURJPY Stop-Run Sparks Brief Bounce In Stocks

Tyler Durden's picture


Trading desks are awash with chatter over which FX desk just got a tap on the shoulder as it appears beaking 141.00 in EURJPY soon after the European close sparked a mini-avalanche of sell USD orders and sent stocks ramping briefly. Some talk of US term strcuture bets gone awry (as the EUR move occurred as 5s30s broke to 2009 lows) There is little if any fundamental news to pin to this move - but when has there ever been - and gold and bonds hardly budged on the ramp.



Some chatter that a 5s30s steepener bet finally unwound as the term structure broke to 2009 lows...


but no one is confirming.

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Mon, 03/24/2014 - 14:38 | 4586478 MFLTucson
MFLTucson's picture

No end to this game!

Mon, 03/24/2014 - 14:40 | 4586492 101 years and c...
101 years and counting's picture

so, this time really is different?

i doubt it.

Mon, 03/24/2014 - 14:55 | 4586586 TruthInSunshine
TruthInSunshine's picture

The Venezuelan stock market will BE ON FIRE!

Mon, 03/24/2014 - 14:39 | 4586482 PlusTic
PlusTic's picture

As if there was any doubt it wouldn't happen at some point today...the same as every other FED-led day

Mon, 03/24/2014 - 14:41 | 4586493 Kaiser Sousa
Kaiser Sousa's picture

there r no markets...

just lines on a chart goin up in down in complete indifference to what is occuring in the REAL GLOBAL has reached the point i only monitor to see when the next phony paper price moves n the only 2 forms of real money offers yet another opportunity to add to my stack and rid my family of the MoneyChangers worthless debt coupon dollars...


Mon, 03/24/2014 - 14:43 | 4586511 FieldingMellish
FieldingMellish's picture

LOL! Just keep BTFD and selling PMs. The world is a wonderful and safe place. Open a MyRA and trust your governemnt. Take a flight on an Asian 777. Remember, those who prepare for disaster are inviting it and, therefore, enemies of the state.

Mon, 03/24/2014 - 15:18 | 4586678 I am more equal...
I am more equal than others's picture




Sardonic, a lost art.

Mon, 03/24/2014 - 14:45 | 4586531 PlusTic
PlusTic's picture

The unfortunate reality is that the only real solution to this insanity ends in a dust cloud...

Mon, 03/24/2014 - 14:45 | 4586532 Kaiser Sousa
Kaiser Sousa's picture

and dont forget to keep buying the all time highs...

"There are oodles of things Wal-Mart is fearful of, from Fed interest-rate policy to climate change, but here’s the specific language on benefits: “changes in the amount of payments made under the Supplement Nutrition Assistance Plan and other public assistance plans (and) changes in the eligibility requirements of public assistance plans.” (Yes, Wal-Mart’s lawyers got the name of the program wrong — it’s the Supplemental Nutrition Assistance Program.)

The latter language could reflect both the change in the food-stamp program as well as the ongoing debate over whether Congress should renew extended jobless benefits that lapsed at the end of December.

This isn’t the first time Wal-Mart has commented on the business impact of the food-stamp program. On Jan. 31, Wal-Mart said the reduction in food-stamp benefits by as much 5.5% in November hurt its profits last quarter and were the reason the company’s comparable-store sales were negative (-0.4%) rather than flat at its Walmart stores.

Wal-Mart’s risk factors also reflect worries about a skills shortage, both to operate their new stores as well as to build them. The latter is an issue that the building industry is more broadly worried about as well."

Mon, 03/24/2014 - 14:47 | 4586541 Lewshine
Lewshine's picture

So look at the price of silver - Down 20% in 7 days. These crooks make me sick. What they'll do to breach any and all support levels - As if to say: "Even if we were caught, you would still pay for our lawyers!!!"

Mon, 03/24/2014 - 14:57 | 4586593 Kaiser Sousa
Kaiser Sousa's picture

its stupid aint it...

6 years of counterfeiting by the MoneyChangers at the Criminal Reserve and Silver is below $20 per oz???

i smiling while i type this cause it is nothing more than a sick fucking joke...maybe i should liquidate and get a CD or MoneyMarket acct...

or, or, or - buy Stawks!


yeah right

Mon, 03/24/2014 - 14:48 | 4586550 madbraz
madbraz's picture

NY Fed can't stand long rates going lower, JP Morgan likely can't too.  The invisible hand that wants to keep the 5s30s spread above 190bps at all costs is losing this game.


This spread should go down to 100bps or less - where it should be in this environment.  That will kill someone, one of the banksters will suffer.



Mon, 03/24/2014 - 14:55 | 4586579 The_Ungrateful_Yid
The_Ungrateful_Yid's picture

The good old days ? Ha the best days might be six foot under afterall.

Mon, 03/24/2014 - 14:55 | 4586583 Tinky
Tinky's picture

Well well well...the banker suicide plot thickens:

Mon, 03/24/2014 - 14:57 | 4586591 fonzannoon
fonzannoon's picture

I commented about that a while ago Tinky. Many companies have those types of insurance polocies on their employees. It's disturbing, but it's not unique to JPM.

Mon, 03/24/2014 - 15:01 | 4586607 Tinky
Tinky's picture

Thanks fonz. Didn't mean to imply that is was solely JPM, nor that bankers are being knocked off in order to make insurance scores. However, it sure does fit right into the old "never a losing day" narrative.

Mon, 03/24/2014 - 15:05 | 4586622 fonzannoon
fonzannoon's picture

it's funny that was my thought exactly when i posted it. they literally never lose.

Mon, 03/24/2014 - 15:33 | 4586735 1fortheroad
1fortheroad's picture

Must close above 1850 or the con dies!

Mon, 03/24/2014 - 15:42 | 4586770 Yen Cross
Yen Cross's picture

    I found this interesting. The Fed. has a POMO of $2.25-2.75 billion listed for today, but have a look at the actual submitted amount for Monday March 24th 2014.

Mon, 03/24/2014 - 15:54 | 4586822's picture

Isn't it:

Mon, Mar 24, 2014 Tue, Mar 25, 2014 Outright Treasury Coupon Purchases 11/15/2024 - 02/15/2031

$0.50 - $0.75 billion




Not saying you are wrong at all, just want to understand if I am missing or mis-understading something. 

Mon, 03/24/2014 - 16:14 | 4586898 Yen Cross
Yen Cross's picture

  The actual amount submitted was just under $5 Billion. Per the link 


Here's the link to march POMO schedule  The echeduled amount for today was $2.25-2.75 billion Hope that helped.

Mon, 03/24/2014 - 15:53 | 4586816 Tsar Pointless
Tsar Pointless's picture

"Well off the lows."

Do NOT follow this link or you will be banned from the site!