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Bond Yields Soar But Stocks Unsure Following Schizophrenic Jobs Data

Tyler Durden's picture




 

Great news - unemployment rate is tumbling (stocks rally and bond yields rip higher). Bad news - unemployment rate is tumbling (for all sorts of technical reasons that are entirely fallacious and do not reflect reality at all - stocks dump)... Bonds - after 2 days of aggressive short-squeeze covering - are bouncing higher in yield and stocks not holding any bid (with gold down) as better-than-expected data headlines suggest the punchbowl is steadily disappearing over the horizon. The USD is surging with USDJPY pumped up to 103 (but stocks not holding it for now) Perhaps bonds will recover once they sniff below the surface...

 

 

USDJPY blew through stops at 103 and is fading back now...

 

Stocks and bonds have a long way to play catch-down...

 

Charts: Bloomberg

 

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Fri, 05/02/2014 - 08:54 | 4719534 HedgeAccordingly
Fri, 05/02/2014 - 08:55 | 4719542 InjectTheVenom
InjectTheVenom's picture

i dunno about you guys, but i'm lookin' for a new ath to buy !    bring it on !

Fri, 05/02/2014 - 08:57 | 4719560 Haus-Targaryen
Haus-Targaryen's picture

When will competeting actors begin to invest in competeting algos?  It will be like Battle Star Galactica, but in real life. 

Fri, 05/02/2014 - 09:02 | 4719588 kliguy38
kliguy38's picture

mommy's gonna take your punch bowl away you fochin clownazz's and when mommy and GS is done with you they'll throw you a towel to wipe your azzes

Fri, 05/02/2014 - 09:06 | 4719620 strannick
strannick's picture

People actually want a yield return for the privilege of lending to a bankrupt nation?

Fri, 05/02/2014 - 09:16 | 4719676 kliguy38
kliguy38's picture

hehehehe........well they AINT gonna get it.......once they figure that it aint comin' back.......then what??? WHAT do you do??? WHAT?

Fri, 05/02/2014 - 10:41 | 4720079 Jam Akin
Jam Akin's picture

More "Price covery" in the markets today.  That's all we see anymore.  Not discovery, rather covery.

Fri, 05/02/2014 - 09:06 | 4719619 Xibalba
Xibalba's picture

so say we all

Fri, 05/02/2014 - 08:56 | 4719543 GetZeeGold
GetZeeGold's picture

 

 

Stocks Unsure Following Schizophrenic Jobs Data

 

Oh crap.....I don't think anyone is buying this!

Fri, 05/02/2014 - 08:58 | 4719563 fonzannoon
fonzannoon's picture

Tyler that 10yr ain't soaring that much and is starting to compress. Moar flattening ahead?

Fri, 05/02/2014 - 09:49 | 4719815 tip e. canoe
tip e. canoe's picture

it did bounce hard off 2.70 didn't it?    like a handball served by a Puerto Rican papi off the Harlem asphalt.

been having a suspicion that the fat finger to 2.95 on 4/21 was a telegraph to where the 10yr was heading, but now beginning to wonder.

Fri, 05/02/2014 - 09:50 | 4719824 fonzannoon
fonzannoon's picture

The word around the campfire is the shorts can't even cover this morning. No sellers.

Fri, 05/02/2014 - 11:17 | 4720286 tip e. canoe
tip e. canoe's picture

ouch

Fri, 05/02/2014 - 08:54 | 4719536 Xibalba
Xibalba's picture

check mate

Fri, 05/02/2014 - 08:54 | 4719537 So Close
So Close's picture

I see your usless jobs report and raise you a rigged S&P.

Fri, 05/02/2014 - 08:57 | 4719558 g'kar
g'kar's picture

Next Tuesday will be interesting.

Fri, 05/02/2014 - 08:54 | 4719538 LawsofPhysics
LawsofPhysics's picture

And there it is...

Told ya.

Another successful "sting" in less than 24 hours.

Fri, 05/02/2014 - 08:57 | 4719556 101 years and c...
101 years and counting's picture

"they" were selling all April.  tops are rounded for a reason.  now its time to trap the sheep/peasants it took "them" 4+ years to get back into stocks.

Fri, 05/02/2014 - 09:10 | 4719644 El Hosel
Fri, 05/02/2014 - 09:02 | 4719591 Yen Cross
Yen Cross's picture

  I watched usd/jpy leak higher all through Europe, so I knew what to expect. The cat was out of the bag about 2 hours before London opened. No manipulation here.

Fri, 05/02/2014 - 09:42 | 4719788 tip e. canoe
tip e. canoe's picture

none whatsoever

plant fruit trees and hedge accordingly ;~)

Fri, 05/02/2014 - 09:12 | 4719656 Hongcha
Hongcha's picture

Filled USLV in the 40 range.

Fri, 05/02/2014 - 11:05 | 4720212 Hongcha
Hongcha's picture

Covered 42.41 -- 6.5% profit thank you sir may I have another?

Fri, 05/02/2014 - 09:37 | 4719773 SheepDog-One
SheepDog-One's picture

Belgian bulk bond buyer seems to love it so far.

Fri, 05/02/2014 - 10:08 | 4719909 elwind45
elwind45's picture

It is not the YTM that is of value to bond guys its the ability to control larger credit positions because of its collateral acceptance ease? Holding something until maturity is the minorist of reasons to buy bonds right now! Having access to these markets would be epic considering the total divergance of sense being displayed in today's commentary?

Fri, 05/02/2014 - 09:59 | 4719879 elwind45
elwind45's picture

After this report is there any doubt that USA is much further along than the rest of the currency blocks? Day to day fluctuations make interesting copy but when currency traders are looking for growth and not epic dislocations they will be wanting DOLLARS! It not how far you have come as nation its how much your currency retains power of the purchasers COMPARED externally?

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