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S&P Ends Red After 2015's Best Jobs Data Sparks Bond & Bullion Breakdown
The best jobs print in 2015 sparked a surge in the dollar and purge on everything else... quickly followed by this from some...
...and this from the mainstream media and their sponsoring talking heads.
* * *
Having dipped and ripped on a huge miss in October, after today's beat, the market couldn't quite pull it off...
WTI Crude was the worst-performer post-Payrolls as stocks desperately ramped to get back to unchanged...
On the day, Small Caps and Trannies were on fire (squeeze) as S&P was unablew to get there...
Despite the massive crush on VIX to get the S&P 500 above 2100 - which failed..
VIX (equity implied business risk) and HY bond spreads (credit implied business risks) remain notably decoupled...
Thanks to yet another big short squeeze...
Small Caps had a massive week... the 2nd biggest week since Oct 2014's Bullard Bounce
As Financials surged...
BABA was bashed (and thus YHOO yanked) after Chanos said he was shorting...
Credit markets did not bounce...
Treasury yields spiked after the jobs data and did not give much back as stocks sank... (notice that on the week 2Y actually outperformed with the belly worst)
We note that 2Y yields spiked to 95bps at their highs (and futures were halted) before fading back (still 6bps higher on the day) - the highest since May 2010...
The USD surged today on the payrolls beat... with AUD crashing and EURUSD
The USD Index hit 7-month hghs today... after biggest 3-week gain since March's peak...
The USD strength weighed heavy on all commodities with Copper managing to modestly outperform as gold, silver, and crude all huddled together down 4.5 to 5% on the week...
Gold is back under $1100, at August lows (down 8 straight days, and 12 of the last 13), and Silver down 7 straiught days to September lows...
Charts: Bloomberg
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laughable...
Except this crap is so predictable you can make serious paper off it.
The S&P was basically unchanged, off less than 1 point. Most of the indices, along with the NYSE and NASDAQ, were basically unchanged, except the RUT, which gained 0.76%. So it looks to me like the market doesn't really quite know what it wants to do, vis a vis the NFP. Or anything else, really. I still think the banksters slingshot us higher one last time before the big kablooie.
gee....and I thought earlier that a rate hike was now "without a doubt". Laughable. Good luck w/ that.
There's no fucking way they can even raise the rate 25 bps. I dare them. I double-dog dare Janet Felon to try it. If she does it won't last 30 days before shit implodes and they would then have to over-compensate by pushing rates down further into NIRP range of probably 10bps.
Good luck with that. But that will further the rhetoric about more and more NIRP world-wide and it will further more restrictions on cash also. That's what they want.
So hey...gee, maybe now in this free-writing theory of mine I just might see them hiking rates a little bit in Dec. just so they get their ultimate wish of NIRP and banning of cash.
Now days the fundos don't have a chance against the psychotic thinking of the CB scumbags.
I'd like to see the try it though still...just so we can watch the Trillions of shit junk crap they have on their books implode and then see all the Trillions in derivatives implode after that.
Of all the stock-piling I'm doing, popcorn is right up there so that I can sit back and enjoyr the show! ;-)
NahmNahmNahmNahmNahm
Not as laughable as the excuse the FED has to come up with in December to not raise rates.
Imagine the Fed telling the truth: "The United States is so heavily indebted that it cannot afford to pay even .25% interest on the national debt." Of course, we can´t be allowed to handle that kind of truth now can we.
Who cares, you'd have to be a fool to be in paper.
See, the "market" doesn't care about rates going up. The Fed commands you to have confidence
All US statistics are manufactured to meet the needs of the Fed and to keep the dollar strong. Inflation is at least 5% to 7% higher than official numbers (see the Chapwood Index) and unemployment is at least 10% to 15% higher (John Williams of Shadowstats has it around 23% versus official number of 5%)
Forward to more fraud.
thats not what theyre sayin on CNBC...
or Bloomberg....
or Fox Bizness...
how dare u question the experts....
now, just stop it...
Another Phony Payroll Jobs Number
Paul Craig Roberts
The Bureau of Labor Statistics announced today that the US economy created 271,000 jobs in October, a number substantially in excess of the expected 175,000 to 190,000 jobs. The unexpected job gain has dropped the unemployment rate to 5 percent. These two numbers will be the focus of the financial media presstitutes.
What is wrong with these numbers? Just about everything. First of all, 145,000 of the jobs, or 54%, are jobs arbitrarily added to the number by the birth-death model. The birth-death model provides an estimate of the net amount of unreported jobs lost to business closings and the unreported jobs created by new business openings. The model is based on a normally functioning economy unlike the one of the past seven years and thus overestimates the number of jobs from new business and underestimates the losses from closures. If we eliminate the birth-death model’s contribution, new jobs were 126,000.
Next, consider who got the 271,000 reported jobs. According to the Bureau of Labor Statistics, all of the new jobs plus some—378,000—went to those 55 years of age and older. However, males in the prime working age, 25 to 54 years of age, lost 119,000 jobs. What seems to have happened is that full time jobs were replaced with part time jobs for retirees. Multiple job holders increased by 109,000 in October, an indication that people who lost full time jobs had to take two or more part time jobs in order to make ends meet.
Now assume the 271,000 reported jobs in October is the real number, and not 126,000 or less, where are those jobs? According to the BLS not a single one is in manufacturing. The jobs are in personal services, mainly lowly paid jobs such as retail clerks, ambulatory health care service jobs, temporary help, and waitresses and bartenders.
For example, the BLS reports 44,000 new retail trade jobs, a questionable number in light of sluggish real retail sales. Possibly what is happening is that stores are turning a smaller number of full time jobs into a larger number of part time jobs in order to avoid benefit costs associated with full time workers.
The new reported jobs are essentially Third World type of jobs that do not produce sufficient income to form a household and do not produce exportable goods and services to help to bring down the large US trade deficit resulting from jobs offshoring.
The problem with the 5% unemployment rate is that it does not include any discoraged workers. When discouraged workers—those who have ceased looking for a job because there are no jobs to be found—are included the unemployment rate is about 23%.
http://www.paulcraigroberts.org/2015/11/06/another-phony-payroll-jobs-nu...
i know bro...
i read roberts also...
was just messin with u...
u and i know its all bullshit...
have a merry weekend despite the nonsense.....
They have to get the next war teed up before they can unleash the Kraken.
What could be the catalyst for next sell off?
Alex, I'll take "Nothing" for $100.
I thought strong dollar was bad for large caps??? Does anything make sense
Good for hegemons buying up the rest of the world.
it is if they have to repatriate profits. Nope nothing makes sense, the Fed has inverted the market. Perverse that bad news markets rally and good news markets dump. Gotta be painting tape for Happy Friday.
"The current round of gold price suppression has been much lengthened by derivatives, high-frequency trading, the intimidation of the gold-mining industry, and, perhaps just as important, the complicity of mainstream financial news organizations, which refuse to report about central bank intervention in the gold market and other markets even as this intervention has gone far beyond obvious.
"Yet the U.S. economists and fund managers Paul Brodsky and Lee Quaintance speculated a few years ago that the second possibility above -- a dramatic increase in the gold price -- is the objective of the major central banks, once the world's gold reserves have been redistributed to indemnify the nations that hold large foreign-exchange reserves in U.S. dollars and U.S. government debt:
http://www.gata.org/node/11373
"The recent unguarded comments of an Austrian central banker seem to lend support to such speculation:
http://www.gata.org/node/15898
Capitulate sheep and sell your hoard to China.
History: A Conspiracy of Ignorance
I have had a great life, and expect better for my children, having spent many an hour reading, and then moments sampling, the WSJ, not that its particulars where particularly unique. What one sees in the black hole depends upon distance, time, when and how long you take the snapshot. From Virginia, the symptoms of one atrocity created after another merge until the cause is lost upon the weary, with growing consumption as a cratering respite.
My favorite, obviously, is Les Mis, which I could read continuously, and replay the Rochester performances endlessly. Since this sub-phase began, with the assassination of JFK, by oil, for having the temerity to move the imagination of youngsters like myself from empire media stupidity to practical space exploration, I have directly sampled over 1000 organizations.
What I have learned, from my perspective, is: you can only change yourself, an example others may or may not follow, a little, and with tremendous effort, intelligently applied; space exploration is a psychological, not a physical or intellectual problem; and the universe responds, “why should I allow you to traverse that which is beautiful when you are so determined to remake everything you touch into something ugly, dirty and cheap?”
What I think is irrelevant; what you think is important, to me, communication. I write for kids, like myself, who began to buy 'crap' and eke out a living at age nine, recycling whatever made sense at the time. From seaman to ensign to admiral, what I learned was that there are two types of males, those that are serious about marriage and those who are not, and those who are not are headed to war, willingly or not, and what women do amongst themselves is there business, unless they happen to be your daughters, and you still keep your mouth shut, and open your ears.
Until recently, I kept my mouth shut. Back in the day, I was the latest and greatest golden one, and am still referred to as such in a few remaining quarters of the physical world, where I still talk less than 10% of the time. But now day fades to night.
Am I my brothers' keeper or my daughters' father? Does anyone really think that labor needs anyone to print and account for money? Why do the objects of money think that moneychangers change the money, a self-correcting transaction medium if left to reach its equilibrium? In the process of self-inflicted pain and misery, some do get stronger, but are they the strongest?
The two things I know is work and looking for work, to fill the queue. Babies shoot at their own frames/sec, so if you are anxious and see children as competition for scarce resources, instead of the solution, as communists do, you have lost before you began. Whether Grace or the communists holding her are caught in the trap is a matter of perspective.
If the American version of communism is so exceptional, why must the State kidnap my children, in violation of its own laws?
Funny, the communists make Grace sick, turn her into a science project, and can't find anything medically wrong with her, not that I mind them teaching her that communism is repugnant right out of the gate. I have advanced the DNA in my line and that's my job; let God sort out the rest. Grace has no fear of communists, and theoretically she is in the worst possible position.
Money is not a yardstick. Money has created the least effective healthcare, education and criminal justice systems in History, unless you are measuring by obesity, ignorance and corruption. Never again have so many been paralyzed by denial, anger and depression, watching their evolution of the next Hitler, as Russian, Chinese and European communists stalk their prey, more communists marching to the DNA churn pool.
Hold them to gold or hold them to the dollar, WSJ or no, it matters not because what man knows in the end is but a grain of sand on a beach, subject to the will of an ocean. “The water below was thus separated from the water above.” The US Navy was always seeking AI code and a bomb for Wall Street, to suppress the latest insurrection. With gold on Pluto or paper, I think not.
I am not here to persuade communists, caught in their own emotional trap, of irrefutable facts. Communism is the noise you filter out to see what you seek, which the planet is far better at managing than I. So long as communists can arbitrarily inflate sunk asset prices and roll over accelerating depreciation, their money is worthless, hence the participation rate.
“This is the fastest rate in 25 years, excluding the final blow-off phase of the Lehman boom,” a parallel bazooka with all cylinders firing, into a black hole, assuming there is a brake, crack me up. The communists make a movie and talk to each other like it's life, hoping no one is so ill-mannered as to point out the obvious, measuring confidence on shrinking volume is not production. But thank you for your thoughtful response.
So, in Spokane the other day, with an apprentice, and some morons at the bus stop are yelling that everyone is going to hell but them. Get on the bus, and everyone starts talking to each other about the value of mercy, my wife's favorite subject. Do you remember that girl in the front row of English class, with a collection of devotionals, who always had her hand up, and always answered that people are beautiful and wonderfully made?
Balancing my wife is not for the faint of heart, but if the communists want to try, they are certainly welcome to do so. It's like watching Mr. Magoo in a dress, in 28 parallel universes, created by the State.
Fiat assets as a store of value?...and we come full circle again. Back to the Wizard...I don't follow story lines well anymore, but that star kid on the broom is the Fed, and the wizards controlling the game are in the stands. They haven't revealed themselves yet, but they will, because they can't get out. Careful, when you play with other people's technology.
Thieves voting self-serving rights to others, in a sandbox they stole, is not an economy. And communists going to war is not a crisis; it's the status quo. From the perspective of labor, selling the future short, the history of communism and fascism repeating itself, is neither good nor evil; it's just stupid.
A Brit gets a Nobel Peace prize in economics for stating the obvious, labor is being hunted; be afraid, be very afraid. Like any juvenile peer pressure group, the communists become increasingly fascist as they try to force the remainder to participate. The Fed knows exactly who isn't participating, courtesy of Silicon Valley, the latest and greatest example of military intelligence working for moneychangers, and if you think the Fed is going to win WWIII, you haven't read your History.
Funny, the history of communism is punctuated by mass suicide, by consumers with nothing to consume but cardboard food in a cardboard box. Build all the robots you like, on the way to Japan, assuming that labor is a cost. Chess is not life, and the Queen is not powerful.
An empire is nothing more than a shared illusion; there is no safe public debt instrument in an actuarial ponzi at the end of an empire cycle. Never saw that coming.
(Hint for the trackers: my apprentice was with me twice, for 15 minutes.)
for some reason I enjoy reading your posts even though I do not understand them
They're playing your song again... https://www.youtube.com/watch?v=NOqcdiwjnSE
But....but....but...Jim Sinclair said back in August....that his "contacts" promised a higher price....
Oh I feel so used...
VIX realizes the fix is in. If a market can't decline, then volatility is moot.
The power of the FED compels you....
The power of the FED compels you...
Yes They Can!!!
..get the dollar index to 150 by New Years!!!
The rest of the world will be broke and will have moved on to a currency system that functions but by god...They CAn!!!
oh..and Jim Willie ...who is completely insane...will look like the smartest guy in the room...should be fun...
The TV market "experts" are complicit with the "NEWS" reporters. Presstitutes all. Their lies and or their idiocy is doing great harm to tens of millions of struggling Americans that don't realize the fraud being perpetrated at their expense. Yes, ignorance of the law is no excuse but these TV crooks and cronies should be held to account one day for crimes against the National Interest. And yes, treason, by way of clearing the obstacles and making a smooth road for the perpetrators of crimes against humanity.
Their low viewership is irrelevent since any words of truth from them would be picked up by the occasional controversy seeking presstitute who just isn't sure what he's allowed to say.
The ENTIRE sham appears to all be about suppressing real money and things of real value.
I expect that we will one day see Mr. Yellen's head on a stick.