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Since QE Ended, Stocks Are Unchanged, Treasury Yields Down 60bps
Today's extension of Friday's losses has erased all the post-End-QE3 gains for stocks as the S&P 500 catches back down towards the Fed's flat balance sheet. During the last 2 months, however, 30Y Treasury yields have plunged almost 60bps (back below 2.50% today)...
As stocks keep pump-and-dump-ing off the Fed Balance sheet...
Charts: Bloomberg
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Guys, Guys! I have a great idea! What if we tried printing more money?
bonds are telling stocks to "COME ON DOWN"
Always happens.
Like ripples in a stagnant pool.
Bond half the trades workin'.... Come on gold! Giddy-up!
"I felt a great disturbance in the farce; as if millions of voices cried out for a rate increase and were suddenly silenced."
Stocks flat, yields down? Say it ain't so. Shouldn't be a surprise to anyone.
that is what used to happen!!!! now the fed is telling stocks to go up. stop being so reasonable. i thought bannning rational though was part of qe2. better print more zim cash.
The FED printed over $3 trillion dollars out of thin air and handed it to their "primary dealer" banks. Those banks then buy up stocks and lend at 1% to corporations to do stock buybacks and artificially drive up stock prices.
QE3 money has almost run out, so expect QE4 in a few months. Wall Street needs more gambling money.
This entire stock market is a scam !!
AUDIT OR END THE FED !!
The CTRL and P button's have broken on Kevin Hendry's keyboard. The FOMC are currently deciding on which replacement keyboard will allow for maximum CTRL + P useable.
"winning"
How does he do it?
Mr. Yellen is a genius.
I just took a big ole Bernanke but fortunately I had a fresh roll of Yellen, damned turd still won't flush though.....
and, oil is down 50%. Its hilarious listening to these people jawbone and try to call the bottom, same thing they have been doing since it was 85/barrel. I don't know why they get such poor ratings, its hilarious. Ill go long when it hits 25/barrel, thats my bottom, calling it now. Hard as it is to believe, but absent a new war in the middle east, thats where we are going
tink mid 30's - JMFO
What difference does it make?
At the risk of repeating myself, it seems The Beatles provide the best parodies for the "QE is dead" debate:
Yesterday, POMO was such an easy game to play
Now I’ll actually have to earn my pay
Oh, I believe in yesterday
Suddenly, I’m not half the trader I used to be
additionally:There’s a shadow hanging over me . . .
I read the news today, oh boy
Four thousand holes in the Fed’s Taper plan
And though the holes were rather small
They couldn't count them all
Now they know how much QE it takes to stop the market’s fall
What a Pig Circus
I think we've printed enough. We should be good for a while.
... said no central bank ever.
BTFD
QE has not ended.
QE never ended. Complete collapse ahead.
The Fed is learning that talking QE is no substitute for QE. They want the asset bubble to stay inflated, so QE4 will come once the market has tanked sufficiently (I've no idea what 'sufficiently' is though).
YOU CAN TALK ABOUT GETTING A TRILLION DOLLARS, OR YOU CAN ACTUALLY GET A TRILLION DOLLARS TO GAMBLE WITH.
BIG DIFFERENCE.
OK, one platinum coin coming up.
OK, one platinum coin coming up.
pavlov would be proud of bullard
alex, everyone here is tired of your pimped chesey website. give it up.
VE (Verbal Easing) is losing its effect. This should get interesting.,,
What do you guys make of this chart?
Excess Reserves of Depository Institutions chart(Weekly):
http://research.stlouisfed.org/fred2/series/EXCSRESNW?rid=283
Add another Data Series of the S&P 500 at the bottom, after adding it click the Edit Data Series 2(S&P 500), and change the Y-Axis Position from Left to Right.
That should give a nice look of the S&P overlaid over the Excess Reserves.
At the end of QE the Excess Reserves plunged $360+ billion in about 6 weeks. Then magically increased about $300 billion in the next week(week before Christmas). Last week the Excess Reserves again plunged $150+ billion. Tremendous volatility since the end of QE, and somehow the S&P is still hovering roughly 3% from the all-time high.
So just maybe the stoppage of easing has been exaggerated somewhat, with the Japanese CB and pension funds picking up the slack. The ECB is waiting in the wings to help out if the Bundesbank will cave. Anyway not a pretty picture.
My dear old departed mum had the right idea she would say “...why deal with this easing ----, give it an enema and be done with it!...”