Everyone Do The Safe-Haven Scramble

Tyler Durden's picture

Always happy to look to the silver lining in markets, amid the total and utter carnage across global FX, commodity, and equity markets, there are a few markets benefiting from the scramble for a safe-haven. Gold (and Silver) prices, after dropping yesterday, has retraced all those losses and is up over $20 to $1215. Even more impressively, 10Y Treasury yields traded with a 2.00% handle (down 8-9bps today alone). Notably ultra-short-term US T-Bill yields have collapsed to zero with the Feb 2015s trading -0.5bps. Bunds are also bid (down 5bps) at fresh record-low yields of 56.6bps! While not a 'safe-haven" per se, JPY is aggressively bid also as leverage and risk unwinds carry trades and squeezes USDJPY lower (briefly touching 115.50).



And Bund yields push to new record lows...


Charts: Bloomberg

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kaiserhoff's picture

That's some gourmet chart porn;)

GetZeeGold's picture



That's some gourmet chart porn;)


Reminds me.....keep your damn hands off the Internet.

zorba THE GREEK's picture

"Order from the Fed to their trading desks"- SELL GOLD_BUY S&P FUTURES

firstdivision's picture

Nothing says "safety" like buying the shit out of Yen...cause Japan's economic performance is outstanding.

spinone's picture

If you're going to panic, panic first.

NoDebt's picture

And I was laughed at when I suggested buying 30 year bonds when they were yielding 3% a couple weeks ago (Or was that days?  Things have been moving fast lately).

Pool Shark's picture



Okay everyone, repeat after me:

Cash, Bonds, Gold.


[Rubles? Not so much...]


Ruble = 73.00/USD . Down another 10.7% today (It was 55 a couple days ago...)

P.S.: Oil = $53.76

ATM's picture

I think you got them backwards. Should be Gold, Bonds, Cash. and then Gold and Cash, Then just Gold.

spinone's picture

and some lead and brass

Dr. Engali's picture

You haven't seen anything yet as far as how fast things are moving.

101 years and counting's picture

watching ES surge right now, you'd think thats the safe haven.  too funny.  this bubble is popping.  and will take a big dive at the open.

SoilMyselfRotten's picture

Picturing my bathtub drain on an olympic size pool

Coldcall's picture

US dollar still reserve currency and that wont change any time soon, so¡reeeee

Greenskeeper_Carl's picture

What do you think the US dollar is? It is an instrument of debt

Stoploss's picture

But. But...

Rates will rise....





GetZeeGold's picture



Stop teasing us......just stop it dammit!

Pool Shark's picture



Yellen: "Don't you guys make me raise rates!" "I swear to god I'll do it!!!

thatthingcanfly's picture

Is anyone else having flashbacks to September 2008, when it looked for a moment like the wheels of the global economy were about to fly off?

Jstanley011's picture

When the geniuses ban short selling again, like they did on 09/19/2008, I will.

ATM's picture

The wheels are bigger and spinning faster now....

thatthingcanfly's picture

...bigger and faster, you say? SWEET! That means more gooder-er!

Dr. Engali's picture

It's pretty bad when 2.11% on ten year fiat is considered a safe haven.

kaiserhoff's picture

the worst fiat,

  except for all the others.

Winston Churchill's picture

Once the Laundry has burnt down, does it really matter which shirt was the  cleanest ?

Winston Churchill's picture

Once the Laundry has burnt down, does it really matter which shirt was the  cleanest ?

max2205's picture

German 10yr is .6%   fear

Dr. Engali's picture

Yep, and it's hard o believe but we will be there eventually.

mattgallis's picture

annndddddd ZH called the top...

Jstanley011's picture

"What's with this busy signal, Janet? Never got one calling Ben! Hello? Hello?? H-E-L-L-O???"

SilverIsMoney's picture

PPT already selling Gold to cap the rally.... Oh well... Me thinks they're gonna have their hands full in about an hour with equities. Bahahaha! Burn baby burrrrrn!

youngman's picture

If you live in one of these countries whose currencies are tanking.....you might be a little scared...in fact a lot scared....I bet Swiss bank accounts are filling fast right now...

Spungo's picture

"Picturing my bathtub drain on an olympic size pool"

Picture a butthole at the Tony awards

scubapro's picture


to my eye, this decline looks very very similar to the october decline.   were about 1/2 of the run off the october low.    muppets need one more good lesson to learn to never ever sell.    cue the ramp, cue the oil stablization, cue the 'rise in rates from 2.00 to 2.1,  get those bonuses locked in boys, 2015 were gonna change directions.



Caveman93's picture

$400 circut breaker needs to be $4,000.

Temerity Trader's picture

The ball is clearly in the Fed’s court. It is up to them to aggressively intervene and restore confidence in the broken markets. If they fail to act quickly, the sheeple will panic and the bottom won’t be reached until Dow 6k-7k, or lower. The true value of the Dow in a no-growth economy, burdened with ever-expanding welfare rolls, is so low that the damage will be permanent. The Fed has “guaranteed the markets and now must make good on their pledges. First by jawboning, then by direct through their proxies, futures and ETF purchases. There is no other way. The ‘New Normal’ requires full-time Fed bank support of asset prices. Housing is coming apart too, and near-nothing down loans are happening again, which completes the cycle. As home prices tumble and people walk-away, it will spread. Car sales are now 95% dependent upon liar sub-prime loans, and nothing down. Do or die time for the Fed bankers.

Baa baa's picture

It would appear the fed has produced sufficient smoke and mirrors while Martha polishes...

I Write Code's picture

So yesterday's buzz that China is dumping bonds, is wrong?

Conax's picture

January 1, 2014 gold was at about 1220, silver at 19.90.

They are furiously holding gold below that line.  It must not show any strength for the year. This is very important to the pricks running the shit show, may they all get the clap.  The fact that China and India are acquiring all of 'our' gold at fire sale prices doesn't matter in the least. The US will be stripped of everything of value and dumped in the alley as the tribe pulls up stakes and heads off for Asia.

Chat_noir's picture

remove that article, its too old.

Silver -4.79%. it will be the next "halted until further notice" market after the Ruble