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Russell & Trannies Give Up FOMC Gains, Bond Yields Tumbling

Tyler Durden's picture




 

This is not what Yellen promised! The Russell 2000 (inching ever closer to its death cross) has plunged today and is now -0.8% from pre-FOMC and negative year-to-date.  Dow Transports have also given up all their post-FOMC gains and Homebuilders have plunged. US Treasury yields have tumbled with 30Y now -3bps on the week (and below pre-FOMC levels). The USD is rising as GBP weakness re-emerges.

 

Russell is weak and Trannies have rolled over...

 

Homebuilders are in trouble...

 

As Treasury yields tumble on the week...

 

Charts: Bloomberg

 

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Fri, 09/19/2014 - 12:56 | 5234688 RattNRoll
RattNRoll's picture

Alibaba bitches......

Fuck the fed

Fri, 09/19/2014 - 13:14 | 5234766 SickDollar
SickDollar's picture

Alibaba and 40 thieves 

Fri, 09/19/2014 - 13:18 | 5234798 max2205
max2205's picture

The bats are flying out of her cunt as we speak....

NY Fed, NYSE ON LINE ONE

Fri, 09/19/2014 - 13:51 | 5234987 Wait What
Wait What's picture

you mean these 40 thieves?

http://www.youtube.com/watch?v=Xx3RUL2MRaw

"don't turn it off I kinda like it"

"i'll take a tube of those 17.87 rounds off your hands... and throw in a few bars for shits and giggles, thank you very much."

Fri, 09/19/2014 - 14:07 | 5235068 QE 4 EVA
Fri, 09/19/2014 - 12:56 | 5234689 ekm1
ekm1's picture

Yellen position is the equivalent of CIA chief position.

 

Yellen's job description is to lie and mislead, same as CIA chief job description is.

 

 

Fri, 09/19/2014 - 13:16 | 5234779 trulz4lulz
trulz4lulz's picture

But how do I know it isnt your job to lie and mislead? This is all so very confusing. Whos' lying? Who is just misleading?

The markets never lie.TM

Fri, 09/19/2014 - 13:17 | 5234789 Dr. Engali
Dr. Engali's picture

I'm lying to you right now.

Fri, 09/19/2014 - 13:22 | 5234816 trulz4lulz
trulz4lulz's picture

HA! I see your wordplay skills my good man! I am exposing myself now! All of this is also a lie.

Fri, 09/19/2014 - 13:27 | 5234854 IndicaTive
IndicaTive's picture

Liar.

Fri, 09/19/2014 - 13:22 | 5234813 ekm1
ekm1's picture

Market = Human made system

 

Hence it is managed by humans

 

Humans lie, hence markets always lie

Fri, 09/19/2014 - 12:59 | 5234701 Grande Tetons
Grande Tetons's picture

Anbody else getting the sense that something big is about to happen? Too many tight springs just waiting to pop.  

I must add that I have been drinking. 

 

Fwiw...my gut is telling me USD weakness. 

Fri, 09/19/2014 - 13:01 | 5234712 Winston Churchill
Winston Churchill's picture

Not hard spirits on your cornflakes . Guinness is best.

The algos aren't making much sense today.System overload ?

Fri, 09/19/2014 - 13:04 | 5234723 Grande Tetons
Grande Tetons's picture

Actually, it was Lucky Charms.  The Leprachan kept telling me to pour him a wee bit more of the good stuff. 

Fri, 09/19/2014 - 13:43 | 5234953 Wait What
Wait What's picture

Lucky Charms + Single Malt Balvenie = Breakfast of Champions

Fri, 09/19/2014 - 13:04 | 5234719 Bangalore Equit...
Bangalore Equity Trader's picture

Listen, no man. I feel like it's "ALL" good for at least a few months out, but then I will reevaluate. Make "HAY", sun is shining.

And yes I had multiple substances but my "OPINION" is cool still but you can understand how it is from my comment.

Fri, 09/19/2014 - 13:05 | 5234726 LawsofPhysics
LawsofPhysics's picture

look, it's impossible to collect a fee (skim) if the "market" isn't moving.

 

chillax.

Fri, 09/19/2014 - 13:06 | 5234728 blacktusk
blacktusk's picture

I think something is just around the corner. In my business, last time sales, phone calls, etc felt as shitty as this it was 2008 and we all know what happened. I honestly don't have any months like this on record except just before and right as is blew in '08. Thank god I have been building up a nice rainy day fund since 2010 so that I can weather this storm that brewing more comfortably this time.

Fri, 09/19/2014 - 13:09 | 5234743 stant
stant's picture

Same here

Fri, 09/19/2014 - 13:11 | 5234749 Grande Tetons
Grande Tetons's picture

 In my business, last time sales, phone calls, etc felt as shitty as this it was 2008 and we all know what happened.

Yep. Ditto. B2B marketing is tough when there are less Bs on the right side of the 2. 

Fri, 09/19/2014 - 13:15 | 5234777 Winston Churchill
Winston Churchill's picture

Apart from my oligarch clients, there is no biz out there.

My printer was saying the same yesterday,slowest summer he's had since 2008.

I have been bidding all summer though, which is unusual here in Florida, but the close rate

is about 10% instead of our normal 30/40%.Sticker shock.

The consumer is dead.

Fri, 09/19/2014 - 13:19 | 5234795 LawsofPhysics
LawsofPhysics's picture

Well, that's odd, we got another record price for our soybeans and pecans...

Fri, 09/19/2014 - 13:26 | 5234843 Winston Churchill
Winston Churchill's picture

Outside of my oligarchs, my biz is renovation of any kind of natural stone or wood.

If the housing market was really booming, that side would be flying, with a 60% discout to

replacing with new.

Everybody has to eat LoP.Comes before refinishing your floors.

Fri, 09/19/2014 - 13:37 | 5234918 LawsofPhysics
LawsofPhysics's picture

do you have a link to that 60% discount?  I could help you out and refinish some floors around the castle.

Fri, 09/19/2014 - 13:55 | 5235004 Winston Churchill
Winston Churchill's picture

Really don"t need the biz right now, but thanks for the offer .

Rule of thumb for discount . We still get a lot of referrals from new floor/stone companies when the

client can't afford to install new one.

Without looking at it, I can't price it.You're too far away anyway, unless you want to spring

for full OTA's like some of my oligarchs do to take us up to NYC, or NJ.

Just did a 10,000 sq.ft pentouse up in the big Apple, client's gulfstream there, and back with

the equipment/techs.I prefer doing their yachts, as they can bring them to me here.

Luckily we don"t need the general biz anymore, but I hate all my eggs in one basket.

Fri, 09/19/2014 - 13:19 | 5234802 Seasmoke
Seasmoke's picture

My Pizza guy, coolest guy around, also been around for 15+ years and great reputation and always busy (atleast i thought so), says he doesnt think he is going to last until the end of the year.....I THOUGHT HE WAS JOKING !!!.....he was NOT joking :(

Fri, 09/19/2014 - 13:28 | 5234860 Grande Tetons
Grande Tetons's picture

There is our recovery. Small business guy who is not a burden to society driven out of business. 

Lots o room on the SS Misery Loves Company. 

Fri, 09/19/2014 - 13:33 | 5234886 Squid Viscous
Squid Viscous's picture

domino's pan pizza, killing it...

Fri, 09/19/2014 - 13:10 | 5234755 seek
seek's picture

Yeah, I've been having "vibe" since mid-August that we're looking at something big very soon. My intuition doesn't tell me what it is, though.

In addition to whacked financial markets, we also have two different potential viral diseases of some severity floating about, and a border so open that a guy wearing an Osama costume just waltzed right across just before ISIS/CIA says they're going to pay us a visit. Globally we've got a continues-to-be-fucked mideast, and of course the Ukraine. Hard to pick just one, ya know?

Fri, 09/19/2014 - 13:11 | 5234761 Lithophiliac
Lithophiliac's picture

Yes, 6 years and counting...

Fri, 09/19/2014 - 13:13 | 5234762 Dr. Engali
Dr. Engali's picture

It's a good thing they are giving us a sale on silver before hand.

Fri, 09/19/2014 - 13:19 | 5234800 Think Like A Crook
Think Like A Crook's picture

For the last 2 weeks I have been sensing something is amiss. Cant put my finger on it, just a hunch. I have no idea what it is though.

Fri, 09/19/2014 - 13:31 | 5234881 Consuelo
Consuelo's picture

Just remember: Don't drink And drive.   Drink While you drive.

 

 

Fri, 09/19/2014 - 12:59 | 5234702 buzzsaw99
buzzsaw99's picture

the po should bield assettes bitchez

Fri, 09/19/2014 - 13:01 | 5234706 Yen Cross
Yen Cross's picture

  Paging Macneil Curry... Where's BAC with another fruitfull Muppet slaying call?

 Just wait until the usdx sells off next week.

Fri, 09/19/2014 - 13:07 | 5234735 LawsofPhysics
LawsofPhysics's picture

"Just wait until the usdx sells off next week" --

 

yep, what's the trade? (aside from exchanging those bennybucks for anything real of course)

Fri, 09/19/2014 - 13:10 | 5234750 Yen Cross
Yen Cross's picture

    I'm kicking myself for not shorting gbp/jpy last night. 300+ pips in 10 hours... Gotta sleep sometimes.

  The usd/jpy is going to slip down the shitter next week.

Fri, 09/19/2014 - 13:16 | 5234784 Seasmoke
Seasmoke's picture

are you actually saying good news for Gold ?????

Fri, 09/19/2014 - 13:26 | 5234838 Yen Cross
Yen Cross's picture

   There's good support @ 1212.60 from December 6th, '13. It looks pretty extended on the daily chart. I don't see any reason why there can't be a nice consolidation, around these levels.

  Even if the usd sells off, you know the paper pushers can still drive it lower though. We see that happen on a regular basis.

Fri, 09/19/2014 - 13:14 | 5234770 Grande Tetons
Grande Tetons's picture

Maybe long NZD/USD. Wait till Monday...IMO. 

Fri, 09/19/2014 - 13:17 | 5234786 LawsofPhysics
LawsofPhysics's picture

..wait.. ...something about something burning holes in my pockets...

Fri, 09/19/2014 - 13:22 | 5234826 Grande Tetons
Grande Tetons's picture

Yen is the expert..hopefully he will chime in. I like the trade..looks good with a stop at around 80. 

Fri, 09/19/2014 - 13:12 | 5234730 jubber
jubber's picture

but it's Friday it always rallies Friday. S&P> 2005 Dow >17250 like yesterdays ATH's hardly crashing is it?

Fri, 09/19/2014 - 13:05 | 5234733 Ewtman
Ewtman's picture

Bond yields are just pulling back from their recent big gains. The long term picture for the 10YR is up, not down.

 

http://www.globaldeflationnews.com/10-yr-treasury-index-yieldelliott-wav...

 

Fri, 09/19/2014 - 13:15 | 5234767 LawsofPhysics
LawsofPhysics's picture

"In other words, a deflationary economic collapse is just around the corner and the 10 Yr will play a central role."  --

Bullshit.  Should this happen, the political class will start losing their heads.   SNAP and medicare basically pay to keep people alive, period.  As it is right now, many municipalities no longer have enough suckers (actual customers) to make up the differnce as the very real costs of delivering those services rise.  Numerous municpalities have tried to shut off water or power, they are always forced to turn the services back on.  Something has to, and will, give. They will print, period, government debt will remain affordable, period.

Fri, 09/19/2014 - 13:18 | 5234791 Bell's 2 hearted
Bell's 2 hearted's picture

nope

 

trend is for 10yr yields to drop lower ... much lower

Fri, 09/19/2014 - 13:07 | 5234740 David Wooten
David Wooten's picture

The Treasury yields have tumbled.  Corporate yields have fallen also but not by nearly as much.  Flight to 'quality'?

Fri, 09/19/2014 - 13:11 | 5234752 Dr. Engali
Dr. Engali's picture

The system needs moar collateral. Another budget busting war should do the trick.

Fri, 09/19/2014 - 13:14 | 5234774 LawsofPhysics
LawsofPhysics's picture

remmeber when the gold spot price tracked the debt ceiling perfectly?  It hasn't been that long since it diverged.  I would be curious to see how oil, priced in gold versus dollars, has done over the last 50 years.

tick fucking tock...

Fri, 09/19/2014 - 13:09 | 5234744 joego1
joego1's picture

Bad news/good news- nothing is moving the market up anymore. It's a grand funk that is settling in on us.

Fri, 09/19/2014 - 13:11 | 5234746 Pig Circus
Pig Circus's picture

It's like everything is being sold to buy into Ali Bla Bla.

Can't wait to see that guy who thought he was schooling Fleckenstein selfie of him swinging from his belt.

Fri, 09/19/2014 - 13:13 | 5234764 bart12
bart12's picture

Trust Janet , she will bring up every stock indices from the grave !

Fri, 09/19/2014 - 13:15 | 5234772 Quinvarius
Quinvarius's picture

No one is going to step up and buy stocks for a decade after this thing breaks.

Fri, 09/19/2014 - 13:19 | 5234801 trulz4lulz
trulz4lulz's picture

Most people dont have hand writing good enough anymore to mail out the bond signatures anyway. It will work itself out man, everything will be fine. Just.....breath and relax.....shhhhh....shhhhhh.....

Fri, 09/19/2014 - 13:21 | 5234811 Dr. Engali
Dr. Engali's picture

I have news for you, if this thing breaks nobody will buy stocks in our lifetime. And there is a high probability that we will be fighting for ou lives.

Fri, 09/19/2014 - 13:34 | 5234901 trulz4lulz
trulz4lulz's picture

Everybody was Kung-Fu ~fighting~
Thunder crash and flash of ~lightning~
Everybody was Kung-Fu ~fighting~ !

-Round 1-
FIGHT!

Fri, 09/19/2014 - 13:38 | 5234923 Dr. Engali
Dr. Engali's picture

I sing that song all the time. My kids think I'm nucking futs when I go on the kung fu attack.

Fri, 09/19/2014 - 13:37 | 5234920 Bell's 2 hearted
Bell's 2 hearted's picture

i will ... if market gets low enough (ie: march 2009 lows)

Fri, 09/19/2014 - 13:24 | 5234833 Bell's 2 hearted
Bell's 2 hearted's picture

at some point corporate buyback mania will slow (likely due to problems in high yield land)

 

at some point corporate earnings will regress back to mean

 

what will you have?

 Stock buybacks magnify profits AND losses (fewer shares to spread across)

 

 

Fri, 09/19/2014 - 13:16 | 5234780 Market Rage
Market Rage's picture

If you're already short, don't be a pussy and cover when they try to run it higher into the close.  Stand fast or add.  Don't let the a$$holes keep you off balance.

Fri, 09/19/2014 - 13:26 | 5234841 Think Like A Crook
Think Like A Crook's picture

Thats damn straight. 2016 Jan Spy puts for me. Will probably lose them in the coming "seize up" though.

Fri, 09/19/2014 - 13:25 | 5234834 FieldingMellish
FieldingMellish's picture

Gold and silver hammered into options expiry. Some NEEDS gold under $1250 and silver under $17.90

Fri, 09/19/2014 - 13:26 | 5234848 Bangalore Equit...
Bangalore Equity Trader's picture

Listen, but listen man. I was over on a competing Indian FinBlog and the OP started a thread talking about trannies and 30 year paper so we went in cuz we thought it might be a goddam 'merican and then the OP's name was Gabriella and we were like "WOW" so we were trying to chat her up some and then she posted "GIVING BJ's TONIGHT" so I sent her some selfies and she said ok we meet in 1 hour then she txt me and said it was a glory hole but I was like what? and when I got there Gabriella was a goddam dude. Kalaikirathu dude. So watch out "FOLKS".

Fri, 09/19/2014 - 13:26 | 5234850 Mesquite
Mesquite's picture

So, the DOW is at yesterday's close...

Time to turn on the juice..

:-)

Fri, 09/19/2014 - 13:36 | 5234916 truth serum
truth serum's picture

Heh, don't ya think that Yellen, being like 'a real life troll', was given the last Fed job like in,"heh guys lets give it to little troll and see what happena,ha ha",they will probably sell it to America's funniest videos!

Fri, 09/19/2014 - 13:36 | 5234917 truth serum
truth serum's picture

Heh, don't ya think that Yellen, being like 'a real life troll', was given the last Fed job like in,"heh guys lets give it to little troll and see what happena,ha ha",they will probably sell it to America's funniest videos!

Fri, 09/19/2014 - 13:58 | 5235013 Spungo
Spungo's picture

Well, I'm a badass Cowboy livin' in the Cowboy days. Wiggy, wiggy, scratch, yo, yo, bang, bang. Me and Artemis Clyde Frog go save Salma Hayek from the big metal spider.

Fri, 09/19/2014 - 14:58 | 5235312 falconflight
falconflight's picture

Russell and Trannies, eewww

Tue, 09/23/2014 - 20:53 | 5249976 varnelius
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