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ECB QE Reaction: "Disappointment" - Crude Clubbed, Gold Glistens, EUR Tumbles, EU Bond Risk 'Rises', US Treasuries Rally
UPDATE: EURUSD < 1.15 but peripheral bonds selling off
EURCHF is dumping
Initial kneejerk reactions have started to fade but overall Europe is 'positive' as EURUSD is lowerand stocks higher (excepty Germany's DAX which is at the LoD) but Sovereign spreads are higher. Initial exuberance in US equities have been entirely erased. Treasury yields are now lower as gold and silver are bid and crude and copper sold. We're gonna need a bigger bazooka Mr.Draghi...
- SPANISH 10-YEAR BOND YIELD DROPS TO RECORD-LOW 1.465%
Europe positive for now...
Though DAX seems undecided...
US equities' exuberance fades
as Treasuries rally...
Gold and Silver up, Crude and Copper down...
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LOL at the upping from 50 to 60. Are we going to have an emergency uppage to 70/mo tomorrow? Still don't see their QE program lasting if even buying the first PIIGS bond, but hey looneyer things have happend as of late.
Yes they have
DAX falling like a rock now:
http://www.marketwatch.com/investing/index/DAX/charts?symb=DX%3ADAX&coun...
Aaaaaaaaaaaaaand it's gone.
It will be back. The "market" will vaporize when tptb are ready to pull the plug.
What a Draghi
We want MOAR
He who QE's first, QE's best................
paper gold and silver getting capped now as of 9:30am. Seems like 9:30am is the new 8am this year so far...the monkeys are sleeping in a little longer this year before they come out and fuck with things. Maybe they just like to see ZeroHedge post articles about gold and silver doing well first before they let the monkeys out for the beat-down. lol
They're trying to defend 1300 and 18 as hard as they can, it seems. But they're going to lose control eventually as phyzz continues to disappear.
Fuck 'em...BTFD's and keep stackin' the phyzz. It's still on fire-sale and well below the avg. cost of production per physical ounce outta the ground.
So if BuBa is going to be purchasing a ton of Bunds -- their yields will all be negative, and the Finanzamt gets money for free.
I would love to think this will go to roads and bridges, but it'll likely go to the social services programs.
Belichick is talking right now on ESPN. Mentioned deflation 10 times already, inflation only once.
Germany just got its cherry popped.
Up next: 3 way gang bang.
Money shots galore!!
time to invest in a 55 gallon drum of Vaseline......
The one thing we can count on is that the Banksters will keep printing and the Fascist governments will keep rigging until it all blows up.
I would hope that would be soon, except that it will likely cause immense suffering to the non-1%. And possibly a major war, so that there is someone to blame it all on.
SPANISH 10-YEAR BOND YIELD DROPS TO RECORD-LOW 1.465%
That's some funny shit right there. Even funnier is that it is still too high to do anything for Spain except keep its head above water for another year or two.
This is why they absolutely had to do QE even though everybody knows it won't work. They have to bail out all the banks who bought up Spanish and Italian paper to front-run the ECB. Otherwise there would be hell to pay.
it is also a sign that there is no bond market per se. a functioning bond/currency market would see higher yields in the usa, less default risk, and an appreciating currency and arb the hell out of that shit. it isn't even a grossly distorted market, there IS NO MARKET.
+1
"And therein lies the rub.."
Basically, it is handing the banks money. Can they quit with the theatrics?
lulz, they won't be buying those "assets" from the norway teacher's pension fund, that's for sure.
The theatrics are there for the other half of QE, convincing SMEs to keep spending, stay calm and support your clever political masters through donations.
The more interesting dimension for Spain is the Greek elections in a few days. If the anti austrity Syriza gain the votes they need for a far left coalition, it could give impetus to Podemos and the idea that not only can't these debts be paid back, but they won't. Greeks debt is US$414bn, Spains US$1.105tn.
yeah, they only difference between spain and greece is a few years at best
What a F'd-up bankster world. When all the deadbeats can get low rates watch out.
If they really start buying in March, figure that it will be felt in June/July and 1/2 year is gone for EU
Now this QE will give reasons to Fed reserve to stand firm on interest...
The Euro will tank!!
They hope the Euro will tank. They have to keep up with the Japanese in buggering thy neighbor.
Global beggar they neighbor currency war.
Just like the UK, Continent, et al used to engage in furiously back in the 50's and 60's.
Never did the textbook theory spur of exports, create jobs, etc.
See, in practice, theory only works in theory and practice.
AIDS and Sickle Cell Anemia have a longer half-lives that QE
Please Mr D when can I borrow money in Europe at a negative interest rate?
Are you a bank holding company?
euro - dollar 1:1 soon
Whew! Dalla at 93.38.looks like us stocks where expecting to see a baby seal get clubed , but not by a foam bat
These programs used to last a few days at least...now its only 15 minutes...
Double up on the QE drugs Draghi!
Instead of $60 billion/month do $120 billion/month.
US QE 4 will probably be $170 billion/month.
Next bigger Bazookas after US QE 4 :
Euro QE $240 billion/month
US QE 5 $340 billion/month
Larger and larger QEs each time.
as the QEs go around the cirlcle...they will all get bigger and bigger....ECB now...back to the USA next....then Japan again....and so on and so forth we go...its the rest of the world that we have to worryabout..as they quit the game.....
...and the most recent printer will "look bad", while the earliest printers will "look good" in comparison.
It is ECBs turn now...stand in line and then next up !
It is a linked list with top head tied to bottom tail.
It is the 'new deal' for 10-card monty, which card comes up next (the most stale printer) ?
Long Scrooge McDuck vaults... have to put all that fiat somewhere.
Does anyone else find it amusing that these announcements in Europe are timed for the open of the U.S. markets? Or that they "leak" a number the day before and then beat it by a bit?
They market manipulation is so obvious, it is amazing the market hasn't called BS on it all yet.
Now comes the deflation. US QE exacerbated deflation. This is nothing more than keep the ponzi alive until 2016. Unfortunately, they won't make it.
Time.
So when yields can go no lower and bond prices no higher, who exits first? Lessons from Switzerland please...
US does QE 4 soon.
Queen Yellen announces $170 billion/month QE 4.
Japan announces even larger QEs.
Draghi announces $120 billion/month QE.
Then onward to QE 5 with even larger amounts of money.
I know I know, here's an idea. GET RID OF THE FUCKING BANKS AND HANG ALL THE BANKSTERS. It's an idea whis time has come.
If this is the day ‘Faith in Fed’ ends and the omnipotence of the central bankers is exposed as a fraud, then it is time to go short. For the past seven years, nothing has mattered compared to the power of the bankers seemingly limitless money creation abilities. When millions see the bankers are pushing on a string, the party is over. There will be no hope left and fear of losing all that the Fed has handed out will quickly take over. The wealthy will bail keeping their Fed billions, then the rest will panic and follow them out the tiny door.
Banks will continue to try negative rates for savings to further punish savers and try to force more money into the markets. If we are really at that point, we will slide down the slippery-slope of hope real fast. Most shorts have been forced out and the market will have no support.
Or it may just be when everyone has ten I-Phones, Silicon Valley will fail and their massive property bubble will pop, then it all goes…
W T F? How about we focus our attention to REALLY IMPORTANT MATTERS OF THE DAY! All anyone is interested in is DEFLATED BALLS!
Is that what Giselle Bundchen does to Tom Brady, deflated balls?
DEFLATED BALLS...hmmm
Why does no one ever point out that filling balls in a 75 degree
room, then hauling them outside deflates them...
...cuz its cold outside.
They were 2 PSI low. Any "pV = nRT" types out there ?
Insane distractions...but I got distracted.
Soon we will be able to buy the printing machines at WalMart
The People still waiting for a recovery that never arrived. Markets do not exist and the fiat currency will fall into the abyss one by one... The future looks dark
Didn't hear anyone drill down on his opening statement:
That the €60 billion includes EVERYTHING. This is not €60 billion on top of what has been injected.
Did I hear that correctly?????
Round-robin hyper-devalue out of debt.
Get out of the Yen, dollar and Euro. Swiss knew, they did the right thing.
All China has to do is pull a Swiss and depeg from the USD.
All this does is "float" or "finance" (if you prefer) the decadent will never change structures of EU socialism. We gave it to them and de-armed them after WWII to stop the repetitive cruelty and bloodshed. Sad to say, there is NO hope for them or us. Giant debt will only lead to declining purchase power, i.e., you must work harder or fall behind, and there is no way to save for retirement. It is the death of "saving." It is the death of some left over for your future after you pay your present bills. It is death for your children's future - you will never be able to save up to help them get started, whether funds for school or start a business. It is death for small business start-ups .It is a sure thing we will all be debt slaves forever.
Save? Never a better post on the reason to buy physical GOLD and SILVER...
That's it, market bored, needs moooaaaarrr.
Downhill from here.
So, broke, indebted banks/countries are going to loan broke, indebted banks/countries money, using the money that's going to come from other broke indebted banks/countries ... but just a lot more of it this time? Am I reading this right?
Your presentation is both correct and reason enough to vomit.
It's okay, they've pledged your ass and your kid's asses for eternity as money-good collateral.
Gold may well be clobbered if Europe does a deal to de-escalate the situation with Russia which I believe is now being signed.
Whatever. Ask a Russian if he wished he had bought gold a year ago...
Up 100%.
In this financial environment gold will always and forever be golden.
Watch the 11:00 bull - easy spot!
QE is a bad idea that never seems to die. Reminds me of a Simpson episode where Bart touches a hot stove over and over again. Ow,..Ow...Ow...Ow...Ow...
everything down. Nice!
Sell the news! Retribution time draws nearer...
Does any one know of a currency printing machine manufacturer that I can invest in...?
dammit Tyler, spin it harder, it's not working..
Anslem Rothschild: "Give me the power to issue a nation's money, then I do not care who makes the law."
He who prints first looks better today, than those who print last.
Last printers are Zimbabwe'd.