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Markets In Turmoil - Bonds, Stocks, & Dollar Dumbstruck After Disappointing Draghi & Dire Data
Draghi has one message for everyone today...
US equities had their worst day since September 28th...
US Treasuries were a bloodbath...
European equities were an even bigger bloodbath...
As DAX gave back all its Paris gains... (down over 500 points and back below 10,700)
As European bonds utterly crashed... (Bunds seen here across the curve were massive percentage moves)
All driven by The 3 'D's...
- Domestic Terrorism hinted at... and the use of the word 'radicalized' spooked a number of markets
- Draghi Disappointed - grossly over-promised and under-delivered, trapped in a corner of QE limitations and admitt8ing it failed.
- Dire Data - US macro plunged to its lowest level in 6 months... (bonds seem to get it)... with durable goods, factory orders, and ISM Services all crushing The Fed's narrative.
* * *
On the day, Trannies were worst but broadly speaking, the entire equity market dumped in a highly correlated manner... (notthe bounce into the EU Close then dump)
FANGs are not helping...
Futures show it's been quite a week and now all major indices are red post-Russia-Turkey...
After Europe closed, stocks kept falling...
Some notable breaks:
- All major US equity indices are now negative year-to-date (aside from NASDAQ)
- S&P 500 broke below its 200DMA (also got close to it 50DMA before bouncing)
- Dow broke below its 200DMA
- Small Caps (Russell 2000) broke below its 100DMA
- Trannies broke below all technical support to 2 month lows
Biotechs plunged from the 100DMA to break the 50DMA...
Commentators were confused why Energy stocks dropped while oil rose... this is why - they had decoupled from raw reality a month ago...
VIX soared over 3 handles - almost touching 20 and breaking above its 50, 100, and 200DMA... This was thebiggest percentage rise in VIX since Black Monday
Treasuries were a disaster, extending losses after Europe closed...
Credit markets have been crushed with the junkiest junk now at 6 year high yields...
The USD Index crashed 2.25% - its biggest single-day drop since March 2009.... (having hit 12 year highs yesterday) Put another way - today's lack of ECB action had the same effect on the USD as The Fed's unleashing of QE in 2009!
Led by Swissy and EUR strength...
Gold is now the week's biggest gainer in the commodity space (crude the loser) as the entire space picked up on USD weakness...
Crude's been volatile heading into tomorrow...
Charts: Bloomberg
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nice try there at the end u Wall. St. MoneyChanger fucks...
Da' Bankers Rant: Yes, I feel your sentiment but for a moment please feel the pain and anguish of all those rollin' at the pigs trough. What happens when the pig trough is no longer full of Draghi money and those poor piggies must go hungry? For the love of little green apples, football, apple pie and the keebler elves, think about the kids and unicorns you selfish bastards. Don't let Draghi ruin it for everyone. Call Bernanke and Yellin' woman, bet they have balls to pull that lever.
Stop the PRESSES!!!
http://www.msn.com/en-us/sports/nfl/coldplay-to-perform-at-super-bowl-ha...
Wait!!! Who TF? is 'COLDPLAY'
Nevermind, CARRY ON... Pardon the interruption!... Tylers. PLEASE BAN ME... NOW!!! (I deserve it)
Alt music gone mainstream
Mediocre mainstream music.
DavidC
Carbon tyranny, bitchez! what can be made without fire? NOTHING. KlimatShange (TM) will put the nail in the coffin of the global ekonomi.
https://www.youtube.com/watch?v=bR4u63gQXU0
Coldplay is actually pretty good while "radicalized markets" are sorta bad ;-)
I go for the old stuff in situations like this. Thinking more along the lines of Led Zeppelin, 'When The Levee Breaks'.
NOBODY puts in a 1:24 instrumental before you even get to the first lyrics any more.
https://www.youtube.com/watch?v=WbrjRKB586s
I love a good blues harp...but I can only take about 30 seconds of any other kind. Instead, gimme some Ray Manzarek keyboard to while away the time.
Who's the sorta idiot that downvoted you??? I like Coldplay too...
OBTW: messymerry got blocked...WTF!!!
Spoctor Din
So...what were they saying about the economy being in recovery instead of floating on a sea of liquidity?
" We bum fucked some folks "
" What else is new ? "
" It's what we do. "
Time to fire up an airport snow blower, and herd the Masters Of The Universe through the portal.
There's gotta be a chain of restaurants in North Korea that will put the end result to good use.
There is only one way to stop this problem caused by central planning: We need to create a second FED in order to regulate the current FED that is currently regulating the currency in our regulated economy....
Anyone else see a pattern here that needs to be changed?
Just love the late calendar year holiday colors in those charts. Really gets me in that non-denominationally festive mood!
Yes about time...for some holiday cheer.
They have stolen enough...what's left to take ?
And just about the time we get good and ready for the next financial melt-down..... it won't happen. Head of one of the 3 major central banks will whisper "easing" and everything with be rainbows and skittle-shitting unicorns again.
According to physics, first you have a supernova before it collapses into a blackhole......
Marshawn Lynch would disapprove of this comment.
"And just about the time we get good and ready for the next financial melt-down....."
Somebody doesn´t feel like sticking around. Exit, stage left, anyone?
http://www.reuters.com/article/2015/12/02/cme-moves-hunnable-idUSL8N13R3...
UPDATE 1-CME Group metals director Harriet Hunnable to leave company* Hunnable to leave CME Group on Dec 11
* Joined company in 2011 from Macquarie (Adds background, detail)
Dec 2 CME Group Inc's executive director for metals products, Harriet Hunnable, will leave the company later this month, a CME spokesman said on Wednesday.
Hunnable, who has been with futures market operator CME Group since early 2011, was responsible for developing the company's precious metals portfolio. The group's U.S. gold futures contracts are the most liquid in the world.
"She resigned, and she leaves on 11 December," the spokesman said, declining to give further details. Hunnable was not immediately available to comment.
************
The rats are leaving the ship gentleman!
How quaint. Too bad it won't matter unless she holes-up in an igloo at the South Pole. ANYONE who has fleeced the people will be brought to JUSTICE. No one gets out alive....
I vomited my skittles this time instead of letting it pass :)
Speaking of shitting unicorns.
https://www.youtube.com/channel/UCTDpLx4kaSJ6-A8tCl8u6VQ
https://www.youtube.com/channel/UCTDpLx4kaSJ6-A8tCl8u6VQ
This time will be a currency meltdown as opposed to the more benign financial meltdown. You can't print your way out of 20% inflation, can't raise rates enough to make a difference unless they let markets drop by 50% or more.
there not very cheerie on CNBS right now....
so sorry....
Time to cue up the market anthem.... https://www.youtube.com/watch?v=vBecM3CQVD8
More appropriate: https://www.youtube.com/watch?v=-LSxpxjMQ9c
ugh ... sorry, boyz ...hear the sound of cowbell moving further into the distance...?
ok, ok i apoligize for saying< BTFD y'day. sorry, but this time BT(MF)(GD)...D
Im amazed how one person on the planet can open their trap and do so much damage just from words.
How about Neville Chamberlain?
. But then again, look how much damage Muhammad did?
Good point Marx, that poor Sonny Liston
Easy to explain. You gotta be a bonafide PINKO FASCIST COMMIE to react to words from your Master---the enemy of Freedom and people everywhere!
https://thinkpatriot.wordpress.com/2015/11/10/a-measure-of-propagandas-p...
A last chance to lose your fortune, how can you possibly pass up chasing the last dip?
https://thinkpatriot.wordpress.com/2015/10/27/ignoring-the-absolutely-in...
long booze, cigs, coffee, aspirns(and ibo) and spare tyme to make a killin in da markets...
WOW! I'm glad I got out of my dollar positions just in time or I would have been down 9% since last week.
Better start buying some index puts tomorrowmorning :)
Hush hush, back to your hidey hole and perma Bruxelles lock down you go! There's a terrorist in your back yard right now! Close the blinds!
Post some cat pics or something..
You made a mistake, laws of physics. The bounce back
Any volume? Has anyone really been buying the VIX or FAZ?
I see us range-bound until they start knocking down the FRN in earnest. They (The Fed) has to, period. Look at the trade deficit! Trade is the only thing that matters.
0.25 raise and QE!
fucking fuller retard!
Bought 6 weeks ago and renewed my standing sell order yesterday for VXX at $44 - probably too low - but I welcome the trade
QUeee! Here we come! Damn... Out of ammo...
Prrrrrrfect double top, Batman!
Virtually every equity market on the planet now is a proxy for QE from one of the CB's. And if their regional CB isn't spreading the lube than it's chatter about another CB doing it.
And now...QE will be deemed shortly an unqualified failure of historical (nay biblical) proportions. That doesn't mean the CB will continue via subterfuge to print.
But the days are numbered.
Laff for the day : Uber now worth more than 80% of the companies in the S&P 500
http://www.bloomberg.com/news/articles/2015-12-03/uber-s-latest-funding-round-gives-it-a-larger-valuation-than-80-percent-of-the-s-p-500
The dudes that were dreaming about Ipoing hitchhiking but too stoned to make it happen are barfing their guts out
VCs here are funding restaurant delivery services. I mean they're throwing hundreds of millions at them. It's fucking weird, what do they imagine is going to happen?
What... The... Fuck? Bubble? Oh yes.
"gold is now the weeks biggest gainer" - where is all the gold bashers now.... Good job all that paper is out there because the world just shat its pants....
www.teamramgold.com/about-us get on the bullion train while you still can
Even though the dollar index got crushed today, this is the first time in my memory that a Fed Chairman has spoken to Congress and gold hasn't been clobbered. That happens EVERY time and I mean EVERY time. Today it did not. The Exchange Stabilization Fund thugs must have been busy putting out other fires today in the name of the Almighty Federal Government.
fear not sir John... the delay is only temporary... the beating will resume and continue until paper improves
Gold's +.7% while the USD was -2.0% amounts to a clobbering.
Premiums for Fizz are Up, delivery time is longer from my suppliers.
Gold, Bitches!
When the blowhorn starts blaming central banks for market swings, you know the gig is up.
paging Steve LIEsman?
I can't buy the Draghi disappointment meme, nothing has changed Euro wise, it's still a piece of shit floating along the bottom: hence what we are seeing today is nothing more than a case of unrealized expectations! Surely that can't last... I can't help come to the conclusion what we are seeing is a well- telegraphed squeeze. Too fishy, the FT calling it early and being wrong, then the market carrying on regardless when it was found to be false...have my doubts here.
"FANGs are not helping..."
By the look of the chart, the FANGS cut deep.
The data has been disappointing for quite a while - the only difference now is that the Central Banks are out of ammo.
I keep adding to my ammo. Maybe I can make a deal to sell Yellen some if she can print up some gold bullion for me.
Yellen spoke to Congress, she thanked them for raising the debt ceiling which would enable the government to monetize more spending. she also said she supports wage hikes for fast wood workers, and said she will try to hedonically weight that to about 90% of the labor market. She also said housing was strong, not in a bubble and that buying a ranch house worth at least 1/2million would give the buyer fast track immigration status. She declined to comment on the rumor that ISIS was using NATO oil money to buy US homes, and that no refugees would be allowed to use that program to gain illegal entry into this country. In a separate an initiate is on the ballot in Montana to make them an Islamic state. On the question of why she was speaking on the same day at Mario Draghi, she shrugged and said, Bunga Bunga.
If fast wood workers can get a raise then so should fast food workers IMHO.
Yellen is cock blocking her fiduciary responsibility to America.
Regarding your statement of fast food workers. Watch your sales figures plummet.
IN addition mr yellen promised to use a different bowl for her haircuts if markets don't act properly.
Whatever it takes folks! (just not yet).
Why all the worry? Janet said raising the rate will prove the economy has recovered.
Save your ammo. Just start taking out the central banking planners. Illegal immigrants farse will disperse.
Sheriff Joe calls on 250,000 armed citizens to take matters into own hands...
Sounds like a plan...
Where's Gartman today?
He's still shaking the magic 8 ball for economic forecast.
Imagine what would happen when the ECB hiked rates, hint ...
Probably has something to do with the climate change?
¯\_(?)_/¯
Bill Gross and other money managers know the plan is to keep on printing and at a faster rate in the face of deteriorating economics.
All those Baby-boomers being added every day. Demographics going to kill it.
No matter how many more 10's of thousands of H1Bs and L1s they pull in from overseas.
Funds going to try to be 'clever' and sell before year end and show they went to cash 'before' it went pear shaped?
In a semi sane market, stocks would be down 50% at this point. Would have been since mid 2014.
There's something "epic" happening. I see it everywhere except western stock markets. It shows up in the themes of the US Dollar, the Ruble, the Euro and Oil.
The 'essence' of western stock markets is the Pinko Fascist Commie belief; has been that way since..., probably the early 1980's. Most people in western stock markets would not consider themselves as such, and many 'individuals' are not. However, the 'Big' money is Pinko Fascist Commie through and through. Even the managers of this big money would object to that characterization, but their actions expose them...
Wonder who got "SQUEEZED" today?...Wasn't Me!
one day to gloat
"one day to gloat"
Those days are diamonds.
If you sit in on a poker game and don’t see a sucker, get up. You’re the sucker.
Haven't you learned not to short this market yet?
Your comment tells me that you worship the Pinko Fascist Commies. A sheep learns very quick whom to OBEY....
then go get em, tiger.
Can we have another 50 EFFING charts to clog up my hard drive? _JOHNLGALT
if it not 2000 points its nothing