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Hawkish-er Yellen Sparks Dollar Pop As Stocks, Bonds, Commodities Drop
A hawkish Yellen a week ago sparked an exuberant rally because "rate hikes must mean the economy is awesome" but a hawkish-er Yellen today sparked turmoil as the dollar jumped and bonds, stocks, and commodities dumped... (though we note markets had been anticipating some of this move into her statement)
Smashing Dec rate hike odds to 60% (from 50% overnight)
Everyone knows you never go full Hawk-tard...
Still, stocks are holding most of the gains from the Hawkish FOMC statement...
Futures once again show the craziness this week best..
But Trannies were worst today as a late-day panic buying effort as Nasdaq and Small Caps were ramped to unchanged
As S&P 2,100 was clearly important to the machines.... as VIX was used to ensure it closed above that level
Yesterday's credit decoupling extended dramatically after Yellen's comments...
Yesterday's VIX decoupling also extended notably...
Treasury yields were ugly, although most of the heavy selling pressure was in the short-end... as 30Y ended the day unchanged and 2Y +5bps
With yields notably higher still from The FOMC statement (again with the short-end underperforming)
As 2Y Yields hit 4 year highs...
The US Dollar extended gains against the majots - with EURUSD plunging to a 1.08 handle - now up 1.3% sicne Friday...
Dollar strength did not help the slide in commodities... with crude worst today but PMs pummeled this week...
Crude crashed back from yesterday's exubeerant highs after production and inventories rose...
Precious Metals have been pummelled...
Charts: Bloomberg
Bonus Chart: Food vs Friends...
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-50, isn't that clever.
My goodness, it was a bloodbath out there today you guys! DOW down a cliff diving .01%... I was all like, OMG!
I had adjusted this month's VAR models to only allow for a 1 point daily variation in the S&P. The carnage that produced today...
Those 28 basis point plunges are a killer. I had to sell my dog to cover my losses. And he was a pretty good dog.
even im kinda of surprised how hard theyve hit the phony paper prices of Gold and Silver beginning with thed last Fed "we can never raise rates" bullshit release and continuing into todays incoherent idiot speak by Old Yellen...
but its cool if they wanna hand over some more Silver tonight or tomorrow morning below $15 having bought a little Gold ealier in the week...
just sayin'...
to everbody else - just hang in there if u can....and if u dare....
$80 drop on nothing but false words......I just hope we get to see that Mr. Yellen has died a violent death. It is well deserved.
I'd settle for a stroke.
Yea then we can just watch her live out her days drooling into some tapioca pudding....good ending.
GOLD dropping $10@day. Only 5 months and paper price will be zero. Bring it on Tribe.
Fed chaircritter blather days sometimes produce bearish engulfings. That timely 1:56 machine stick save seemed to prevent that from happening this time around.
I'm now accepting orders for Dow 20k hats .... perfect Xmas gifts for the whole family.
this is all setting up for a Nov Coasting till Dec drama ramps up
i don't know if my ZH withdrawals will last that long
somebody please hold me.
Here's a Little Shop of Horrors picture that may come in handy:
http://3.bp.blogspot.com/-8EfWZCkYptI/T9SSLG_wf_I/AAAAAAAAISA/BJij3Dd0C2...
Just finished a pretty thorough look at how USDJPY and CL-fueled algos have driven the market higher, with a focus on the past five weeks in particular. If you'd like to better understand the daily machinations that allow stocks to knife through overhead resistance, have a look.
http://pebblewriter.com/how-they-did-it/
fuck yellen
No thanks, but she can fuck herself.
Extreme And Blatant Gold Futures Manipulation: Bad Jobs Report Ahead?
TND Guest Contributor: Dave Kranzler
http://thenewsdoctors.com/?p=533571
Trannies, trannies, trannies. Trannies in the WH, trannies on Wall St., trannies on ZH.
Getting tired of all these Trannies everywhere.
You forgot to say Michelle.
Even the trannie in my F150 is giving me trouble. I'm tired of trannies too.
I wonder if the FED's jawboning is directed mainly towards suppression of gold as a result of a perceived "stronger" dollar with an increased .25% interest, or is it just that I am pissed that I bought gold at 1148 last week
duplicate
Gold goes down every damn day, does it not? Kind of sad. Added more this afternoon, though. Trading my plan. Maybe I can become the new fade trade. I figure the payroll report will result in further tankage, probably below $1100, so still holding only 2/3 of my full paper gold position. Hammer that gold down because I'll be buying...once I get fully long, though, expect my attitude toward market declines to turn decidedly less cavalier.
Belief
Not sure how 'Prepared to implement negative rates should the data indicate a downturn" is hawkish.
Hawkish next to what?
raising the interest rates is great because Obama is cool and Hillary is awesome...............................I learned that in school today after I leanred how to put on a condom with out my hands................
Is Michelle a Tranny?
Sarah Connor: The Machines had taken over the finance, but no one knew. At 15:51 EST on August 8th 2015. Skynet became self aware, and it didn't want to give up it's power over the worlds finance. Through those it controlled all politics.