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Dow Dumps To Red For 2014 As Treasury Yields Tumble Again
Despite two desperate attempts to juice stocks overnight via JPY, US equities opened red and got redder. The selling climaxed when Europe closed and stocks rallied handsomely "off the lows" proving Tepper wrong and the rest of CNBC right (right?) The S&P ramped back up perfectly to VWAP (thank you Michelle) as 330ET BTFD'ers ensured it closed back above the all-important 50-day-moving-average. The Dow did not bounce like its higher-beta short-squeezing cousins and dropped back into the red for 2014. Away from stocks, bonds just kept rallying - but everyone said that couldn't happen - to new multi-month low yields for 10Y and 30Y (-13bps on the week). Commodities lost ground with gold back under $1300 as the USD ripped and dipped to close unchanged on the day. VIX popped back over 13 with its biggest rise in 5 weeks.
Don't forget, Europe will open again in a few hours.
Thanks Michelle...
Thanks to Michelle, the algos ramped all the way back to VWAP
The S&P 500 cash index is down for the week but bounced off its 50DMA for now...
The dump stopped when Europe closed for the 3rd day in a row...
The day in momos...
Dow dumps to red for 2014...
Twice overnight USDJPY was run up in an attempt to sprk some momenum into stocks...
VIX rose back over 13 but did its best to support stocks late-day BTFD ramp...
Bonds rallied once again... to fresh multi-month lows...
Charts: Bloomberg
Bonus Chart: Lots of chatter about how low 'high yield' yields are today and that's a bubble... except that the YIELD does not matter - it's the risk premium that matters and that has been showing notable weakness for a while... yes one can relever (good for stocks, bad for credit) but that only happens at the end of the cycle and corporate leverage is already above its previous peak...
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Thank you Michelle, creative folks are really going to have fun with that picture in the future.
again PIMco .. still not sure http://hedge.ly/1jXiQm1
no one is going to look at your web site. just give it a break.
I'll tumble for you,...................I'll tumble FOR you.
#BlackTitsFeelDifferent
...this is a caption contest... right?
My reply is so big, it won't fit into 140 characters
OK... How many so far??
#BuckToothedFookingDemocrat...
I'll be your huckleberry...
Black Treasonist Fighting Democracy.
BarrysTheFamilyDummy
Not Mooooochelle
Love the pic!!!
I almost sprayed my beverage all over my computer when I first saw the pic.
"BTFATH" or "Is this a Wookie face?" - "Vacation or Bust" - "Bring back our jobs!" - "#1 Big Mac meal upsized!" - "Wanted: Hung black man who likes Women."
Royale with Cheese....
I was thinking more along the lines of "Will work for...", but your last one is appropriate...
I think I've already seen 50 variations on this pic :)
Which causes the less savvy viewers to wonder who writes all of those signs?, as we all know Wookies can't write.
I was banned from a forum for called Moochie a Wookie... They said I had made a racist remark... I apologized for slandering wookies everywhere, but had to remind the mods that Wookies are fictitious characters, so how could the comparison be racist... They didn't buy it as they were all flaming liberals, literally...
FWOTUS (First Wookie of the US) is a most malevolent looking she-beast.
it's UGLY!!!!!
Yeah, she stepped right into that one, eh?
HBO's Veep is starting to look like it's a quasi-documentary now. Scary thought.
Long live Ianucci.
Yikes..... that be one damn ugly wookie..... gag
http://www.youtube.com/watch?v=gvuulZPbfBg
B.uy T.he F.ucking W.ookie
BeholdTransvestiteFooledDemocrats.
WalMart misses and J.C. Penney beats.
Hmm...
BFDT
Mr. B.,
I can only imagine how busy you will be as a result of the Michelle O pic.
I hope you get paid by the hour! :-)
He's exhausted just counting his money!*
He deserves every penny.
No one even comes close to what Mr. B produces.
@WB7
How about the same pic of the wookie with a sign that says, "#ThePrezIsABathHouseFreak"
Boko Haram
Barak Homo
Sapien Sapien
Yeah!
Procol Harum
That is a great song :-)
Best ever. And of course "Disabledvet wins again."
As the only on the record treasury bull going on over a year (ironic all recent things considered) I'm feel in' good in the neighborhood (financially speaking and vis a vis advice.)
Now cue those Honey Badger videos and let's watch...
I prefer this version of that Michelle image:
http://pbs.twimg.com/media/BnJHuEQCcAAAaJz.jpg
Flight to safety?
FUCK YOU, WOOKIE!!! HAHAHAHA
I guess Moochelle's saving the #WTF sign for tomorrow
She exhausted that stack in disappointment the first time Barry dropped his drawers for her.
She should worry about the kids in America who are sleeping on the streets tonight or shut the fuck up.
Most of the stress fractures we're seeing in the world today are the result of electing a community organizer POTUS. Period.
BTBMFD!!!!!! LMAO
BTBMFDMOBUTTHAVEATONOFFUNFORNUTINHONEY. LMAO 2
Buy This Female Dildo?
Line up here for vagina inspections
+1 I was just wonderering if anyone bought treasuries anymore and if so WHY?
Yep...been long for over a year.
And the reasons are mid cycle corrections (both economic and financial) are normative and to be blunt this Administration hasn't had a growth agenda (ala North Dakota.)
What is this? A screenshot from her blacksingles.com account?
And what is BTFD????
Asked my kid and he thought it was - BangThisFatDumper.
No wonder she looks sad.
Don't know why but a Sir Mixalot song keeps playing in my head now.
Don't fight the tape OR the FED.
"She" ??
http://m.youtube.com/watch?v=gvuulZPbfBg
That's a handsome man right there.
Glad he won the EuroVision contest....
I would like to see that sign read: "Will work for food".
#LetThemEatWagu
Stocks down big made me happy, but that pic of Moochie absolutely made my day.
Thanks, ZH, you're the shizz.
Dow Jones had ugly written all over it yesterday afternoon.
http://bullandbearmash.com/chart/dow-jones-daily-falls-support-evening-s...
Yesterday's close said down today. Should continue down. Yellen is going to try to fluff things tonight, but the taper is on.
for the love of humanity, please put that WMD away. and i thought cunt faced yellen was hard to look at.
there is no way that thing was born with a vag. no one on this board can convince me otherwise.
Barry's Thugs Fly Drones
#DoNotRidiculeHashTagDiplomacy
Last post cracks me up.
All the stocks and indexes I follow are still within normal bands and one even closed up a tad after selling down all day.
And there is room - more like demand - for the market to make some inconsequential dips from here over the next 30-60 days.
I don't really follow the momo's much.
I still think this is Janet's attempt to freeze everything in place so I wouldn't consider BTFD to be much of a priority hey you can always BTFATH tomorrow and it's all good.
They'll bring back.... Former SEC Commissioner on Europe Short-Selling Ban.
http://www.bloomberg.com/video/73860052-former-sec-commissioner-on-europe-short-selling-ban.html
Chewie Has Spoken...its best to let wookie win
The "ramp fail" signals are where the big boys were adding on to go short.
A pouting wookie??
Holy shit I need to go wash my EYES!!!
My advice... Let the wookie win.