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Payrolls Reaction - Bad News Is Bad News: Stocks Down, Bonds Up As Carry Trades Unwind
Uh-oh... the payrolls "bad news" does not appear for now to be bad enough to prompt a "good news" buying mania as perhaps - just perhaps - the market is coming around to the total farce of smoke and mirrors of lower rates and QE doing anything for the real economy is being exposed... Dow futures are down 90 points, TSY yields down 7-8bps and USD weakness spreads as carry trades are unwound en masse.
Stock futures not happy...
The entire bond complex is seeing yields collapse...
as The Dollar gets dumped and Swissy soars...
The S&P has joined the Dow in the red for 2015...
Charts: Bloomberg
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How convenient, most other major bourses shut today for Easter and no chance to hedge... Bad news doesn't last for long though as with the Nikkei, now plus 400 since the Tankan...
FARCE
The real story will be told on Monday. This is just Algos and Rookies trading. Would not touch the ES this morning. One Algo "Ooopppsss" and no telling what would happen.
Who knows Party, maybe another 1000 point flash crash event - Gawd knows it is about time
That said with the Dow balanced on a knife edge here on four month support, we could actually be witnessing the start of a fall to 17000
Fed and ESF folks took the day off. Market falls today back up Monday.
We will rigg statistics next time, fellas...sorry
Nice dip for the Monday ramp.
Well yes, since Easter is all about resurrection, a 400 point rebound on Monday would be a nice touch I suppose
Die in a fire Mr. "Market".
No humans in the market, and the algos are still embarassed by the TSLA W-car debacle. snicker.
I'm a human, and thank goodness the bond market is open this morning-----I'll be selling some Treasuries into this price spike. But, not to worry, at the end of the trading day, I'll still be massively long.
I'm waiting for either a rate hike or massive defaults to hit corporate junk due to low oil prices (thinking shale producers).
I'll probaby lose my shorts waiting for this to occur, but god damn I'd love to short the fuck out of it.
#negrates
Find it odd a factory in Louisille catches fire the day after the prince of darkness visits
QE4 on Monday
Next story, index's break
batter up
bats down
All over the place, like shit in an lunatic asylum for economists.
the zh effect in reverse, lulz
Well, that idea didn't last long. Try again.
The markets want to roll but Obama keeps ordering purchases. Worst case is a 5% dip to please the short crowd. Until Jan 2017 nothing is going to change.