This page has been archived and commenting is disabled.

"A Couple Means Two" - Why This Is Important

Tyler Durden's picture




 

Moments ago, after Yellen earlier explained that the Fed may hike rates at any moment, and certainly not only during press-briefing days, she also explicitly, and very unexpectedly, said that the Fed will likely not hike for a "couple" of meetings. And when she was subsequently asked to explain what "a couple" means, she further explained that it means "two." As a reminder, this comes from a Fed chairwoman who had a trial by fire when, fresh after replacing Bernanke, she locked herself in the "6 month" calendar interval. In other words, she knows not to give the market a timing bogey. And still she did so. Which, quite explicitly, means that anything starting with the 3rd meeting, currently scheduled for April 28-29, 2015, and onward is very fair game and the market will be foolish to expect the Fed not to follow through with this warning, a Fed which is already dangerously close to losing all credibility it has.

And another way of stating it comes from Peter Tchir of Brean Capital. His take:

Looks like the April/May meeting could be the date.  3 reasons:

 

1) A couple means 2 - just stated
2) then could host a conference call on a non press conference meeting
3) she said, i keep telling the market what we are going to do, i wash my hands of the market if they won't listen

 

She also does not get about oil as transitory. She is remaining very consistent. Core is what matters. 

 

This is hawkish:

 

Trades:

 

Short treasuries 3 year in particular again
Short front end eurodollar futures
Short equities
Hit any last hy energy bond bids while they remain
Buy IG CDX23 protection (short)

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 12/17/2014 - 16:15 | 5564590 Stoploss
Stoploss's picture

Also coincides with next OPEC meeting.

Rates won't go up then either...

Wed, 12/17/2014 - 16:17 | 5564602 Jumbotron
Jumbotron's picture

Well.....at least we know the date of the crash.....or when the Fed loses credibility.

Wed, 12/17/2014 - 16:20 | 5564610 hedgeless_horseman
hedgeless_horseman's picture

 

 

Parsing Fed Speak is pointless.

Yellen is, of course, Jewish, so we know where she stands on giving testimony under oath.

...we [Jews] find that in certain circumstances it is permissible or even commendable to lie.

Chairman Benjamin Shalom Bernanke also utilized this cultural permissibility when giving testimony to Congress, under oath.

“We’re not going to monetize the debt,” Mr. Bernanke declared flatly...

Wed, 12/17/2014 - 16:21 | 5564621 Usurious
Usurious's picture

WE CANT HANDLE THE TRUTH

Wed, 12/17/2014 - 16:29 | 5564631 Headbanger
Headbanger's picture

Why the fuck are we even listening to this old hag anyway?

And she makes much less sense as any one of the SI swimsuit models would there

Wed, 12/17/2014 - 16:33 | 5564663 Divided States ...
Divided States of America's picture

Dont trust a fuckin thing this j-bitch yellen says....we have learnt from Helicopter Ben and Alan Greedspan that these shills aint in the best interest of the American sheeple.

Old jhag Yellen gives all grannies out there a bad name.

Wed, 12/17/2014 - 16:51 | 5564815 zaphod
zaphod's picture

The FED will NEVER raise rates. It would crash everything.

We are Japan now

Wed, 12/17/2014 - 17:01 | 5564882 Boris Alatovkrap
Boris Alatovkrap's picture

For ugly white hair bankster, couple is maybe not mean husband, can only mean ugly lesbian. Close question, who is butch in couple?

Wed, 12/17/2014 - 17:13 | 5564979 dow jones 20000
dow jones 20000's picture

Ummmm wasn't original Boris' name "Alotovkrap"? 

Wed, 12/17/2014 - 18:31 | 5565465 DavidC
DavidC's picture

How can anyone that STUPID get to be head of the Fed? She's worse than Bernanke and Greenspan.

DavidC

Wed, 12/17/2014 - 16:22 | 5564622 Troll Magnet
Troll Magnet's picture

Come on, HH.  Those people are under-represented in our society.  We need to put more Zionist Jews in control.  They'll fix everything.  And I do mean they will "fix" everything.

Wed, 12/17/2014 - 17:03 | 5564894 Boris Alatovkrap
Boris Alatovkrap's picture

Boris is maybe recommend "fix" each member of bankster class so as prevent no more progeny to dominate world.

Wed, 12/17/2014 - 16:26 | 5564634 Stoploss
Stoploss's picture

" We're not going to monetize the debt " works well with the left wing liberal ladies with oral fixations as well.

FYI  Who new??

Wed, 12/17/2014 - 17:12 | 5564976 teslaberry
teslaberry's picture

after years of being on here, you've now become a full on anti-semite?

 

i see. the jews are the bankers. and they all lie. yes. 

 

please , continue to explain to me about the zionist occupied govrernment, cryptojews and talmudism and fake jews and the illuminati of jews. 

 

hedgeless. that is you.

Wed, 12/17/2014 - 17:42 | 5565191 hedgeless_horseman
hedgeless_horseman's picture

 

 

I'll bite.

Please tell us how, exactly, I am an anti-Semite?

Wed, 12/17/2014 - 17:57 | 5565270 monkeyshine
monkeyshine's picture

I'm curious why you would reference a vague quote from an obscure book you cannot even read instead of the one that everyone knows "thou shall not bear false witness". Besides, in some circumstances it is commendable to lie such as "no dear, your ass does not look fat in that dress".

Wed, 12/17/2014 - 18:09 | 5565338 chindit13
chindit13's picture

You know them thar Jews, teslaberry, like Angelo Mozilo.  Then there was Franklin Raines at Fannie and Stan O'Neal at Merrill.  Oh, Vikram Pandit and Ashu Jain, of Citi and Deutsche.  John Mack at Morgan Stanley.  Tim Geithner and Hank Paulson.  Jon Corzine.  Jamie Dimon.  Bob Diamond at Barclays.  Kerry Killinger at WaMu.  Ken Lewis at BAC, replaced by Brian Moynihan.  Oh, and Bill Dudley of the NY Fed and Brady Dougan of Credit Suisse.  And that Narayana Kocherlakota at the MinnFed.  And who can foget Mohammed El-Arian!

Damn, if not for all of them "J" types, HH and his Facebook Fanbois could have made something of themselves in this life.  Surely you can understand why he's the way he is, anxious to be first poster in articles like this one to spread his gospel.

Wed, 12/17/2014 - 17:55 | 5565264 chindit13
chindit13's picture

Hey Facebook boy, maybe you can help me out here.  The guy who started up the faith in which you claim to be an adherent was of that “lying” ethnicity.  Does that mean all those Gospel things are just lies?  Wow, the cognitive dissonance!

If you’re lucky, those gospels are all lies, because from what I understand, the kind of beliefs and crackertalk you regularly espouse earns you a one way ticket to the place of eternal sub-global warming.  Just in case, I recommend you load up on Coppertone for you and the family, since I assume you’ve “taught them well”.  Don't forget to post some pics of your wife and kids "well done" when you get there.  LIKE!

 

 

Wed, 12/17/2014 - 18:06 | 5565320 Dapper Dan
Dapper Dan's picture

 

It's all Chazakah now.

Yellen’s ascent to the post will also guarantee that, by the end of her first term, Jews will have occupied the Fed’s top post for three decades straight – an unprecedented run of Jewish power and influence.

The chairman’s seat hasn’t been occupied by a non-Jew since 1987, when Alan Greenspan was appointed by President Ronald Reagan to follow Paul Volcker. With the succession of Ben Bernanke in 2006, under President George W. Bush, and now the appointment of Yellen by President Barack Obama,

it’s worth remembering that there is a concept in Jewish thought called chazakah: When something happens three times, it can be considered permanent. Applied to the Federal Reserve, it would suggest an impossibly firm grasp on a degree of power the likes of which the Jewish people have never known.

http://tabletmag.com/jewish-news-and-politics/156146/yellen-at-the-fed

With Stanley Fischer "on deck" it could be a grand slam.

Wed, 12/17/2014 - 16:15 | 5564592 ebworthen
ebworthen's picture

She's telling Wall Street that the next engineered crash/bubble popping and raping of savers, retirees, pensioners, 401K/IRA holders, and the middle class is scheduled for next Summer.

Wed, 12/17/2014 - 16:32 | 5564668 1000yrdstare
1000yrdstare's picture

next summer? we will have WW3 on all fronts by then....

Wed, 12/17/2014 - 16:40 | 5564702 Headbanger
Headbanger's picture

No way the market will hold up that long.

As I said here before..  Buy any and every dream car, truck, boat, vacation, Harley, 1911, 4x4, Sharps 1874, gizmo, hooker, jet plane, tequila and/or scotch you ever wanted on credit before the banks go poof!

PS... I'm going for the Sharps first!

Wed, 12/17/2014 - 16:44 | 5564755 ebworthen
ebworthen's picture

Yeah, I hope the markets don't hold up that long, but look at the last 6 years, and look at the markets right now - up 1.7%-2.0%.

Wed, 12/17/2014 - 16:15 | 5564593 Yen Cross
Yen Cross's picture

  JFC, let's just call this experiment what it really is.   TMJ could be the acronym. (not the jaw disorder)

 { Terminal Monetary Jawboning}

 

Wed, 12/17/2014 - 16:18 | 5564596 Dr. Engali
Dr. Engali's picture

My kids ask me when I'm going to be done pooping and my response always is: "in a couple of minutes". Of course it never happens.

Wed, 12/17/2014 - 16:18 | 5564611 Jumbotron
Jumbotron's picture

I just tell mine to come on in and hang out until I'm done.

 

They don't bother me again.

 

Wed, 12/17/2014 - 16:43 | 5564744 gafgroocK
gafgroocK's picture

"My kids ask me when I'm going to be done pooping and my response always is: "in a couple of minutes". Of course it never happens."

 

I told them once thru the door "as long as it takes till I'm done"

They don't ask me stupid questions anymore.

Wed, 12/17/2014 - 17:13 | 5564984 SmallerGovNow2
SmallerGovNow2's picture

LMAO DOC!!!!

Wed, 12/17/2014 - 18:06 | 5565322 alangreedspank
alangreedspank's picture

"Never" ? You literally are full of shit then.

Wed, 12/17/2014 - 16:16 | 5564597 Bell's 2 hearted
Bell's 2 hearted's picture

"short treasuries"?

 

yeah, right

 

hope you put your wallet where your mouth is

Wed, 12/17/2014 - 18:05 | 5565313 alangreedspank
alangreedspank's picture

If you did this from last january and on, your wallet, like physically, is probably the only thing that remains for you to eat.

Wed, 12/17/2014 - 16:17 | 5564601 Squid Viscous
Squid Viscous's picture

Can I bid $1.98 for two meetings?

Wed, 12/17/2014 - 16:19 | 5564607 Encroaching Darkness
Encroaching Darkness's picture

Doesn't mean a thing - if a Black Swan settles, she'll change her mind in a heartbeat, just like any other politician. Making long-term plans based on a bureaucrat's mumbles is asking for trouble - just don't make any that depend on anything external (keep stacking).

Wed, 12/17/2014 - 16:19 | 5564614 SilverIsMoney
SilverIsMoney's picture

The market will have crashed by then and they'll be talking QE4 because simply "no one" will have seen the crash coming...

We need boondock saints to start hunting these Fuckers.

Wed, 12/17/2014 - 16:34 | 5564670 Haus-Targaryen
Haus-Targaryen's picture

I would love to think that.

I just cannot predict anything re; the ponzi.

I know it will keep working until one day when it just doesn't.

Wed, 12/17/2014 - 16:21 | 5564618 Bell's 2 hearted
Bell's 2 hearted's picture

DXY back near 89 ... hope everyone enjoyed the "weak" dollar ...

Wed, 12/17/2014 - 16:37 | 5564661 Yen Cross
Yen Cross's picture

 Wait for the retrace. ;-) Part of the reason equity markets have been soft over the last week is because of poor macro numbers due to the strong $usd. (exports)

 The Q-4 numbers are starting to come in and companies are quietly scaling back. We're in the midst of not only a currency war, but also, large possibilty of massive regional conflicts.

 Just wait until next spring when Russia and China have their SWIFT alternative running.

Anyone that thinks Russia is hurting is delusional.

 I'm no Putin fan but all the numbers you see are priced in PONZI $usd. He who sets the" terms of trade "values?

 Russia is resource rich and will have access to the warm water ports and South China Sea for commerce. Combined they have formidable Navys' to manage shipping routes.

 

 

 

Wed, 12/17/2014 - 16:36 | 5564690 Bell's 2 hearted
Bell's 2 hearted's picture

yeah, ... definitely in currency war ... don't see it ending anytime soon 

 

not surprised that China mfg PMI came in contractionary (49.5) due to peg to usd

 

imo, only a matter of time before they devalue ... then fireworks (massive short squeeze yen rally?)

Wed, 12/17/2014 - 16:51 | 5564817 Yen Cross
Yen Cross's picture

   Have you been following the chicanery coming from the BLS and various other (U.S.) agencies?

 From an export and trade deficite standpoint, China is much better of than the United States.

 Did you know China has been a "net seller" of UST over the last several months? Yet, UST yields continue to fall.

  I'm no China fan either. I see a bunch of desperate people that are trying to stay away from the long end of a rope...

Wed, 12/17/2014 - 16:21 | 5564619 Just Take It All
Just Take It All's picture

Mr. Yellen:  A couple.  As in "a couple of balls".  Like the balls in my mouth.

Wed, 12/17/2014 - 16:23 | 5564624 Kaiser Sousa
Kaiser Sousa's picture

nothing this fucking MoneyChanger bitch says is important let alone true...

if u havent figured out yet let me summarize for this lying sack of shit...

"THE DOLLAR WILL BE DESTROYED WHILE THE CONTINUED RAPE OF THE 99.9 PERCENT OF THE CITIZENRY IS ENSLAVED AND IMPOVERISHED, ALL AT THE ALTER OF THE MONEYCHANGERS..."

now lets move on.

Wed, 12/17/2014 - 16:25 | 5564630 mt paul
mt paul's picture

a couple means

you can have a 3 way..

Wed, 12/17/2014 - 16:25 | 5564638 Eagle Keeper
Eagle Keeper's picture

A 'couple' used to mean 1 man and 1 woman. Well....

Wed, 12/17/2014 - 17:51 | 5565245 alangreedspank
alangreedspank's picture

That's two.

Wed, 12/17/2014 - 16:27 | 5564644 FieldingMellish
FieldingMellish's picture

I'd personally like to know how it is mathematically possible for the Fed to raise rates at this point. Even 1/2% would blow up some TBTFs including, possibly, the Fed itself. Nope, its too late.

Wed, 12/17/2014 - 17:55 | 5565265 alangreedspank
alangreedspank's picture

Those who believed the same and put their money on it on Jan 1 2014 made 20% returns. Beats all indices.

Wed, 12/17/2014 - 16:28 | 5564645 bankonzhongguo
bankonzhongguo's picture

It does not matter what these people say.

They are liars - professional deceivers.

It's a full time job just to keep their offspring from being shoved into ovens.

Even if they had a material plan and even if their intent were to be transparent, perfunctory or resolute in a meaningful agenda to help common people with common problems, they would simply tell their friends (the insiders) what side of the next big trade to be on.

And there goes the so-called market and an old fashioned idea - real risk and price discovery.

They print the fucking money.

They manifest the very oxygen you breathe.

And they know it.

 

Wed, 12/17/2014 - 16:28 | 5564646 Bastiat
Bastiat's picture

But the dot plot story says they expect lower rates.  Is someone lying?

Wed, 12/17/2014 - 16:28 | 5564650 CerpherJoe
CerpherJoe's picture

Tyler - it's not so much that an increae *will* come in April, but that everyone can be assured it *won't* come anytime prior; and probably not for a long time after that.

These peole are too chicken to do what is right for anyone other than Banksters.

Risk off bros.

Wed, 12/17/2014 - 16:30 | 5564657 viator
viator's picture

I much prefer the invisible hand, spontaneous order, and creative destruction to Fed voodoo.

Wed, 12/17/2014 - 16:30 | 5564659 Black Forest
Black Forest's picture

She meant female couples. So I suspect the 4th meeting in 2034.

Wed, 12/17/2014 - 16:30 | 5564662 Consuelo
Consuelo's picture

Will positive sentiment (consumer-ism attitudes, retail, dining out and house & car buying, etc.), float until May before they meet to launch QE-4...?   I'm getting nervous.

Wed, 12/17/2014 - 16:48 | 5564664 Squid Viscous
Squid Viscous's picture

Nasdaq is up 90 edit: 100, lol what a fukn joke this market is

Wed, 12/17/2014 - 16:33 | 5564665 TeethVillage88s
TeethVillage88s's picture

This is an exercise in Power.

"A couple of Meetings"

She is showing that she holds the power for the Press conference.

She probably has to stay on message for the real powers behind the scene. So the power being exercised is really by the Puppet Masters who are hidden.

Wed, 12/17/2014 - 16:34 | 5564666 WTFUD
WTFUD's picture

As the world teeters on the brink its destiny hinges on the gurgling of an old public whore. NAH!

Wed, 12/17/2014 - 16:44 | 5564751 HowdyDoody
HowdyDoody's picture

"I'll never get used to watching Betty White go from Hot In Cleveland to chairing a press conference for the Federal Open Market Committee."

(h/t lukeeduck)

http://www.sickipedia.org/politics/economics/ill-never-get-used-to-watch...

Wed, 12/17/2014 - 16:45 | 5564765 JRobby
JRobby's picture

I named my Sheep Dog Janet

Wed, 12/17/2014 - 18:51 | 5565553 SheepDog-One
SheepDog-One's picture

I'm dying to meet her!

Wed, 12/17/2014 - 16:48 | 5564794 cdude
cdude's picture

By "two", I'm guessing she meant 2% up on the S&P.

Wed, 12/17/2014 - 16:50 | 5564797 A Fist Full of Fiat
A Fist Full of Fiat's picture

Doh!

Wed, 12/17/2014 - 16:56 | 5564850 Yen Cross
Yen Cross's picture

 Hmmm, I wonder who these "model funds" selling G-20 AAA+ currencies are?

 Norway,Sweden,Finland, Australia,New Zealand ect... These clowns have hedged the potential losses on their ponzi schemes against the returns on the interest rate roll of these countries.

 Look at the massive declines in yield of these countries bonds, across the curve.  This shit is getting real!

Wed, 12/17/2014 - 17:11 | 5564960 SmallerGovNow2
SmallerGovNow2's picture

"a Fed which is already dangerously close to losing all credibility it has."

The fed has not one fucking ounce of credibility WTF are you talking about?

Wed, 12/17/2014 - 17:44 | 5565213 roadhazard
roadhazard's picture

It means Nothing.

Wed, 12/17/2014 - 17:54 | 5565261 exartizo
exartizo's picture

she has no choice but to raise rates and "reload". the Fed has its back against the wall and is vulnerable.

If another massive Lehman Event comes along the Fed would be powerless without interest rate control.

Wed, 12/17/2014 - 18:09 | 5565332 modric
modric's picture

I keep hearing this argument but how far are they realstically going to get before it all comes crashing down again. 1/2 a percent. Is that going to help when the next even bigger "Lehman Event" happens. I`ll be interested in your response.   

Wed, 12/17/2014 - 18:54 | 5565562 SheepDog-One
SheepDog-One's picture

I'd probably end up in the ER laughing when Draghi Yellen announces a .01% rate raise.

Wed, 12/17/2014 - 18:23 | 5565414 SickDollar
SickDollar's picture

we got a date now for the crash lol

what a fucken game they are playing

Wed, 12/17/2014 - 18:46 | 5565528 scatha
scatha's picture

What tapering? What tightening? It's ALL PROPAGANDA. Japan printing, China printing, Europe will spill sewage enormously in January and FED is only teasing unintentionally talking dollar up unleashing flood of beat up and abandoned US capital, at fraction of its value, back home for burial. Remember, there are no separate CBs there is one Holy Global Banking System (HGBS) created to defend world fiat Ponzi schemes which preclude even existence of "Free" markets.

Wed, 12/17/2014 - 18:49 | 5565539 SheepDog-One
SheepDog-One's picture

Peter Tchir- Hey you put your money on it hotshot.

Wed, 12/17/2014 - 20:15 | 5565918 djcando
djcando's picture

Like listening to Yertle the Turtle deliver an economic outlook.  When did we actually start listening to these a-holes?

Wed, 12/17/2014 - 20:31 | 5565984 robnume
robnume's picture

The Feral Reserve System has credibility? With whom?

Wed, 12/17/2014 - 21:13 | 5566151 Clesthenes
Clesthenes's picture

Why trust any declaration from the Federal Reserve?

After examining actions of the FR during December of 2007, one has to come to the conclusion it has been captured by thieves, idiots or both.

Let’s look at some relevant facts: at the time in question American banks had some $41 billion in total reserves: about $9 billion on deposit with the FR and the remainder as “vault cash”.

During the week ended Dec 5, the FR sold exactly $5 billion of Treasury securities in a single transaction.  The market had to pay for these securities with currency, bank reserves or expired repos (plus one or two other minor options).  As it turned out, banks had to borrow $3 billion from the FR to offset what the FR drained by the sale.

The following week the FR sold another $5 billion, exactly, and, as a single transaction.  Total borrowings by banks was bumped up to $5 billion.

The next week (Dec 19), the FR sold $15 billion; bank borrowings: $25 billion.

Now, if you are tasked with maintaining a stable currency and calm in the banking system, these sales of Treasuries were inexplicable, to say the least.  And they lead to the question, ‘When did crooks and idiots capture the FR?’

This sequence of events went without notice by the main stream media and most financial observers; which is most alarming; for, the securities sold by the FR were also earmarked AS COLLATERAL for issued Federal Reserve notes, the scrip you and I carry in our pockets.  These actions of the FR eventually resulted in a situation where issued currency was only 54% collateralized (April of 2009).

 

What are we supposed to think when those trusted to safe guard the gold (Treasury securities), instead, dispose of it? 

Wed, 12/17/2014 - 23:06 | 5566588 Golden Showers
Golden Showers's picture

In another universe, Janet and Bill would have fallen in love, quit their carreers, saved the human race from their presence while they hammocked lazily together on a galapagos. But in this universe we get... we get... the government we deserve.

Wed, 12/17/2014 - 23:08 | 5566589 Golden Showers
Golden Showers's picture

In another universe, Janet and Bill would have fallen in love, quit their carreers, saved the human race from their presence while they hammocked lazily together on a galapagos. But in this universe we get... we get... the government we deserve.

Do NOT follow this link or you will be banned from the site!