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Fearful Fed Sparks Mass Confusion But S&P 'Rigged' To 2,100 Close
Everything was fine until zee Germans spoiled the overnight party (artist's impression of Schaeuble's phone call to Varoufakis)...
But entirely confusing Fed Minutes - dovish with a mix of bubble warnings and cluelessness (which were interpreted only one way by the dollar and bonds) left stocks whiplashing... but there was only one thing that mattered...
Must. Close. Over. 2100.
— zerohedge (@zerohedge) February 18, 2015
And sure enough...
Noisy day overall...
Post-FOMC, stocks could not make their minds up...
Stocks dropped to pre-EU-Greek Talks Fail levels pre-FOMC then oscillated...
Stock volume is absolutely terrible...
Treasury yields had generally drifted lower intraday before dumping at the FOMC dovishness (but 30Y yields ramped back higher into the close)...
which pushed 2s30s another 5bps steeper...
With the Dollar roundtripping to unch on the day (after dumping following the FOMC minutes)... note that Swissy was dumped today...
Gold and Silver jumped back to unchanged and copper higher but crude kept sliding...
Yesterday's V-shaped recovery now seems a long way off with the Torrance fire and inventory concerns weighing on it...
Across the asset classes, here is the post-FOMC reaction...
Charts: Bloomberg
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More volitility only enhances the skim folks...
same as it ever was...
"Show me that juicy double, Janet Yellen's in trouble, begging for a piece of that bubble."
-Sir Rigs A Lot
Sir Pricks a Lot .... (of bubbles)
the stock market: PROOF it's the Best. Recovery. Ever.
Of course they were going to raise rates this year. Of course they were. /sarc /sarc /sarc /sarc /sarc /sarc/sarc /sarc /sarc/sarc /sarc /sarc/sarc /sarc /sarc/sarc /sarc /sarc/sarc /sarc /sarc/sarc /sarc /sarc/sarc /sarc /sarc/sarc /sarc /sarc/sarc /sarc /sarc/sarc /sarc /sarc/sarc /sarc /sarc/sarc /sarc /sarc/sarc /sarc /sarc/sarc /sarc /sarc/sarc /sarc /sarc/sarc /sarc /sarc
Is that enuf /sarcs?
Who needs volume when youve got every CEO buying their own shares for whatever price with free FEDbux?
Take suckas money. BTFD. Repeat.
Everyday is a Christmas miracle.
More like the clap, everything is fine until you go to pee.
It's a Fetivus miracle!
did you see them knock the VIX down half a point in the last 5 seconds of trading....It was magical
It's a conspiracy I tells ya; a conspiracy!
A future FOMC meeting concludes with a Karaoke team-building event, as Kocherlakota, slumped in a semi-fetal position, is handed the microphone:
No, I can't forget this evening
Janet’s face as she was leaving
But I guess that's just the way Fed meetings go
She cracked a smile but in her eyes the Brooklyn showed
Yes, it showed
No, I can't accept tomorrow
Must embrace my dovish sorrow
When I had Bill’s vote, but then I let it go
And now it's only fair to let Steve Liesman know
What he should know:
I can't live
If living is without ZIRP
Can't print, can't give any more
I can’t live !
etc.
Don't worry, by the 2 am futures ramp they will have figured out it (whatever it is) was bullish
Nominal gains in the stock market while food prices stay incredibly hard, and with oil prices down. Getting harder to eat, yeah? And beer prices! My friend who owns a bar told me they raised beer prices a month ago and that beer prices have been raised more in the last year than before any time he can remember since he opened in 2008.
It's because every fucking brewery has gone IPA crazy and Cascade hops are in short supply. The Belgian beers I buy have stayed steady.
Budweiser is made from fermented sawdust. With lumber prices plunging, it should be cheaper.
the beer industry is fucking crazy. i was at the store, a 22oz of Stone Breweries special Barley Wine is 7.99. Arrogant Bastard is 3.99. Moet Chaendon is cheaper than those pricey Belgian Ales. but with the Aussie dollar in the outback, a can of Fosters is usually $2
I'm with you. IPA blows. It is to beer what Hummers are to automobiles. Also, enough with the Hop puns in the names.
WTF breaks the current impasse..
inflation (potential) in the form of skyrocketing money supply, zero-bound interest rates, and a "up only" stock market
stares blankly at...
crashing money velocity, collapsing commodities / baltic dry, stagnant wages
I'm sure this could go on for a lot longer than we think but eventually the continental plates slip and all hell breaks loose. HOW? WHEN?
stupid Tepper dumped assets, dickhead
Look at the prices of alcohol lately !!
Instead of $100,000 in gold. My $100,000 in Bourbon is going to be my greatest investment.
DO you remember the Margaritaville mixer South Park episode?
The one where a couple guys in congress cut the head off a chicken and it runs around a wheel of fortune circle with different outcomes on it. Wherever the chicken lands dead, they do whatever the block says.
The best part was the guy playing a kazoo while the chicken runs around.
https://www.youtube.com/watch?v=wz-PtEJEaqY
This honestly has to be what goes on at the Marriner Eccles building every god damned day. It is the only thing that makes sense. There is a wheel for where stocks should end up, where oil should, what percentage gold and silver should be slammed.
I can just see the floor. Bang the Close, Hit 50 day moving average, Spike VIX, Smash VIX, etc.
is that the one where Stan puts his birthday money in the bank and before they can give him his passbook the bank managers says and now its gone
https://www.youtube.com/watch?v=-DT7bX-B1Mg
when the Fed is on the bid and on the ask, you have a market.
right yellen? you fucking douche bag cunt!!!
there is enough excess liquidity in this market from QE to last for years probably. that was Bens gift to his successor. when that money runs out is always a bit of mystery, but it will, and much faster unless Yellen cranks up the old pre2008 liquidity tools, REPO and POMO. as an aside MG said lately that the monetary base is expanding while the money supply is not, which means (probably) the private sector in creating new credit . those pressures are similar to the pre2008 market, and it confounds the Feds ability to control things, which is when they crashed the market last time. see they dont really understand all this CDS derivative stuff at all, they are technologically challenged, they have old tools and the new HFTs and such are outside their control. all they can do is crash things to enable them to plan the economy using the older technology. recipe for disaster
low volume is good, i don't know where that myth ever came from in the first place, if you can leverage your investment higher using less of your collateral that is good
Okay folks, lets call paper what it really is,...well it's just that,....paper or digits on a computer screen.
Paper gold, paper silver, paper t-notes, paper bonds, paper futures, paper money, paper everywhere!
All left brain abstracts, socially constructed to serve you better!..(irony).
My point: Paper/fiat money ain't nothing but a "place holder", a believe system everyone agrees on, for now!
Money created out of thin air" (i.e. a computer entry) by Govt's Central Banksters is/was never intended to be "paid back", since it's fantasized invention (money) never exisited in the first place,... pay it back to who?
The dirty little secret: Govt debt do not matter!
Hence, always plenty of "funds" for war and black ops etc.
Govt's and the mafia banksters want to keep it secret so that, you, I and everyone else continues to make payments to the,....banksters.
Can't wrap your head around it (yet) ?....for good reading;
John R Searle "The Construction of Social Reallity".
ps: Yes Virginia, the black box is not black,...its painted bright orange!
https://www.youtube.com/results?search_query=ratm+wake+up+lyrics
Love how the Swiss National Bank axed their intervention via peg to initiate intervention!
I wonder if the commentators on this list would express themselves without the restraint of good taste if their comments were published over their real names. Just a thought.
Can you imagine if "audit the FED" were actually sucessful and a honest audit was conducted ? Probably nothing as long as free shit kept flowing from the gubenment.