This page has been archived and commenting is disabled.
Buyers Focus On Dollars, 30 Year After Fed, Stocks Shrug
Stocks slid slowly lower into the FOMC statement, then tumbled as no matter how hard talking heads tried they could not find a silver lining in the hawkish tone reflected across near universal sell-side confirmation. Stocks tumbled, commodities tumbled, and the USDollar surged but the Treasury curve flattened dramatially as 30Y was well bid and the rest of the curve offered (2Y surged higher in yield). The last few minutes saw the ubiquitous levitation to VWAP which lifted Small Caps briefly into the green briefly and stocks all ended higheer from the FOMC statement. By the close, the USDollar was up notably, stocks lower, gold down 1.5%, oil up over $82, and the Treasury curve flattened dramatically (5Y +8bps, 30Y -2bps).
S&P ramped to VWAP...
"Off the highs" to start, dump'n'pump on FOMC, sellers resumed on hawkish tone then rescue bid lifted stocks back to unch...
Post-FOMC, stocks dumped and pumped...
Financials were the big winners post FOMC... homebuilders not so much...
Credit markets were not playing along with the equity exuberance in the last few minutes and financial stocks remains wildly optimistic compared to credit...
HY credit didnt bounce and is not buying it...
The USD surged on the FOMC statement...
The long-bond also rallied notably (30Y yields dropped 6bps on the FOMC) and flattened...
Quite a divergence post-FOMC in the Treasury Complex...
This was the 2Y Yield's biggest rise since Dec 2010 and all as Speculative short positioning disappears...
5s30s collapsed back to catch up with stocks in the oddest decoupling we have seen in a while...
Commodities all slumped after the FOMC, led by Gold...
Silver was the biggest loser post FOMC but all fell...
Charts: Bloomberg
»
- 7055 reads
- Printer-friendly version
- Send to friend
- advertisements -
Whomever is levitating to VWAP at the close take a couple of days off would ya? thx
No way man, that is the trade of the day, vwapalooba baby.
If you are big, and you are short in the day, or hedging alot of stuff, t-WAP is an easy way to slowly deflate the book.
Just ride the wave back to the shore.
What do you ZH's think, is the 10 year moving lower or higher and why?
Nothing like higher rates to help the moribund housing market... wait...
Efficient markets.
Anyone wanna take bets as to when the market goes into QE withdraws? I'm going to say it starts shaking by Friday of next week.
"Come on man! Just one mo Pomo and I'll be good, I'll be clean after that, just one mo! I needz it..."
just another day in the shit show, fka the "markets".
Another day, another victory for the super elite.
Who needs QE when everyone is still lining up to buy your toilet paper (starting with you, Belgium)
Here's the silver lining
http://inflation.us/us-mint-american-silver-eagle-sales-set-new-october-...
Post-insane... no use trying to understand it anymore.
If I wuz a bettin' man, I'd bet Draghi fires up the printer by Thanksgiving .. just a wild hunch.
Nah, the Germans want stronger euro, fuck the rest of Europe. They've already sued the ECB. Austerity is still the only game in town in Europe.
Dow 17k + Ah due to more buybacks this time from Visa, triggers a further ramp up in USJPY
Commodities!?
More like commodeities!
If you like buying gold at 1200.00 you will love it under 600.
or under 400 as it used to be throughout the 90s
The key to happiness in life is short stocks and long penises.