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Stocks, Bond Yields Drop After Rosengren-IBM-Oil Triple-Whammy
As futures opened last night, it was all looking so bright as the 'rebound' extended and every knife-catching "in it for the long-run" manager was proved 'right'. Then Eric Rosengren pissed in the punchbowl - explaining QE will end in October "unless somethinh dramatic happens" - somewhat taunting the market to crash to ensure the Fed keeps the party going. Markets leaked lower and then came Big Blue which slammed futures lower. Oil prices are falling once again this morning, ECB's bond-buying was a disappointment, and USDJPY's fundamentals hit an air-pocket. Having retraced perfectly 50% of last week's losses, the S&P 500 is fading at the open...
Rosengren started it... IBM didn't help...
and Oil weakness is not helping...
Treasury yields down 2-3bps...
Of course its all about fun-durr-mentals....
Of course, it wouldn't be the HFT-dominated US equity markets without a morning ramp to VWAP (enabling all those institutional sellers to get out) - but once again bonds and carry ain't buying it...
Charts: Bloomberg
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I will be waiting for Rosengren to say we need more QE in say, a couple of days. Fed bastards
timed the bottom again perfectly, Tylers
So people are using Gartman to time the tops and ZH/Tylers to time the bottom now??
BTW, this morning rebound aint gonna hold imho.
over a b of POMO today and tomorrow, in this thin a market, with APPL on deck tonight, i think today is modestly green (unfortunately). I expect APPL to puke in the punchbowl though....
Very thin market but the sheep are being herded where they need to be for fleece collection.
Only one I'm seeing down right now is the Dow, thanks to it's heavy IBM weighting. RUT, treading water.
Hmmm, time to throw IBM under the bus and kick them out of the DOW.
Absolutely. The Dow is the biggest actively-managed passive index in the world.
It is clear the Fed has no idea what it is doing. They are acting like a skitzo............
I use to think they were making it up as they went along, now they just seem corrupt and incompetent.
You're right, and I don't know how they can claim "guidance" with a straight face in this scenario.
That is why Gramma Yellen was installed. You can't verbally punch an old lady now, can you?
Well..I think we could make an exception in this case.
Define 'lady'...
I disagree, I think they know exactly what they are doing and the key word in your statement is "acting". Look at what they have accomplished , The cost of borrowing to .gov is virtually nothing, they've shaken out a lot of speculative positions by jawboning, and they drive the "market "higher by luring in shorts with their "skitzo acting". The merits of the fed are another discussion, but to me it's clear they know exactly what they need to do to advance their,an their owners, agenda.
I agree with you that they know exactly what they are doing. Unfortunately what they are doing is going to implode at some point, just as every other bubble blowing scenario in history has. That can is getting pretty dented.
Just to clarify, many equate "knowing what you are doing" with doing something successful. Unfortunately, what the Fed is doing will not be successful when all is said and done. The ultimate implosion of the latest bubble will be spectacular and they will not be able to control the aftermath. Reality will set in, it's just a matter of time. They are buying time, but each round is having less and less impact. Debt continues to grow at a much faster rate than economic activity. It cannot go on forever. There is no perpetual motion machine to come to the rescue.
Wow its almost 10am and still no article today about how the end of the world is here because 3 people have ebola?
get it together tyler's i need my morning entertainment!
Heh, Fox was saying that the Nurses BF was showing symptoms, they must have the only source as I don't see it being reported anywhere else.
Fuckin' spot on bro.
Im not even getting any meaningful ad banners this morn.
MOAR FED WHIPSAW BIRTCHEZ
unless something dramatic happens.
i'm sure the above statement is in reference to unemployment. [/SARCASM]
We opened green so we'll definitely close green, ppt should be able to handle that.
You cannot concentrate upon the US Economy to determine what actions the FED will or will not take. The FED is much more an international organization than the CFR. While America is economically weak, the US Dollar still rules the world. It rules the world as a political entity and operates in clandestine ways to support various political aspirations around the globe.
Money creates everything political, and everything created politically requires more money. Money creates nations and sustains unpopular and popular political groups which favor the whims of the central committee of those who orchestrate the missions and favor the positions of various groups who may conflict in ideologies, but consume assets or oppositions which create vacuums which must be filled with money or power at the discretion of the void-fillers.
The facts which reveal themselves via charts and graphs data sourced in business transactions or financial requirements are the marionettes dancing to the strings being pulled. Those strings represent the true missions of the FED and all central banks, because all central banks are merely branches of the FED.
So, what are the whims and visions of the FED? What are the aspirations of the FED vis-a-vie the world stage and its role as king maker? In a nation of political correctness and identity politics, suborned to international law by its Supreme Court, it is unreasonable to assume ethnic and foreign alliances do not have a heavy hand upon the levers of money creation and distribution.
The gaming table of the FED is the intricate intertwining of trade agreements and military alliance support treaties, which make up the mosaic of the fabric woven by those with influence upon the FED, if in fact; not direct involvement.
One cannot imagine oneself as capable of foreknowledge of the whims and thoughts of the persons who make up the FED. Further, because one cannot attend the debating sessions where policies are made, there is no way to know who the power personality is and the agenda embraced by that entity.
One can only assume and therein is the rub. We assume based upon what we are told and they operate upon that which is hidden.
I am not saying that it is bad (I don’t believe it is good), I am just saying that it is unknowable.
When the very name of an organization is carefully orchestrated to deceive – it is not a positive beginning.
As the money comes out of stocks to buy the bonds that QE had been purchasing, the pain willl be too much for many to bear for thos highly leveraged.
Those long AAPL may want to gurd their loins https://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=Logarithmic&chdeh=0&chfdeh=0&chdet=1413835200000&chddm=26979&chls=IntervalBasedLine&cmpto=NYSE:IBM&cmptdms=0&q=NASDAQ:AAPL&ntsp=1&ei=dhRFVKXaFouMqQHDmYDoCg
I don't get the infants that come here only to whine and squeal over ZH like suckling piglets.
Listen, if you want your warm-milk-masturbation don't come to ZH, go to Marketwatch or something.
QE NEXT (ie. QE 4 or is it 5) = Fed directly buying shares of IBM, GOOG, AAPL, TSLA, NFLX, AMZN, FB, BABA, and TWTR.
Not one but potentially two playable moves upcoming but I'm such a big dummy with this shit neither will probably happen.
Intervention can change everything full caveat as usual. If no legit action above 1895-98ish then target set at 1800ish. From there a momo-monkey party to 1900ish. Jawbone/literal scam intervention needs to push it above 1925ish to keep the dream alive. They know this fwiw.
it would be qe infinity. Or a need to change the name.
syntax-how do you know the fed is buying stocks directly? probably indirectly but not directly.
Fed now assigning members hourly appearances to go out and good cop-bad cop this shitshow market until every last penny has been steamrolled.