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Bund Plunge-Protection-Team To The Rescue (Again)
If there is one thing more faith-in-central-planning-destroying than a drop in equity prices, it is a collapse in bond prices. Last week, when Bunds (and Treasuries) collapsed (with 10Y Bund yields spiking up to 75bps), there was a sudden appearance of a deep-pocketed buyer of last resort that rescued bond yields lower (and squeezed stock prices higher). Today, after overnight carnage, Bunds (and Treasuries) are once again mysteriously aggressively bid into the US open...
However, it doesn't seem to be having the same effect this time...
Charts: Bloomberg
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To infinity, and beyond.
Are markets ready for a Baumgartner?
The PPT is looking a lot moar like this now:
https://www.youtube.com/watch?v=hz65AOjabtM
https://www.youtube.com/watch?v=HN7OBEd5hRM
I think we have not really grasped what is going on here. The fraud and money printing has no longer got any limits, and they can continue this behaviour ad infinitum! In the old days some of the leaders would have got wobbly and set some limits, but the international overlords have clearly abandoned any vestiges of fear in the normal sense. What they fear is the day of reckoning, and that to them is wide eyed terror.
If they have to throw the economy, the people and the rest of the world under the bus, in order to stay on top of the pyramid, that is what they will do, because they have no morals and they are all psycologically disturbed.
So these unlimited interventionis will continue, until people give up the belief in fiat money and turn their back on the markets. Gold will be the only solution I can think of, and that only, because that is the one thing they cannot create out of thin air! Try as they might.
So, I don't think it will be a stock market crash, or a bond market singularity or the failure of one of the too big to fail, it will be a gradual decline in interest in the markets and a growing abhorence with anything financial. How this can fail to inspire a gold standard demand from the unwashed mases, I cannot see.
So yes, the stock market might go to infinity while society collapses.
That's why we call it the endgame.
Varoufakis was blaffing ...everything is fine .. no worries
he obviously said "to blaive", and as we all know, "to blaive" means to bluff, so, you probably playing cards, and you cheated!
The ECB is doing QE (buying sovereign European bonds) right now, as we speak.
This is a mystery? I thoughrt we covered all this already. "Mystery buyer with deep pockets." Ooooooo, whoever could it be?
C'mon. Are you guys even trying any more?
I hear Belgium has deep pockets.
You heard correctly.
The AAA+ assets needed to back up those pockets however...
Not so much.
Get to work Mr. Draghi.
Save us Eurogirl.
If it were generic with no interference, then it's chaotic. If it's manipulated, then it's all just shit ropes....shitty old bond ropes where the tighter you grab, the more you slip.
Belgium to the resuce
The PPT did the same thing last week and the rally failed to hold.
The market exits are rapidly clogging up.
Time to shut them down.
"You know what a shit rope is, Julian? It's a rope, covered with shit, that criminals use to hold on to. You see, the shit acts like grease. The harder you try to climb up, the tighter you try to hold on, the faster you slide down the rope, Julian. Straight to jail. "
" there's a shit wind blowing "
That's not a wind- it's a cloud:
https://www.youtube.com/watch?v=SaYUqXAmXRQ
Our whole world eCONoME was in a hot dense state,
Then nearly fourteen million years ago qe started. [Way too many years ago]
Then stocks began to cool.
The autotrophs began to drool.
Neanderthals developed (hft) tools.
We built a(n) (infinite) wall (street). We built the pyramid (schemes.)
Math, science, history, unraveling the mystery,
That all ended with a big bang!
How long can this charade go on? Until the world's central banks, whose pockets are bottomless pits, own all debt and all equity instruments. Until then, party on, dudes and dudettes, and never even think about going short.
Another tragic death.
http://www.bloomberg.com/news/articles/2015-05-12/missing-morgan-stanley...
must have been leveraged 40:1 bunds
Tragic? hardly, oh and did he have any nails in him?
Yes tragic. I hate to see the Great Lakes so polluted.
No nails. The police said the death was not suspicious, as they fished his body out of Lake Ontario.
http://rt.com/op-edge/257553-denmark-cash-free-society/
Reality it coming back and 95% of the west will not like it.
Soon it'll be China's turn for QE.Game of musical chairs,but it'll eventually end in a bang.
Canada, which is now suffering under 10%+ inflation, is about to raise official inflation target to 3%. Looks like .gov realises the only way out of massive debt is a lower Can$ and hyperinflation.
I'm pondering going long Can bonds at 1%. I see the need for some wallpaper in the near future.
http://www.financialpost.com/m/wp/news/blog.html?b=business.financialpos...
Now the stock PPT just showed up for work. S&P up 13 points in minutes, Viagra-style.
PPT's powerful, but I'm not sure they've been called in yet (I think 200 DMAs are their trigger). Instead, this seems the typical "whenever 2 indices hit a major DMA, bounce everything in sympathy for at least an hour" rule that is pure machine driven, in this case SPY and the Dow from almost precisely their 50 DMAs. Frustrating, annoying for post-open traders, but it may just be that simple. They'll try for Unch next, and if they get thru, a potential short bloodbath awaits, fucking mercenary algos now joining in. Could also be a short-reloading ploy, so I'm in here with a small position. Such fun mkts to trade ...
You be sightin' the Whale, Cap'n Ahab!