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Europe, US Stocks Slide: 10 Year Bid Back Under 2.50%
10Y yields are back below 2.50% and the entire Treasury complex is flattening (erasing post-GDP losses) as fears over Catalan independence and Hong Kong protests spark safe-haven buying around the world. Gold is up, back over $1220 (pre-GDP levels) and Bunds are well bid yet the USD is fading modestly this morning driven by EUR and JPY strength. European periperhals bond risk is on the rise and stocks are mostly lower with Germany's DAX back below its crucial 50DMA. US equity futures are all red - retracing the entire Friday mini-melt-up in the afternoon (and catching back down to credit reality).
US equity futures have erased the late Freiday meltup gains and are back at pre-GDP levels...
They tried their best to rally stocks with some USDJPY momo...
Treasuries have erased post-GDP losses and 10Y is back under 2.50%
USD is losing steam this morning...
Gold has broken back above pre-GDP levels...
European stocks are weak, as the DAX drops below its 50DMA and into the red year-to-date...
Charts: Bloomberg
* * *
As FTN noted, Financial markets are becoming more sensitive to their own price reactions and leaving fundamentals to the side
Trading isn’t thin, but it remains confused across the key markets.
Only currency moves have clear explanations on most days, while stocks and bonds produce the answer ‘because’ to the daily question of why did they go up or down”
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Feels very manic to me.
<When do they pull the plug and flush this puppy?>
In the wee hours of the night while you're sleeping peacefully dreaming of retirement after seeing 5 years of positive 401k statements.
They said if you can't wait till near March, you might need to have your head checked.
so, when people stand up for liberty, the equity markets are spooked and there is a flight to "safety" in the debt ponzi/imperialist UST? wow, says a lot about the curent structure of humanity.
Ah, now Manic Monday is going to be in my head the rest of the day. Thought we would wait until 10/1 to get moving. Not looking like it so far. The lower; the better.
Fears over Catalan independence? Seriously? Where have I heard this some old song and dance before?
Yeah, gold is up or at least until the London p.m. fix is in
This is nothing more than good old fashioned correction; letting the air out so to speak. And it will be quite the woosh down for a bit.
Then there's November where we will all be assured Democracy has worked again! Which we all know is a farce; which is why Hong Kong is so vexing. ;-)
"10 YR bid back under 2.5%"
Not for long... 10 YR yield getting ready to rocket...
http://www.globaldeflationnews.com/10-yr-treasury-index-yieldelliott-wav...
No way. not as long as this is here:
http://www.bloomberg.com/quote/GDBR10:IND