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Stocks Close At Recordest Highs As All Central Banks Go All In
Despite the knee-trembling awesomeness of a double-whammy promise of liquidity, US equity markets ended the week on a decidedly down note. The realization that Draghi's all talk (no impact on US stocks) and PBOC's move is not a liquidity surge and has limited impact on the economy left stocks tumbling once the opening OPEX levels had printed. The USD rose notably on the day after EUR plunged under 1.24 on Draghi (USD +0.9% on the week). Despite USD strength, gold rose 1% (as did Silver) on the week, rising for the 3rd week in a row for the first time in 4 months (and the 3rd Friday surge in a row). Oil rose 1% on the week, breaking an 8-week losing streak but Copper prices fell around 0.3% on the week, having given back the kneejerk gains post-PBOC today. Treasury yields dropped after kneejerking higher on PBOC. 30Y at 3.01% had its 2nd lowest weekly close since May 2013. VIX melted down into the close to 13.01. Late-day buying panic lifts stocks off their lows leaving Dow & S&P at all-time recordest highs of all-time ever in history (as small caps closed red).
The last 4 weekly closes for the Russell 2000 are 1173.5, 1173.3, 1173.8, 1173.5
From Draghi/PBOC...
Cash markets were a one-way street from the smash OPEX open...bounced in their nornal Friday afternoon way BUT closed ugly...
On the week... Russell Red on the week
AUDJPY was the driver for US equity's surge... but JPY carry largely uncoupled after the US open...
And gold, Treasuries, and stocks decoupled on the day...
VIX melted down to 13.01 into the close to ensure every index closed green (as Nasdaq briefly trouched unch)
Credit and Treasuries notably decoupled on the week...
Treasury yields fell today after a modest kneejerk higher on the Draghi/PBOC headlines... 30Y yields closed at the 2nd lowest weekly close since May 2013.
FX markets saw major USD strength today led by EUR plunging back below 1.24 on Draghi's jawbone... 4th up week for USD in last 5
The USD strength did not weigh on precious metals which gained around 1% on the week after volatile days on Wednesday (FOMC Minutes) and today (Draghi/PBOC). Oil broke ts 8 week losing streak ahead of next week's OPEC meeting. Copper dropped on the week despite PBOC
Commodities were volatile today, dropped on Draghi, surged on PBOC, then faded after Europe closed...
Charts: Bloomberg
Bonus Chart: HY credit decoupled...
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Fuck them all, the central bankers.
Fuck I just got a brain aneurism from all those charts.
Ha! Nobody cares anymore!
Just keep stacking!
If they keep on this path the only thing you should be stacking is food, weapons and ammo. It's gonna be "The Road" without the cloudy skies.
Obviously I stack all 5 and so does just about anyone else stacking Gold and Silver...
But I gotta be honest with ya I do not see the Mad Max/Road scenario playing out as I find the Soylent Green scenario much more likely...
If the Road scenario plays out death might be the best choice anyway...
How about we just say no.
You have the same misconception that Congress has. If we take out the criminal captains of industry we will sink into oblivion.
I am absolutely positive that we can put these yahoos in jail and still have christmas.
I believe some sherman anti trust break ups of the financial industry to be a good thing.
The era of cooperative (and thus stealthy, and sanitized) devaluation is over. Welcome to the era of competitive devaluation.
It gets interesting now.
+1 It gets interesting now....and I would add more noticeable - like where even the dumbest of sheep start to take notice - where the cost of living increases so much that not even the press cant hide it - stuff starts disappearing - people start disappearing - creepy dark shit. You nailed it - It gets interesting now. They are note even going to hide it anymore.
An who do you intend to arrest these criminals. You and I will be arrested for trying to arrest them and labled terrorists. They control everything. My only hope with the current system is for their pride to cause failure and elite factions fighting against each other(snake eats own tail).
agreed. they want you to think it would be madmax/road... Maybe some areas for a short time... but people want to be normal and will find a way under a new, more sound and stable way.... half full....
but, keep stacking.... those that do will be the "most" stable :)
<------ I feel stupid sometimes for not participating
<------ Only stupid people participate
The stupid people are making money while us "smart" guys have taken years of abuse. Seems fair
DONTCHA just feel warm and fuzzy all overr
After I have four shots of VODKA!!
and the funny part...IT DOESN'T WORK. The world is now Japan style STUPIDITY!
What was that movie where all he old geezers team up to rob the Bank then launder the money in Vegas?
I think that's our Government right now.
chart porn, chart porn, chart porn.......
30 year is where 10 year was at the beginning of 2014. No, really.
Must be time for the 100 year "treasure"-y then.
That would be patriotic
All green for the banksters; red for the sheeple as they gambol toward the slaughter house.
That chart of the last 4 weekly closes is just fucking weird.
It was a weird day all Friday.
A few days ago I got shorter with IRAs and 401K.
Wild weekends.
Get SRTY on Friday's, then wait. (like Gold).
It was a day for the bears-even with the record highs. Gap up was sold off all day-but next week's no volume-may have it continue higher.
http://www.sentimenttiming.com/central-banks-front-center-stage/
Must_Keep_Markets_Up_For_Black_Friday
DXY sitting on 4 yr high ... a slight puff will blow it over 2010's
Slaughterer - you correctly called 2060 a few weeks back. Are you still going to short now?
Probably some fib number he uses trying to find a top or bottom.
"As central banks go all in", how many times have we heard that line in the last 2-3 years...broken record.
Coordinated central bank interventions in the world economy are not sustainable and will not be successful. The unintended consequences, blowback and the excessive bureaucratic wrangling will become more difficult with each successive round of more frequent and exponentially larger intervention, until it becomes impossible. Then there will be a rapid, revolutionary change. Thats the singularity, no real telling whats on the other side.
I can't wait to see what happens next.
Junk debt "decoupled" - didn't this happen yesterday? and wednesday? and tuesday? and monday? and...
Europe hasnt, China hasnt
That central banks can convince people that they care about the economy just shows the lack of critical thinking these days. I doubt they are dumb enough to not know the damage they are doing...Heck, if even I can figure it out Yellen and company must know. It is simply a transfer of wealth to holders of asets and Wall Street, who happen to be concentrated in the top .01%. The idea is to prop up stocks and various derivative Ponzi schemes so the corporate guys can sell their free shares and also get bonuses. When the central banks lose control these guys will then scoop 'em up cheap for the next run higher.
Petrol under $3.00. The stock market at an all time high.
Our lords and masters want us to feel flush when the holiday shopping season begins next week.
If they can only do something about the weather....