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S&P Tumbles 15 Points At Open, Erases All ECB QE Gains; EURUSD Opens Below 1.1150 As Traders Seek Safety Of Swiss Franc
Equity futures markets have opened with a flush lower as Friday afternoon's anxiety was proved correct by the Greek vote this afternoon. S&P 500 Futures dropped over 15 points at the open before bouncing back modestly. With FX markets now more fully open, the kneejerk moves in the early illiquid trading have stabilized. EURUSD is 65 pips lower, breaking below 1.1150 (with BNY Mellon suggesting a move below 1.10 is possible in the next 24 hours and Citi noting any further risk-off contagion could be satiated by ECB QE). Swissy is bid with EURCHF down over 40 pips at around 0.9820. Gold and USD/JPY are flat for now.
From the Press Conference time of ECB QE announcement, Dow and S&P futures are now lower...
S&P 500 Futures have erased all post-QE gains...
And EUR weakness continues with Swiss Franc strength...
Charts: Bloomberg
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Asian session trading is usually boring but this one promises to be full of all sorts of f*ckery
With Greek election results, at least things will be interesting this week.
The Euro is worthless, seek safety in Drachma, Ruble and Yuan.
wait til they run for the only real safe haven
Bitcoin's day will come.
Soon the bitcoin hedgers will need to sell to cover their shorts.
Or the Fed will do QE just because they hafta because Europe did it and we can't have a strong dollar now can we. Bad for imports - the United States Treasuries market especially..
It's not easy to explain why, but this will bite much more in Europe than a low dollar would in the States.
Here's a start. Europe is overcrowded, not self-sufficient in food, energy, or much of anything else, and taxed up the wazoo. There is less small business and depth of field. Socialism drains a nation's reserves, in every sense.
The tyrant class will have their hands full.
Inflation everywhere
Long gasoline.
Bankerism (fascism) is much more dangerous than a mix of free market capitalism and socialism, and much more closely associated with the current fuckupedness of Greece's economy. See Iceland. Much more socialist than the US, but doing quite well since telling the bankers where to stick it.
Oil prices are getting CLOBBERED.
That says to me QE has either a) already failed or b) was meant to fail to begin with.
Russians start launching Buks into Poland?
I wish the UK had let the banks go to the wall in 2008. It would have been bumpy, but we'd now be clear of the AngloZionist ponzi game.
Short euro, long danish krone to break the peg. That would be fun. Other than that, Swiss Franc, NZD, AUD, SGD, as well.
I heard a strange noise in the back room today...where the safe is... I chambered a round and carefully crept in. The noise was coming from inside the safe! I wheeled the dials, disarmed the CS bomb, and found...the yuan and ruble notes were rubbing up against my silver bullion! There were small, naked little silver bars near them! I am happy.
Bubbles knows:
https://www.youtube.com/watch?v=V8OdraGalY0
Profanity is a very expressive part of language, so please stop fucking censoring yourself.
Profanity is the crutch of inarticulate fuckers.
Everything is going swimmingly and it'll only get better as Draghi starts handing out free money to his banking buddies. Of course this, likely everything else was unexpected.....
ah the wonders of almighty fiat garbage...
drinks on me ya'll...
ps: buying more Silver in 5,4,3,2.......
Gold's not so flat in Euros, is it?
It’s insane right now!
Not only did the price jump 20%, premium are going nuts also and delivery times are now at 4 to 6 weeks minimum.
And I bought a large chunk of US stock that are all down but I’m in a very nice profit just because of the euro drop which is kind of weird to see in my account.
4 more weeks is my guess and than it will turn unless the Fed steps in early so every meeting needs to be watched.
And I also saw that the oil sector in Europe is rebounding and I tought it would be so everywhere but it’s actually rebounding because for US oil prices are going up over 10% currency wise dispite of the price in dollars right now.
So that will hurt the American production even more.
And that’s exactly why Russian oil firms are way more stronger than most would think because their currency is also down 50% so for Russia... in their case, nothing changed and oil is still at 100 dollars from their perspective!!
It’s actually American oil only that is targeted right now! And now the rest of the American industry is experiencing the same thing!
This euro drop and other currency drops will kill the reserve currency’s homebase!
SO THE SANCTIONS MAY NOT BE MADE BY AMERICA BUT BY RUSSIA ITSELF!! TO AMERICA!!
The Captian of the Titanic just spotted the iceberg and issued the order hard rudder starboard. The engine room has gone into fire drill mode as they attempt to reverse the starboard engine and go full steam on the port engine. Engines are beginning to shake and equipment groans from the strain exerted. The Titanic has entered into a state of maximum exertion where a crank shaft could easily shear in half as they do everything possible to avoid the iceberg. Wait for it...59, 58, 57, 56, 55, 54, 53, 52, 51, 50, 49.... Somethin' tells me this is gonna end badly!!
Yes, and I tought it would be bad for the Eu but it’s destroying the US bigtime.
And now I also understand why a strong dollar will destroy it’s reserve status, because why would you buy anything that keeps getting more expensive in dollars when you can only sell it in euro’s for the same price as you could also bought it in euro’s from china for example?
If you buy it in e’s you make a bigger profit, in dollars, not so much.
And that’s also the reason why a reserve currency needs to constantly devalue to keep it attractive.
By becomming stronger, it completly loses that edge.
SO?
QE4 AND 5 COMBINED IN THE NEXT FEW MONTHS TO LOWER THE DOLLAR!!
THEY HAVE TO OR THE DOLLAR DIES!!!
And if they do that, they also risk a to big of a devaluation so it’s kind of russian roulette right now in the Fed’s camp
Gold and Silver in each chamber.
HELL YEAH!!!
I JUST ORDER AS MY AS WHAT MY PRIVATE ACCOUNTS COULD JUST CARRY!!
It’s just freakingly weird to see the euro drop so hard!
Look at the euro dollar chart from november till now! Carnage!
I just want to keep as little as possible euro’s as I need to.
And I don’t want to add extra dollars and US stocks either because that’s becomming risky also and I already have to much exposure in those already
Algore, Vampire:
I will tax and then tax more!
Suck on this, Commie Bloodsucker:
Ahhh! A gold and silver cross!
J Willie: the dollar will gain and then really gain, and then Blow Up!
Titanic analogy? Steerage (middle class) got sccrewed big time. The rich (first class) seems to have a fighting chance.
Pass me the brass polish please.
Dad! These Ferns float!
Great, Junior! Push them into these pillowcases, you and your Mom and I will float to safety!
Canadian high cost tar sands and Venezuela high costs tar sands are being tageted as well.
Venezuela is in better shape now but due to the political mess I wouldn’t tought it at all.
And tar sands... maybe I’ll buy those when oil is back over 75 or 80
But in general, any oil company with a payroll paid out in dollars is fucked.
"Under my Administration, America must have to cease to exist!"
uber fucking bullish for equities as per usual
The only .gov authorized, true measure of inflation.
annuit coeptis
did you mean anal coitus?
No worries, US corporate profits will be fine after losing 20 percent to currency devaluations in Japan and Europe. China who is also pegged will be quite happy too. And then you have the emerging markets who are getting fucked by having to purchase dollars as their currency plunges.
Sarc muthafuckin off.
PS German and Japanese 10 year at .36 and .24 respectively. That is just stoooopid.
It is stooopid. But if I could get that for a mortgage rate, it would be happy days.
It is stooopid. But if I could get that for a mortgage rate, it would be happy days.
If I could get a martgage at that rate then I would not need the mortgage in the first place.
Good point Tom,
but I don't know if any of this is stable enough for us to plan and build a dog house;)
Nothing that another $18 Trillion in debt can't fix, for a while longer.
Meanwhile, people are paid less and working more, paid nothing for saving, charged more for nothing (ACA), while they are stripped of rights, liberty, and dignity.
Welcome to the New Feudal World Order.
PMs get smacked on Globex open... just for good measure.
Here we go... better late than never.
right now, she's climbing...
I see they are trying to pump the fuck out of USD/JPY before futures open. From -0.27 to -0.05 in 15 minutes. Because nothing says risk on like multinationals profits cratering 5% in a week
Peg, it won’t come back to you
The CHF peg, it won’t come back to you
Then the QE falls
You see it all in 3D
It's your favourite foreign currency
As the euro-zone and euro disintegrate, the USD, treasuries and yen are sure to explode higher as people flee the sinking ship.
"Too many people want Treasuries," said Don Ducat, Fed spokesman. We are going to negative interest rates to discourage purchase for a while."
so who is next in line to capitulate?
by my count:
ECB
Denmark
Switzerland
Canada
Greece
What do you mean by capitulate? Canada doesn't have a peg.
from Merriam-Webster: "to stop trying to fight or resist something : to agree to do or accept something that you have been resisting or opposing" or "to cease resisting : acquiesce"
Canada joined the currency wars last week.
https://www.youtube.com/watch?v=o1tj2zJ2Wvg
My new quote: "Bulls make money, bears make money, Peg get slaughtered"
© Panic Mode
Money is running into francs and dollars so the two nation-states that have the best currency to buy gold with are the US and Switzerland. China doesn't mind either with their currency pegged to the dollar. Too bad for Europe and Russia, their currencies are taking a beating from the ugly stick.
The ECB should have printed $100trillion! Maybe that would have saved them another month. When default is announced, official, and a done deal, then what happens to the unpayable CDS? I for one can't wait for this little episode to play out. How high will the USD go? I can't wait to see.. I'm betting the Fed is shitting its underwear right about now..
better btfd before it's too late. green before dawn.
whoop-de-do. S&P futures are climbing right back. Funny how zerohedge writes these posts and within minutes make fools of themselves.
Way to be an idiot.. You're assuming that nobody has any interest in fraudulently buying up the other side of the trade to try and put a tourniquet on a limb they're about to lose. Think of an institution or entity that can print endless "money" and doesn't give a shit about loses (The Fed *cough* JCB *cough* BEO *cough* Too Big To Fail *cough* *cough*) here..
Yes, to some people going from 15 down to 16.5 down is "climbing right back."
Math is hard...
The name of the game is volatility and this year will see more of it than most people can remember. Back in Dec 2014 people were saying the only way to go is gold and cash. All my stuff is now cash as of first week in Jan. Outside of the second coming that's where I'm staying until probably around the middle of the third quarter at the earliest.
Not to mention crude down 75c to $44.56 just pennies over the 5.5 year 1/12 low at $44.50. Look at the monthly to see if you think crude will stop at 2008's $40, or just proceed on down to the 2003 low at $26:
http://www.investing.com/commodities/crude-oil-advanced-chart
Is Brussels burning?
"The Thirty Years War has finally ended."
Phew!
Thank goodness!
just BTFD
Kill the QE "noise" or kill the "market", what's it gunna be..?
CHF 'Volatility Smile'
http://bloom.bg/1Jf4uIG
$44.37 new 5.5 year low for crude, on its way to $40, and then $26. JV knife catchers risking it all for a 30c bounce:
http://www.investing.com/commodities/crude-oil-advanced-chart
And I can't find a flight 2 weeks from now from Detroit to Phoenix for under $600. WTF...these airline companies are colluding. When do those prices go down?
Prices for airline tickets should go up as municipalities withdraw subsidies from the industry.
try airgorilla.com
Is Euro going to bounce with all the punters on the same side of the boat being short into the weekend?
Just take an economy seat on a plane to Davos and start shooting the idiots. Just like euthanasia is kind to suffering animals...let us all just do a favour and put these idiots out of their misery (and ours).
It will be an act of kindness. Quit analysing and compensating and BTFD'ing....and start the real solution. There really is no other solution at this point.
I'll get you a bus ticket to JH!
You could even get a job there.
Gold, Bit-Chez!
Here we go again...the ZeroProfit pussies shitting themselves. S&P futures down 0.5% and it is a 'plunge' apparently. If this insignificant Grrek vote mattered, we would be down 3% not 0.5%. Wear your diapers and go to bed. There are brave people in this world who will find a way to keep the earth spinning.
The Earth isn't spinning, you're just dizzy.
Oh I see the earth is still and the stars spin around it in your view? What century are you ftom you moron!
Ah, voltrader - you need to be careful about calling others morons. Old combatsnoopy was being like sarcastic, you know? Time for you to go to bed now.