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Stocks & Bond Yields Surge As Bad-News-Is-Good-News Madness Returns (For Now)
It appears a slew of terrible data is just enough to re-ignite the bad-news-is-good-news... more data to come soon.
With the world short bonds, and long VIX - someone is about to get squeezed hard.
Standard morning stop-run?
Ironically, the odds of a September rate hike rose this morning from 28% to 30%.
Charts: Bloomberg
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Someone must have leaked that Gartman fired up the short again.
6 whole points....and right to the top of the pennant. coming to an end soon. expect a ridiculously tight range until this pig gets whacked by yellen on thursday.
all bad news is good news to the plunge protection team
as Paul Craig Roberts pointed out, what is to stop the central banks and the Fed
from buying up as much stock as they want?
They have unlimited money . . . they create it.
Fascism has come full bloom in the West.
What do you mean leaked? When has Gartman ever not gotten on CNBS to blabout his trade!
Not to mention the fact that he puts it in the "World Renowned Gartman Letter"!
I think CNBS has a direct feed to his fake law library, they just turn it on and he is there!
0.25 point hike is coming no matter what
QE $18 trillion next.
Re: "0.25 point hike is coming no matter what"
Yup. Yellen will look at what happened in Japan after no rate hike and say "OK, that didn't work."
It will be interesting to see how this all plays out in the face of multi-trillion dollar excess reserves.
Sweet Lord, No! The worst possible scenario - "NOTHING HAS CHANGED".
This is the biggest suckers rally ever. So the markets decided to rally because the fed's decided to not do anything? Now CNBC is peddling articles of a 'big rally' into a rate hike?
They are flogging full time while they are trying to get out. This is bag tossing to the muppets at it's finest.
Sell the rips !
(and, short the rips)
you had to know this post was going to follow the last
This is why the there is no market. It is not based on any economic reality. Most likely the algos believe the bad data will stop the Fed from raising and the algos want to get ahead of that spike. The 'survey' that shows a jump from 28 to 30 percent is not done on algos, but rather asks 'carbon based life forms' and it not relevant.
which dovetails to the whole "most hated bull mkt in history" story - everyone knows it complete & utter BS but the fed's doing everything in its power (& then some) to drive the cattle into it & keep them (/us) there. personally I think they raise b/c the loss of whatever shred of credibility they have left is worse than the fallout from .25 - it's better (or at least less worse) to inflict some pain but send the message you're still in charge than to remove any doubt you're anything other than a codependant, enabling b___h...
Complete and utter BS that made some people very, very wealthy.
We've been on a rip since 2009. Does that mean it's time to sell? Funny thing about the "market wisdom" -- buy and hold, dollar cost averaging, etc. etc. ad nauseum -- that's peddled to market amateurs such as those whose retirement accounts take the form of 401Ks: They're always told to buy -- which is all the time -- but never when to sell.
Easier than shearing sheep. Otherwise, pretty much the same thing.
No rate hike. Yea!
Why would they raised rates ? The only reason would be to protect the dollar which clearly does not need it right now. Let the market crush under its sheer weight when Q3 results come next month....
It's called market rigging. The criminals know at all times who is long and short, the total quantity and their cost basis. This is all about extraction of credit from the free range slaves to themselves.
Remember to get your mandated vaccines!
I love it when the data plays no part in the direction of the 'market'. It instills confidence in me that our leaders have this all under control. They wouldn't lie to us.
So much for the Shemitah............