"Bad News Is Bad News"? 30Y Yield Plunges Under 3.00%, Stocks & USD Slide After GDP Miss

Tyler Durden's picture

Is bad news, bad news again?

Stocks have given up their European surge gains...


Gold is up post-GDP, USD down, stocks continue to leak and bond yields plunge...


On a side note - Gold was flash-crashed again as the afternoon session started in China overnight.


Charts: Bloomberg

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JustObserving's picture

Kevin Henry is on summer vacation?

Gold has been the whipping boy for years now.  It gets whipped on good news, bad news and no news.

NoDebt's picture

Dennis Gartman's fault.

asteroids's picture

Gold will be smashed at every opportunity. Gawd I want to buy it so bad, but I know it'll get cheaper, so I wait.

Ghordius's picture

imho the totally wrong approach. if you want to save for the future, you should not even look at the price, only how much you want to save every month

ok, yes, that's an Old World approach to gold, and old-fashioned, too, from a part of the planet where this anti-gold propaganda is not even floated, because it would ring too ridiculous

though if you are looking at gold as a speculation... i.e. to buy low and sell high... then you should realize that you might be playing with the really big boyz, i.e. out of your league

gold is an excellent insurance against... nearly anything. too much of it is counter-productive, none is... madness. only opinion, as described

Latitude25's picture

I will be cost averaging all the way down.  The cheaper it gets, the more I buy.

The central planners's picture

"Gold is a weird old relic" i saw that comment in another post

ejmoosa's picture

They have monkeyed with GDP so much that it is likely impossible to have two consecutive negative quarters anyway.

Change the metric to Corporate Profits after Taxes, or Business Profits, and you have a recession.

KnuckleDragger-X's picture

The Wall St. cowboys are working like hell to keep the herd circled up and not stampeding, but they're nervously watching the giant storm getting closer and closer and they know a stampede will happen at any time if the herd gets spooked....

ZippyBananaPants's picture

This is so confusing!!

Chupacabra-322's picture

Let's keep it simple:

Total Criminal Fraud enitity aka the UNITED STATES, CORP. INC. debt:
18 Trillion.

Total Global GDP 20 Trillion.

A Criminal Fraud monetary system based on Debt, Bondage & Enslavement is unstastainable. The end result being engineered Collapse. All done by design, all done by agenda.

Don't forget the 200 Trillion in unfuned liabilities IE: Social Security / Medicare etc...

Bill of Rights's picture

They can change the GDP math anyway they choose, the real GDP is Main street and it ain't shopping  or spending except for needs not wants.

dobermangang's picture

Yup.  The masses don't have any more stupid money.  No disposable income for the rapidly shrinking, disappearing middle class.  Hillary can still get $600.00 haircuts though.

kralizec's picture

Thanks to double-seasonal adjustments everything is awesome!

ShorTed's picture

There you go making sense again, and an excellent point at that.

MWizard's picture

You may have wondered why traders publish their profitable strategies https://www.youtube.com/watch?v=TKs_KEpDtn0

Dr. Engali's picture

This is what bonds do in a depression. Go ahead and raise rates and flatten that yield curve Janet, I triple dog dare you.

user2011's picture

HFT ready..... ready......   5....4....3....2...

madcows's picture

Dear Janet.  Everyone is calling your bluff.  There'll be no hikes, and we all know it.  You can't even hike a measely 0.25% or it all crumbles.

Bill of Rights's picture

Why is that? When Volcker raised rates the ecomomy expanded...

Everybodys All American's picture

18 trillion in national debt and growing. Do you know what just a small 25 basis point move higher adds in additional debt? It's a rather sizable number. Now you know the rest of the story. That number btw is an amount of 45 billion for every 25 basis point increase in interest and that is if we stay at 18 trillion in debt.

Save_America1st's picture

Yup!  They've boxed themselves in real fucking good...trapped like the rats that they are.  They can't even chew off a limb to get outta this trap.  Anything they do is going to crash everything.

Extend and pretend is all they have left and they're running out of time.

Get outta the system now while you still can and keep stackin' phyzz.  Keep a good amount of dry powder on-hand as well...at least a few months or more for bills and expenses but get it the fuck out of the banking system now while you still can.

If you don't, you're going to really fucking hate yourself when they confiscate it.

Other than that there's not a whole lot we can do except to wait for the implosion and hope we've prepared enough to make it through to the other side of the shit storm that's going to hit the entire world.

JJdog's picture

Maybe the Chinese had to sell their gold to cover their margin calls? 

BullyBearish's picture

Only when "they're" all in short will it be allowed to fall...they NEVER lose

Spungo's picture

"When Volcker raised rates the ecomomy expanded..."

Not sure if sarcastic. Volcker's rate hikes caused a very severe recession. Housing prices crashed through the floor. My parents were able to buy a house for about 60k. It's now worth about 500k.

kralizec's picture

Yeah, gold is the enemy, and nothing can alleviate the pain of the Ruling Class like tearing down the shiny.  Volcker and his latter day ilk can rot in Hell!

Kina's picture

I wouldn't be putting too many eggs in any one basket. Like gold and silver. They are good hedges against bad things, but govts can still get you on them by special taxes and regulations.


excxept if gold is $350 / oz... then buy the lot.

the not so mighty maximiza's picture

They should be going up miss means more qe and zirp.  Peddle to the metal

Chuck Knoblauch's picture

With Chinese fear porn continuing, DOW will rally today.

All according to plan.

China buys gold continues.

Atomizer's picture

Global Domestic Prostitution didn't meet its goal? Color me shocked.

Josef Stiglitz on globalization, why globalization fails 


Stanley Lord's picture

Tyler I cannot believe you did not post about Obama saying "I think I am a good President"-talk about a bell ringing in the markets.

Chuck Knoblauch's picture

The auction took place before the GDP report?

That was convenient.