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"Good" Jobs Reports Sparks Market Turmoil As Rate Hike Draws Closer

Tyler Durden's picture




 

Despite the rise in the unemployment rate - which by now become nothing more than a joke - the jobs report (at the headline level) was too good for the bulls demding moar for longer. The kneejerk reaction was a selloff in bonds, commodities, and stocks as the dollar surged amid rate hike delay hopes. As time passed stocks bounced back a little but bond yields and the dollar continue to press notably higher and crude has given up all its OPEC gains.

The entire Treasury curve surged higher...

 

But notably 2s30s is flattening significantly as the long-end outperforms...

 

The Dollar gapped higher and is holding gains...

 

which sent gold and commodities slumping...

 

And slammed crude lower - removing all the OPEC gains...

 

And stocks bounced back modestly from a kneejerk tumble but are fading again now...

 

Charts: Bloomberg

 

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Fri, 06/05/2015 - 09:06 | 6166270 FreeShitter
FreeShitter's picture

Hang the fuckers.

Fri, 06/05/2015 - 09:08 | 6166272 Soul Glow
Soul Glow's picture

Hang 'em high

Fri, 06/05/2015 - 09:10 | 6166280 Stackers
Fri, 06/05/2015 - 09:20 | 6166327 Headbanger
Headbanger's picture

Where are all you "no rate hike" fuctards now??

All your rates are belong to us!

HAHAHAHAHA!

Fri, 06/05/2015 - 11:08 | 6166350 remain calm
remain calm's picture

The Yen is taking a dump today, AGAIN. Kuroda and Abe will lose control of the YEN eventually. Short the yen: YCS. You are welcome.

Also, hey Fucktard(HB) i will bet you an ounce of gold that she doesn't raise rates this year.

Fri, 06/05/2015 - 09:17 | 6166317 BrocilyBeef
BrocilyBeef's picture

Now where can I get some Futs?

Fri, 06/05/2015 - 09:07 | 6166271 Soul Glow
Soul Glow's picture

Rate hike?!?!  Oh no!  We need QE4EVA though!

:)

Fri, 06/05/2015 - 09:11 | 6166275 spastic_colon
spastic_colon's picture

I am buying stawks right up until the NO rate hike announcement this month....straw man if I ever saw one.

 

remember taper announcement........same strategy

Fri, 06/05/2015 - 09:15 | 6166307 madbraz
madbraz's picture

the bull market is over.  get out.

Fri, 06/05/2015 - 09:12 | 6166288 Cursive
Cursive's picture

...as if a small coterie of Realtors in Miami, Manhatten and Malibu all cried at with one voice....

Fri, 06/05/2015 - 09:38 | 6166391 scubapro
scubapro's picture

"cash" is the new subprime/alt loans.   what else can drive up prices with no underwriting?    similarly to before....the effect on neighbors/existing homes is seen only to be positive vis a vis higher prices.     essentially that there are no negatives to cash buyers.

 

however, very little of this 'cash' is not levered.   SBL, securities based lending is where most of this cash is coming from, imo.  loans against stock portfolios is now equal in size, credit balances, as the entire margin complex is.    loans against the stock market today DWARF what we saw in 2000.   

imagine all the leverage that was in the mortgage market in 2007 is now concentrated in the stock market.  most likely a chunk smaller...a few Trillion then to  1/2 trillion today, but highly concentrated.    

the number of 2-3million $ homes for sale and UNDER Construction in south florida has never been higher.   

might tptb bite the hand that feeds it?   the moderately wealthy are the SBL borrowers..net worth under 10million.  now they are being set up  to have their stocks evaporate and be left holding 2-3 houses where liquidity suddenly vanishes.  

I need to read up on squatters rights in florida.  isnt it if you maintain and pay taxes for 2 years, you get to claim the property as your own?  

Fri, 06/05/2015 - 09:12 | 6166289 NoWayJose
NoWayJose's picture

Saved up some dry powder for this fake number - and all I get is kind of a modest drop in PMs this week. C'mon monkeys!

Fri, 06/05/2015 - 09:13 | 6166298 ShortDebt
ShortDebt's picture

QQQ will be green. Buy now before you miss out on 111.

Fri, 06/05/2015 - 09:17 | 6166319 Seasmoke
Seasmoke's picture

Is the fake bull market. Ready to turn and become a fake bear market. Sure looks fake to me. 

Fri, 06/05/2015 - 11:21 | 6166756 sun tzu
sun tzu's picture

There's never been a better time to buy stocks.

Buy now or be priced out foreverrrrrrrrrrrrrr!!!!!

Fri, 06/05/2015 - 09:43 | 6166409 adr
adr's picture

We are living in a badly scripted and awful movie that everyone in the media exclaims is the best movie ever. For some reason people can't seem to avert their eyes and it is propelled to the top of the box office.

YES WE ARE LIVING IN THE JAMES CAMERON ECONOMY!!!!!!

But it's so pretty!

Fri, 06/05/2015 - 09:46 | 6166419 Soul Glow
Soul Glow's picture

Dude T1 and T2 were awesome.  So was Alien and Aliens.  So I wouldn't compare this economy to his body of work.  I could however say this is like Titanic and Bernanke is like Leo, destined to end up at the bottom of the Atlantic.

Fri, 06/05/2015 - 10:50 | 6166645 Lady Jessica
Lady Jessica's picture

Alien was Ridley Scott.  Cameron did Aliens.

Fri, 06/05/2015 - 09:48 | 6166430 scubapro
scubapro's picture

 

http://www.securitiesbasedloans.com/3.html

link on FAQ to Securities Based Lending....  Does anyone know for certain if the part of the example is correct, wherein a loan is in 'default' or 'called'  when the  --value of the pledged securities falls below 80% of the LOAN amount.

so the example is   100k portfolio is lent at 70% LTV,   70k loan amount......there is no call until the 100k stocks is down to 56k?  70k x .8= 56k        so the lender is upside down??   i'd be surprised if they let themselves get in that position.

 

could someone speak to this?

Fri, 06/05/2015 - 10:04 | 6166483 MFL8240
MFL8240's picture

This whole charade is disgusting to watch.  Make up reports and scare is all they have!

Fri, 06/05/2015 - 10:06 | 6166487 Chuck Knoblauch
Chuck Knoblauch's picture

April's pile of shit was higher?

Great news!

Fri, 06/05/2015 - 10:14 | 6166520 scubapro
scubapro's picture

 

maybe it was old yeller who told bernanke to talk 'taper' then not 'taper' in sept, only to taper in december.....talk June, probably not; which means most likely september, but if gdp prints over 1% per atlanta fed on june 30;  look for rate hike in JULY

Fri, 06/05/2015 - 10:44 | 6166632 Seal
Seal's picture

Like an elephant giving birth to a mouse

Fri, 06/05/2015 - 11:29 | 6166787 rejected
rejected's picture

More BS from the BLS. More waiters, bartenders and waitresses, which is BS because that would imply there are more customers at the bars and restaurants and more bars and restaurant openings. Horse hockey.

@headbanger: Lets see what kind of rate increase and how long it stays in effect. A rate increase less than .5% is meaningless. Since they're indicating the economy is ramping up let's see a 2-3% increase. Bet not.

 

Anything from the BLS, or any government agency, is hogwash. They Bullshit, then back their BS up with... more bullshit.

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