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"Greece Is Contained" Except In Crude, Copper, FX, US & EU Stocks, & Peripheral Bonds

Tyler Durden's picture




 

Seemed appropos...

"Greece is contained" was the clear message desperately trying to be provided to the masses today as PPTs from all around the world lifted FX (and equities directly in some regions) in an effort to keep the dream alive... It didn't work!

 

It started in China... and failed...

 

Then Europe... and failed... (in stocks)

 

With Spain, Portugal, and Italy dumped...

 

and bonds...

 

Then US... and failed...

 

Don't get too excited about the bounce - we've seen it all before...

 

Broken markets and VIXnado'd...

 

FX markets turmoiled but it appears The ECB and BoJ had an 'understanding'...

 

Here's how EURJPY was used to ingite carry trade-spewed momos into lifting stocks higher...

 

Treasuries well well bid out of the gate as investors sought safety... then sold off into the European close... then yields ripped to the lows of the day...

 

Commodities mixed...

 

Crude clubbed like a baby seal...

 

Some context for Crude today... Carnage!!

 

Copper crashed...

 

And finally - gold and silver! Makes perfect sense as all hell breaks loose for the precious metals to trot along the flatline ignoring all the noise as if some external factor was crushing the life-giving volatility out of the status-quo-meme-destroying prices...

 

But apart from all that - Greece is priced in, Greece is contained, and Greece doesn't matter

Charts: Bloomberg

Bonus Chart: How do you say "Deja Vu All Over Again" in Chinese?

 

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Mon, 07/06/2015 - 16:06 | 6277628 J Jason Djfmam
J Jason Djfmam's picture

A mere flesh wound.

Mon, 07/06/2015 - 16:15 | 6277650 UndergroundPost
UndergroundPost's picture

Greece exit turns PIIGS into PIIS (pronouced PISS) which is what markets will be doing all over themselves once the contagion REALLY starts leaking. The winners? The radical, communist/leftist Marxists of Syriza who will nationalize EVERYTHING in Greece, shut any markets that remain, and laugh  -as they feast on caviar with Putin - at how easy it was to get Greeks to trade a NEOCON master for one that proudly wields the HAMMER & SICKLE.

Mon, 07/06/2015 - 16:20 | 6277674 kaiserhoff
kaiserhoff's picture

Oil was the shocker.  Down $4.30 at one point.

Lots of margin calls going out as we speak.

Mon, 07/06/2015 - 16:25 | 6277689 Au_Ag_CuPbCu
Au_Ag_CuPbCu's picture

Whew, glad they got it contained.  I was worried there for a minute...

Mon, 07/06/2015 - 16:35 | 6277717 El Oregonian
El Oregonian's picture
"Greece Is Containminated!"
Mon, 07/06/2015 - 16:59 | 6277789 Soul Glow
Soul Glow's picture

Gold and silver FTW btichez

Mon, 07/06/2015 - 17:05 | 6277809 asteroids
asteroids's picture

We've seen this picture before. The PPT  steps in, and a few days later things fall apart as the cocain wears off. So, Weds should be a pretty brutal day.

Mon, 07/06/2015 - 17:06 | 6277812 Not Too Important
Not Too Important's picture

If that happens, Greece will be turned into Ukraine/Iraq/Libya/a dozen others.

Yes, there might be a Grand Conspiracy, but so far, lots of people dying over competing pipelines, and soon to die over oil prices.

 

Mon, 07/06/2015 - 19:52 | 6278283 MOB666
MOB666's picture

wait....what? oil executive's like nail guns too?

Mon, 07/06/2015 - 16:17 | 6277660 Boris Alatovkrap
Boris Alatovkrap's picture

Greek contagion is contain like open canker puss lesion on inflame labia of meth crack prostitute.

Mon, 07/06/2015 - 16:19 | 6277668 Boris Alatovkrap
Boris Alatovkrap's picture

Question is not if, but when is disease of transmission pass to other patron of EUC/ECB pimp.

Mon, 07/06/2015 - 16:21 | 6277675 johngaltfla
johngaltfla's picture

It was easy money today. The panic started, the rally returned, you get a full round trip and get to go short, long and profit all in one day. I love days like this.

Besides, the big PIIGS haven't even begun to squeal yet (other than Hillary).

Greece Isn’t the Problem and the International Bankers Know It

Mon, 07/06/2015 - 16:45 | 6277756 saints51
saints51's picture

it was pretty easy I have to say. Crude couldn't get above VWAP at pit open. Smash it down because you know algo's are about too. Then a little while later one more Vwap test. Failed. You could of played them same ping pong game with TF.

Mon, 07/06/2015 - 17:38 | 6277880 johngaltfla
johngaltfla's picture

Gold is going to be a sweet trade also. Retest of $1070 is a given now. Dr. Copper and Nurse Iron Ore do not lie....

Mon, 07/06/2015 - 18:20 | 6277978 knukles
knukles's picture

Sweet disassociation with PayPal and Amazon
KUDOS!

              *****Knukies 10,000 Points of Class Act Strike at the Heart of Propaganda and the NWO***** 

Mon, 07/06/2015 - 21:55 | 6278655 saints51
saints51's picture

In agreement John. They do not lie.

Mon, 07/06/2015 - 16:21 | 6277676 kaiserhoff
kaiserhoff's picture

You have a way with words, Boris;)

Tue, 07/07/2015 - 01:24 | 6279111 Boris Alatovkrap
Boris Alatovkrap's picture

This is sadness because before nipple on hairy back and bulge mid torso, Boris is way with women! ...now is just words.

Mon, 07/06/2015 - 16:52 | 6277738 replaceme
replaceme's picture

That reminds me of a horrible joke - something like ... nevermind - it had scabs, though.

Mon, 07/06/2015 - 16:12 | 6277630 JustObserving
JustObserving's picture

The omnipotent banksters did not have enough Kevin Henrys on the job today?  Reality can such a drag when you have been creating a fake reality all along.

Neoliberal economists in service to the financial sector have created a rationale for why interest rates can be negative in the face of massive debt and money creation and a slew of troubled financial instruments from corporate junk bonds to sovereign debt. The rational is that there is too much saving: The excess of savings over investment forces down interest rates. The negative interest rates will discourage people from saving and encourage them to spend, because the price of consumption in terms of foregone future income from saving is zero. It even pays to consume, because saving costs more than it earns.

Economists argue this even though the Federal Reserve reported that a majority of Americans are so low on savings that they cannot raise $400 without selling personal possessions.

Paul Craig Roberts

Mon, 07/06/2015 - 16:19 | 6277672 Fourmyle
Fourmyle's picture

Just a coincidence, nothing to see here...   http://oglaf.com/clustering/    time to go invest in scotch me-thinks.

Mon, 07/06/2015 - 16:12 | 6277636 Rainman
Rainman's picture

Now... let's see how long these eurocrooks can go without saying ' credit event '....

Mon, 07/06/2015 - 17:08 | 6277819 Not Too Important
Not Too Important's picture

After all these years of obvious manipulation who in their right mind would buy CDS? It will never be triggered. Is it mandatory somehow?

Mon, 07/06/2015 - 17:40 | 6277885 kaiserhoff
kaiserhoff's picture

Institutions buy it as pretend insurance, to avoid marking to market, leverage restrictions, whatever.  They can pretend to be hedged.

It's worthless, but if your competitors are playing, and avoiding the rules you have to as well.

 

Mon, 07/06/2015 - 18:22 | 6277985 knukles
knukles's picture

Oh yeah?
Betcha betcha betcha that if GS, JPM and Citi are on the one and same collect on the event side, it will be declared.

     'S'like the old cartoon of the guy and his date in the theater and she's reaching into the bag of popcorn on his lap

Mon, 07/06/2015 - 16:12 | 6277639 thismarketisrigged
thismarketisrigged's picture

well first things first, lets all give props to kevin henry and his friends. that final hour, they basically brought us back from a modest decline to flat

 

secondly, if this fucking shit didnt collapse today, then i dont know when it will. to all those assholes in msm saying greece dosent matter, so then wtf do u keep talking about it, and wtf did the ''markets'' rise last week on the bullshit rumors that a deal was possible?

 

this shit is such a fucking joke, and i have a feeling tomorrow stawks will have a gigantic orgasm and come back close to all time highs.

 

my reasoning? anyone who watched this shit today, it was clearly evident that they wanted to keep it in the green modestly today, but they decided it would be way too obvious ( sorry fed fucks, it already is ) that they r controlling it, so they want the sheeple to believe its still a real ''market'' and kept us in the red.

 

 

Mon, 07/06/2015 - 16:37 | 6277726 Keltner Channel Surf
Keltner Channel Surf's picture

Another likely factor at play is Wed's FOMC stmt, with the holiday and Greek drama, I almost forgot that it's on tap mid-week, and that it nearly always creates bizarre trading 2-3 days ahead.

Mon, 07/06/2015 - 17:06 | 6277813 Panafrican Funk...
Panafrican Funktron Robot's picture

IMF is going to bail out Greece and achieve super senior loan status over ECB lending.  This is very pro-turbo on both sides of the pond.

Mon, 07/06/2015 - 17:10 | 6277827 Not Too Important
Not Too Important's picture

I'm guessing $10-20 trillion USD equiv. was conjured up today, most of it before noon EST.

"To infinity, and beyond!"

Mon, 07/06/2015 - 16:12 | 6277640 tahoebumsmith
tahoebumsmith's picture

Wait until the Derivitive and CDS markets start getting monkey hammered! The Ponzi will start to unravel fast and there will be nothing to backstop it this time, total chaos will ensue and very few will actually understand what the fuck happened...

Mon, 07/06/2015 - 16:14 | 6277645 TheRideNeverEnds
TheRideNeverEnds's picture

Just buy the dip you idiots.

Mon, 07/06/2015 - 16:21 | 6277677 Squid Viscous
Squid Viscous's picture

Actually sell the rip is working better now fuckface.

Mon, 07/06/2015 - 16:15 | 6277647 Keltner Channel Surf
Keltner Channel Surf's picture

For bulls born in the QE era, old habits die hard:

“Buy Me BABA”       from   “Be My Baby”        by The Ronettes

The night you IPO’d I knew I needed you so
And if I could buy you near $80, I’d never let you go
I’m not afraid to say I love you, and that I’m so proud of you
We’ll make shorts hang their heads
Every day your share price grows

So won't you please                   (Buy me, buy me BABA)
Buy me a little BABA                  (My one and only BABA)
Say you'll do my charting          (Buy me, buy me BABA)
Buy me BABA now !
Wha-oh-oh-oh

Analysts are hapless, BABA, just wait and see
For every time they diss you, you’ll go up by 3
Oh, since the day they saw you
They have been hating on you
But I know 80’s your floor for all eternity

So won't you please
Buy me a little BABA
Say you’ll do my charting . . .

Mon, 07/06/2015 - 16:15 | 6277652 ZomBiEHiGH
ZomBiEHiGH's picture

Shit's so laughable. 

Mon, 07/06/2015 - 16:15 | 6277653 disabledvet
disabledvet's picture

Epic panic.

Good luck trying to trade around this thing.

Mon, 07/06/2015 - 16:17 | 6277657 wendigo
wendigo's picture

How can this be? I thought not even a full blown invasion by things from another world could move the markets? 

Mon, 07/06/2015 - 16:17 | 6277661 Kaiser Sousa
Kaiser Sousa's picture

i coulnd give a fuck about the ridiciculous shit show the Fed and the ESF r moving this phony ass Fraud Markets with...why?

cause the post lady just dropped off another 20oz's of REAL MONEY....

death to the MoneyChangers.

Mon, 07/06/2015 - 17:15 | 6277835 Not Too Important
Not Too Important's picture

But now the MoneyChangers have your address. I could never fathom this thinking.

And they also know if you can defend it.

At the end of the day, they don't really care, either. A plane will fly over your area, and in a few days everyone will be dead. If they even want anything, they'll come in and get it. Otherwise, it'll sit there for eternity.

And they'll spray Black if they want to, too. There is no escape from the bio-aerosols.

But do get in line and get your vaccines...

Mon, 07/06/2015 - 17:35 | 6277869 Kaiser Sousa
Kaiser Sousa's picture

to those who r devoid of fear none of what u said matters...

but feel free to live in whatever mindset u choose...

 

Mon, 07/06/2015 - 16:19 | 6277669 Squid Viscous
Squid Viscous's picture

You know it's bad when they have to drag Krudlow out of the gay bars and put him on CNBS...

Mon, 07/06/2015 - 16:40 | 6277733 ebworthen
ebworthen's picture

Tell me he didn't say "mustard seeds" or "green shoots", please Larry, no...

Mon, 07/06/2015 - 16:47 | 6277758 disabledvet
disabledvet's picture

HUGE JOB PRINTS!

INFLATION EVERYWHERE!

NO SLOWDOWN IN SIGHT!

Mon, 07/06/2015 - 16:19 | 6277670 carbonmutant
carbonmutant's picture

No of this matters as long as the FED's Dark Pools can keep the markets propped up...

Mon, 07/06/2015 - 16:22 | 6277680 Atomizer
Atomizer's picture

Shooting Fish in a Barrel. 

Bang, bang, bang, bang. Goddamn it, I keep missing my targeted suspects. 

/sarc

Mon, 07/06/2015 - 16:32 | 6277709 Atomizer
Atomizer's picture

Contagion is Michelle Obama getting crabs and selling it off as a new school healthy menu lunch item.

Mon, 07/06/2015 - 18:18 | 6277975 One Eyed Jack
One Eyed Jack's picture

We STD-Ed some folks

Mon, 07/06/2015 - 16:33 | 6277711 samjam7
samjam7's picture

Crude falling and falling but gas prices remaining flat at most...mhm *scratching my head*

Mon, 07/06/2015 - 16:43 | 6277744 disabledvet
disabledvet's picture

I'm sorry...did you just say "there is a trader long gasoline"?

Mon, 07/06/2015 - 16:35 | 6277713 One Eyed Jack
One Eyed Jack's picture

So just like the Obama administration's ISIS containment strategy....well I guess they are contained to the earth... For now. I am sure that nasa will help them reach their goals though given enough time.

Mon, 07/06/2015 - 16:39 | 6277732 Ness.
Ness.'s picture

S&P futures now exactly unchanged from last night's open.  LMAO!  

Mon, 07/06/2015 - 16:44 | 6277750 Atomizer
Atomizer's picture

We borrowed some folks money 

-Barack Obama | July 6, 2015

Mon, 07/06/2015 - 16:40 | 6277734 Atomizer
Atomizer's picture

TPP. Just wait until this negros Pandora Box opens. 

http://www.investopedia.com/terms/c/contagion.asp

 

Mon, 07/06/2015 - 16:55 | 6277775 22winmag
22winmag's picture

The word you are seekng is containmanated.

 

Still stackin'.

Mon, 07/06/2015 - 17:07 | 6277816 pragmatic hobo
pragmatic hobo's picture

i was actually surprised that eur/usd closed in red ...

Mon, 07/06/2015 - 18:21 | 6277984 One Eyed Jack
One Eyed Jack's picture

Someone should hire crisis actors to stand in line outside of major banks and claim they can't their money out

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