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GDP "Bad News" Is Not Good News: Stocks, Bonds, Gold Lower, Dollar Bounce
Update: Well that didn't take long to entirely reverse course... Stocks still down but so are bonds and gold now... Dollar up...
It appears bad news is not great news when it comes to GDP. Having missed consensus by a mile, GDP's weakness has sparked a more 'normal' reaction across asset classes for now. Weakness in the dollar and stocks along with bond yields tumbling (10Y back under 2.00%) and strength in precioius metals. Crude is uncaring for now.
After missing GDP expectations by a mile...
The reaction is not positive...
Charts: bloomberg
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This means, it is party time again - soon enough.
As failure presides, even to the sophists at some point a broken meme is no longer effective ....
Propaganda and Perceptions Management ultimately fall before the truth.
Wherefore whatsoever ye have said in the darkness shall be heard in the light; and what ye have spoken in the ear in the inner chambers shall be proclaimed upon the housetops.
-Luke 12:3
You are probably right, but I think we are quite far from normalisation of prices.
The only reason I can see for prices to go down, is to make some money on the way down, before pumping it up again.
This is the pull back I've been telling you to wait for. BUY BUY BUY
The FED needs to shred the dollar so companies can make money! Send oil back to $100 it's better for the economy! Add QE 15!!!
wait 30 minutes....
You would think after 7 years of the same failure...they would get it! Low rates are killing the economy....and gamblers are bad!
I think the gamblers r down to trying to fill an inside straight with no money left. Think Twitter news puts an end to the "social media" bubble.
You just wait til next quarter!!! That's when we really get going. Next quarter!! ......It's not much different than being a Cub's fan.
gotta feel bad for Cubs fans; but really, they bring it upon themselves lol
Ditto Raiders fans.
I've never felt bad for a Raiders fan.
All news is good news. Some days it just takes a little longer for them to manufacture the storyline, but this is clearly good news, just give it a little time.
wait til old yeller speaks, she'll show them sellers
the algos are waiting until after the fomc to buy like they always do
If we're not paying the gov't to give us good numbers, then what are we paying them for??
Lol.
These are good numbers. The real numbers are negative.
in a normal ''market'' considering how atrocious the gdp number was, and considering how high the ''market'' has been run up for the past 6 years without a real pullback, today would be the perfect day for a 5-10 percent drop.
of course though, there is no normalcy anymore, as its been for a while, and there is no ''market'' so its irrelevant
"today would be the perfect day for a 5-10 percent drop"
there are curbs in place to prevent that. plus, k-hen has unlimited funds to naked sell vix calls whenever there's the slightest lull in the action to spark buying by massively overleveraged firms.
http://www.post-gazette.com/business/pittsburgh-company-news/2015/04/28/U-S-Steel-reports-75-million-first-quarter-loss/stories/201504280193
Didn't those idiots get the memo???? They were supposed to borrow and buy more shares back!! Come on! Get with the program!!! Get on the winning team!!!
gold not up, it's not going to be allowed to rise no mater what.
Gold rose the last two days. And all the goldbugs came out in force. I guess they are taking a vacation today.
FOMC day - markets begging for no rate hikes and new QE.
Ha ha ha ha
https://www.tradingview.com/x/brGwfl83/
And all you hear out of the MSM such as CNBS is that everything is so good that a rate raise by the Fed is imminent.
What an absolute joke wrapped in a farce wrapped in a tragicomedy (loosely quoting a ZH expression from a long time ago).
Algos beating gold down atm.
SMACKDOWN!!
I bet the author $1,000 that the stocks get ramped up at the open and gold/silver get batted down. They can't let the markets think they don't control it and the reactions to shitty gdp data.
No one here would take your bet.
And the fed is going to raise rates because everything is so good?
Even propaganda has its limits as anyone half paying attention can see that the narrative and what's actually happening are miles apart.
cramer now saying the fed would be crazy for the fed to tighten.
because higher interest rates of the 0-bound would prove he is and has been dead wrong about this "recovery"
santelli nailed this entire situation: its an interest rate subsidy & in the U.S., once u give a subsidy, its virtually impossible to take it away. we now believe we are "entitled" to zero-rates to borrow $$$$ to buy shit & prop-up the economy INSTEAD OF ripping out the guts of debt & building it up the right way. keynsians have no problem building houses out of straw. us here at ZH, much rather opt for the concrete, steel, and titanium.
We also build bunkers...NOT houses....
By subsidy you really mean welfare for banks.
looks like Peter Schiff was right again... they can't/won't ever tighten... at least not in this decade
Time to fire up the FEMA camps.
It doesn't make sense, the fundamentals are strong.
Twatter, lol.
Where did Gartman draw his line in the sand yesterday? what a fucking clown.
Lower? What is this 'lower'? I don't understand. Anyway, looks like it's time to buy WTI again. Hurrah.
0.2% !
Well thats on a yearly base.
USA grew Q1....0.05 % ( and even that is a lie)
0.2% is optimistic.
Meanwhile in Fascist Europe: https://www.youtube.com/watch?v=NTwOap7ohc4&feature=player_embedded
.2% GDP only wipes off -40 DOW points...WHEEEE still partaying!
Lets see if you can keep those plates spinning Yellen. You cunt.