Stocks Hit Record Highs As Bonds & Euro Shrug At ECB

Tyler Durden's picture


The most critical asset to be impacted by the ECB - EURUSD - is not reacting and is now actually higher than before Draghi unleashed his mini-LTRO. US Treasury yields are also unchanged - having roundtripped 7bps. But while bonds and FX don't care - Gold and stocks are loving it... Gold is up $10 from pre-ECB and the S&P 500 - at new record highs - is up 7 points.


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Thu, 06/05/2014 - 11:54 | 4826964 khakuda
khakuda's picture

Needs more bubble. 

Thu, 06/05/2014 - 11:56 | 4826997 Headbanger
Headbanger's picture

Another VIX slam pump for equities

Thu, 06/05/2014 - 12:02 | 4827020 NotApplicable
NotApplicable's picture

Sometimes we HERP, while other times we DERP.

Today? We NIRP.

Thu, 06/05/2014 - 12:12 | 4827063 THX 1178
THX 1178's picture

Is it a coincidence that we in America are seeing food price inflation at the same time as equity price inflation? I'm beginning to suspect that even tapering on our side of the pond while belgium untapers for us is going to have disasterous consequences. The whole system is breaking free of the controllers. The collapse is right around the corner.

Thu, 06/05/2014 - 12:25 | 4827113 Say What Again
Say What Again's picture

UPDATE:  The SPX is now at 1938.

The market loves Draghi.

Don't you wish you were all-in on the spoos?

Thu, 06/05/2014 - 12:52 | 4827208 huggy_in_london
huggy_in_london's picture

Ha fool... you could sail the QE2 between what draghi says and what draghi does.  He said a lot, and did very little.  (EURUSD firmly up on the day... nice job)

Thu, 06/05/2014 - 13:00 | 4827236 Say What Again
Say What Again's picture

You don't like my satire?

Thu, 06/05/2014 - 13:05 | 4827251 huggy_in_london
huggy_in_london's picture

I am WAY to stressed today for satire!!!!  Apologies if that is what it was!!!

Thu, 06/05/2014 - 11:49 | 4826965 maskone909
maskone909's picture

this is a nightmare make it stop

Thu, 06/05/2014 - 11:57 | 4826995 PlusTic
PlusTic's picture

don't make the mistake of thinking this is real, it's a manufactured reality.  War, peace, terrorism, stock mkt's all just fantsay being orchestrated by those with the printing presses...

Thu, 06/05/2014 - 12:02 | 4827019 NOTaREALmerican
NOTaREALmerican's picture

Re:  War, peace, terrorism, stock mkt meltups.

Actually, that's all reality.   The fantasy is that it's not reality.

Thu, 06/05/2014 - 12:33 | 4827144 john39
john39's picture

it is real only as long as a certain percentage of the population believes it is real. 

Thu, 06/05/2014 - 12:45 | 4827184 NOTaREALmerican
NOTaREALmerican's picture

Re:  it is real only as long as a certain percentage of the population believes it is real. 

War and the smart-n-savvy people screwing the dumbasses with bullshit is about as real as it gets. 

Thu, 06/05/2014 - 12:04 | 4827030 valley chick
valley chick's picture

You are in the Truman Show and can not leave!

Thu, 06/05/2014 - 12:11 | 4827052 TheRideNeverEnds
TheRideNeverEnds's picture

I was trying to tell anyone that would listen yesterday we were going higher but they all poo pooed me.


Hope the shorts enjoy getting blown the fuck out as this next leg up brings us to 1950 on the way to close out 2014 over 2000.  You may have a chance to BTFD as we pull back from 1950 but I think the longs are getting wise to the fact that there is zero reason to sell anything here.  


Its a foregone conclusion, anyone who thinks this market is ready to turn down is delusional.  Bear markets are a thing for the history books, the business cycle problem has been fixed.  Betting against the central banks capability to print money will kill you on two fronts, capital loss on your shorts and purchasing power loss on your now lesser capital.  


The only correct strategy in this centrally planned market is buy everything and let inflation sort it out.  

Thu, 06/05/2014 - 12:18 | 4827088 Spitzer
Spitzer's picture

You got poo pood on here because this is where we come to talk about reality. Will stocks go higher ? Nobody cares. You have no reason. You are trading on momentum and word clouds from the fed.

Want to talk bullshit, go to Motley fool.

Thu, 06/05/2014 - 12:50 | 4827202 huggy_in_london
huggy_in_london's picture

Perhaps you should study what happened in japan from the late 80s to the 90s ... then come back to me on whether you should just keep buying stocks.  

Thu, 06/05/2014 - 13:07 | 4827230 Squid Viscous
Squid Viscous's picture

ass clown  - we remember your call for 1900 by mid march, you were so sure of it... instead you took about 85 handles in the face... and your bio is really fucking gay, FWIW

Thu, 06/05/2014 - 13:12 | 4827271 TheRideNeverEnds
TheRideNeverEnds's picture

Wasn't wrong just a little early, spoos are fast approaching 1950 at this time.  


Why you mad though?

Thu, 06/05/2014 - 15:23 | 4827703 Flux
Flux's picture

Holy shit, someone on Zero Hedge actually has a clue!

Yes, the Zero Hedgelings are a miserable lot as the market climbs higher and higher. It sort of reminds me of that emo kid who misses out on all the parties in high school. And the sad thing is, at any point they could go to the gym, get some sunshine, be a little sociable and the world would change.

But nope.

Too obsessed with being miserable.


So, why come?

Schadenfreude, motherfuckers, schadenfreude, It's rare to see such a large group of people be so wrong, so miserable, for so long, and with such consistency. It just makes me smile.

I mean, geez guys, even a broken clock is right twice a day!

Thu, 06/05/2014 - 11:50 | 4826966 The wheels on t...
The wheels on the bus are going to fall off's picture


Thu, 06/05/2014 - 11:50 | 4826968 101 years and c...
101 years and counting's picture

speechless.  final blowoff tomorrow?

Thu, 06/05/2014 - 11:57 | 4826999 Grande Tetons
Grande Tetons's picture

I am postless lately. Just enjoying watching the freak show from the sidelines. 

Thu, 06/05/2014 - 12:02 | 4827022 maskone909
maskone909's picture

i have noticed the traffic to the site is down too. i guess thats a contrarian indicator, even some of the zh folks are on the euphoric gravey train.

Thu, 06/05/2014 - 12:05 | 4827038 Grande Tetons
Grande Tetons's picture

Rigged..bla bla down bla bla bla...equties up...bla bla bal....end of world bla bla bla....57 reasons to give a shit..bla bla bla.  

That's all folks.

Thu, 06/05/2014 - 12:17 | 4827080 pods
pods's picture

After a while people don't need anymore information about how they are getting fucked. They just realize it.

I come for the comments and the occasional "Let me tell you bout the negro" story. (that one still makes me chuckle)

If I actually traded stocks I would have killed myself years ago.  I learned quickly, by losing $60 at a church bazaar, that I was not that good at gambling.  Trading today is like playing Calvinball against Calvin.  As soon as you think you win, they change the rules.  I'd rather do things that offer a bit of joy.


Thu, 06/05/2014 - 12:22 | 4827106 Grande Tetons
Grande Tetons's picture

Ha! That is what I do lately...skip the fucking article and reads the posts.  Much more insightful at the micro level and certainly amusing. 

Thu, 06/05/2014 - 12:04 | 4827027 Kreditanstalt
Kreditanstalt's picture

Nope.  This'll go and go and go and go...they're so drunk on cheap leverage and SOOOOO.... desperate for YIELD that they'll all run over the edge of the cliff together...sometime in the futre, when a central banks appears to stumble...

Thu, 06/05/2014 - 12:10 | 4827058 Crash Overide
Crash Overide's picture

Thursday humor?


Does this have anything to do with big banks trading their stocks to each other in dark pools?

Thu, 06/05/2014 - 11:50 | 4826969 SloMoe
SloMoe's picture

So, Tepper bought the tantrum, and is selling the recant. Fucker.

Thu, 06/05/2014 - 11:50 | 4826972 huggy_in_london
huggy_in_london's picture

Its utterly ridiculous... there's not even a downtick.  Look at a 3 minute chart... it never makes a lower low on any of the bars.  I don't know who is buying this cr@p, but its just fierce.

Thu, 06/05/2014 - 11:53 | 4826980 khakuda
khakuda's picture

It is the clasic low volume melt up caused by ever more easy central banks.  Call it building a massive bubble on purpose.

Thu, 06/05/2014 - 12:09 | 4827053 valley chick
valley chick's picture

This is no is a damn boil that has festered and when it pops it is going to be disgusting.

Thu, 06/05/2014 - 13:09 | 4827264 Squid Viscous
Squid Viscous's picture

should have bought when Gartmansiad he was really nervous about the internals, that was about 1875...

Thu, 06/05/2014 - 11:51 | 4826973 newsguy68
newsguy68's picture

Good By America!


“You Are You” Summer Camp Trains Boys To Become Homosexuals

Thu, 06/05/2014 - 11:59 | 4827009 NotAMathWhiz
NotAMathWhiz's picture

Abandon all hope ...

Thu, 06/05/2014 - 11:53 | 4826978 LawsofPhysics
LawsofPhysics's picture

Negative interest rates mean that the fucking mattress is a safer and less expensive place to store your fiat.  the fact that people are not running to the banks to remove their fiat and the "markets" are not crashing simply confirms that most people have no savings and the "markets" are completely meaningless.


There is simply no good solution to scarcity and very little precious time to prepare for what comes next.

Good luck everyone.

Thu, 06/05/2014 - 12:00 | 4827011 Winston Churchill
Winston Churchill's picture

Echoing Denninger over at market ticker LoP.

The game of extend and pray is over.

For what we are aboout to receive may........


Thu, 06/05/2014 - 12:00 | 4827015 pods
pods's picture

I have been trying to ponder this idea all morning.

In a bank:  You know you will lose the amount totalling NIRP+inflation, and there is a chance you may have to bail-in the bank and you may or may not be able to withdraw it when things go bad.  Couple that with the Feds sniffing around if you do try and move it.

Mattress:  You lose inflation and possibility of theft or fire.  You have access to it at all times.  

They really are slitting their own throats, which makes me happy I might add.



Thu, 06/05/2014 - 12:04 | 4827033 LawsofPhysics
LawsofPhysics's picture

"They really are slitting their own throats, which makes me happy I might add." -

Ditto, and hey, silver is still cheap with reasonable delivery times.

Thu, 06/05/2014 - 12:01 | 4827017 NotApplicable
NotApplicable's picture

For many people, banks are nothing more than a bill paying service.

I thoroughly enjoy seeing the $1 balance in my "savings" account.

Thu, 06/05/2014 - 12:06 | 4827036 fonzannoon
fonzannoon's picture

I have asked many people around me what they think of negative rates. all they say is "that sucks". when i ask if that would prompt them to pull their deposits they say "and do what?"

the sheeple will continue to graze even as the blade starts hitting them.

Thu, 06/05/2014 - 12:10 | 4827055 maskone909
maskone909's picture

damn im speachless.  wtf man

Thu, 06/05/2014 - 12:22 | 4827102 disabledvet
disabledvet's picture

The insurance is still good...the money is not.

Governments are bouncing every check they print as we hit "Interstellar Overdrive" on Project Spendicate!


Thu, 06/05/2014 - 11:54 | 4826990 alien-IQ
alien-IQ's picture

If anyone is surprised by this, please put on your dunce hat and sit facing the corner for the rest of the day.

Thu, 06/05/2014 - 11:55 | 4826994 khakuda
khakuda's picture

This day has 200 points written all over it.  No inflation here, move along.

Thu, 06/05/2014 - 11:58 | 4827006 Panafrican Funk...
Panafrican Funktron Robot's picture

Once this soaks in, I don't think the EUR/USD is going to stay elevated.  NIRP has the potential to drop this rate below 1.00, absent a fuckton of additional Fed QE.

Thu, 06/05/2014 - 12:01 | 4827016 Kreditanstalt
Kreditanstalt's picture

Everyone try to cram themselves into the same lifeboat...

Thu, 06/05/2014 - 12:04 | 4827021 Kaiser Sousa
Kaiser Sousa's picture

i totally expected a pro-longed attack on the only 2 forms of real money today pre-Draghi bullshitfest...the move up looks very suspicious..i think i will wait to until right before the open in LondonFraud b4 i hit Apmex up...

just talking out loud...sorry if i bored ya'll...

keep stackin.

ps: r u watching the fucking Dow...fucking farcical. supposedly its becuase Tepper made some meaningless comment????????

Thu, 06/05/2014 - 12:05 | 4827037 NOTaREALmerican
NOTaREALmerican's picture

It keeps going up until somebody big doesn't get paid.   (And I'm not sure what the definition of "paid" is exactly anymore).

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