Stocks Pop But Bond Yields Drop On Jobs Data

Tyler Durden's picture

With today being a non-POMO day (more a YOYO - you're on your own), we suspect the spike in stocks following what was by all counts a mediocre jobs print will not last (until that is it has banged 1950 in cash and taken Goldman's targets out). Bond yields spiked and are now 2bps lower... bad news is good news, good news is good news, and mediocre news is good news... welcome to the new normal...



Of course stocks being up confirms the meme that everything is great and the Taper can proceed which appears the crucial thing holding the status quo together now... as Fed's Willaims explained last night - financial stability (rsing asset prices) is as crucial as growth and inflation

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Sudden Debt's picture

I wonder what the top will be :)

Every week I think: it's gonna crash.

And poof! UP AND BEYOND!!

thisisjustarandomusernameicreatedforzerohedge's picture

free monies for all.

the more you have, the more you get.

Say What Again's picture

We're up on 13 of the last 15 days.  And there is still SOOO much cash on the sidelines ready to dive in at even higher prices.

SheepDog-One's picture

No matter how much the gain was yesterday, there's always a line of people elbowing each other in the face to buy at any price.

ilion's picture

The news was mostly priced in as the FX market barely moved, especially if you look at EUR/USD. Recording of market moves during NFP here.

BrosephStiglitz's picture

Wild movements on the gold/silver spot these last few days. Maybe China unwinding, or Goldman Sachs dumping Ecuador's gold onto the market.

Fairly certain that conventional logic no longer applies to these markets.  Incompetent retards who don't know how to read a balance sheet have probably made a fortune in this latest bull leg.

Winston Churchill's picture

Just as well Gideon Kono has our backs here.

hangemhigh77's picture

WE need more inflation.  Prices are not high enough.  Raise Bernanke's speech charges to 500k.  What would the world have been like without him?  Peaceful? 

buzzsaw99's picture

it's (the old) new paradigm

dressguard's picture

Look at the DAX. It's the real indicator these days. Gold turning into antidote. The real thing.

Squid Viscous's picture

what time does Tepper come on today, maybe if we go red on the spx?

monopoly's picture

Boring jobs report. But don't short stocks. Not until this is over. 

NDXTrader's picture

Looks like the Nasdaq wants to go challenge the old 2000 high at 5132. That would be quite a double top

NoWayJose's picture

Even with the taper, stocks are getting a lot of support as money is being hunted across the globe. Russian money is fleeing the US as sanctions target wealthy Russians. Swiss accounts are being shifted as the US goes after tax evaders. Chinese and Japanese are moving money as their fear their own currency bubbles. European money is moving because of negative interest rates. English money is moving because of bail-ins. And Grandma's money is on the move because her bank won't pay her any interest any more.

So where does this money go as Central Banks and governments target savers - into Stawks and US Treasuries!

BeetleBailey's picture


KA-POWIE! Batman talk/action bubble to come.....

SheepDog-One's picture

Looks like Bawnds are about back to where they were, and Stawks of course zombie march upwards as normal every day. M'kay.

slaughterer's picture

Tepper rallies never hold lately.  Give it a week and we will be back below ES 1900.   June swoon.  

Yen Cross's picture

  Look at the German 10 year bund. WTF?

     Germany 10Y    1.358    1.417    1.399    1.332    -0.059    (-4.16%)    13:46:59