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Time For A Rate Cut? Dollar Surge Sparks Stocks, Credit, Crude Purge
From this - "See, rate hikes are awesome..."
To this...
US equities quickly tumbled as the NY session opened, erasing Yellen's gains, then trod water... then ended the day "NOT OFF THE LOWS"
FANGs puked into the close...
Leaving S&P, and Dow back in the red for 2015...
And while stocks are up for the week, they have just managed to clawback losses from last Thursday's pre-3rd-Avenue close...
The concentration (or lack of breadth) is becoming ridiculous...
Stocks caught down to credit markets today, which did not explode as exubersatly as stocks yesterday... Today's 24bps decompression in HYCDX is the biggest (ex rolls and last Thursday) widening since October 2014.
HYG broke below support...
But we note that the tip of the spear in credit continues to utterly collapse...
The Long-Bond is now the best-performing asset post-Fed, and crude worst with Gold notably weak...
Treasury yields tumbled with the long-end outperforming...
Cough "policy error" cough...
With the curve smashing 2s30s back below 200bps to 9-month lows...
And financials waking up to reality just a little...
The USDollar was well bid today... extending gains from the immediate "sell the news" reaction after The Fed...
Rallying against all the majors...
Of serious note in FX markets was the 9th consecutive weakening of The Yuan... (longest streak since 2008)
And the collapse of the Argentine Peso... plunging 30% to catch up with its unofficial rate...
And some volatility in Mexican Peso as they raised rates...
USDollar strength sparked weakness across the entire commodity complex with gold and silver suffering...
And crude testing new cycle lows...
And gold tumbled near cycle lows...
Charts: Bloomberg
Bonus Chart: Well, ok it's not a chart...but still...
"Who is: Martin Shkreli?" $KBIO pic.twitter.com/jWrLKQmVj3
— Jeopardy! Stocks (@JeopardyStocks) December 17, 2015
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LOL!!!!
is it just me or does anyone else feel the INSANITY????
Merry Fucking Christmas Bitches!!!!!!
hope 2016 is Better than 2015 has been..
not that that is likely Mind you..
Well that didn't take long.
Hey, where is the Candy-man, Janet Yellen? We're going to need a lot moar candy!...
Session lows. Party like it's 2008.
That's all I'm gonna say.
Hannukah is over now. As long as the GS jews are making digital paper sheckels by frontrunning manipulated markets on both sides of the trade, everybody goes home happy (some 'RICHER' than other, depending on how you decide to measure your wealth & sense of self importance).
Funny, Japan tried the same thing in 2007:
http://d1udmfvw0p7cd2.cloudfront.net/wp-content/uploads/2013/02/nb20070222a1.jpg
Here's how that turned out:
http://theforexchampionship.com/wp-content/uploads/2014/01/BoJ-1.jpg
NIRP here we come...
When Yellen raised rates yesterday we of course had high volatility. Price gap on NQ futures at 4576 when liftoff occurred at exactly 1pm and 48 seconds central time. If you have a NQ chart pull it up on the 3-16 contract. Of course price will come back and fill this gap. This is just a gap fill because the market closed at 4568 today at 3:15pm central time.
Tomorrow will be the telling story.
quiero a Christmas rally now!!!
Most of us expected this sell off today after yesterday's rise.
I'm surprised they did raise rates. Things must be shittier than we image.
I think it will be. At this rate gold and silver companies will be paying you to haul their 'precious' metal away
In the same vein:
Gasoline is free, you pay the shipping and tax.
companies will be paying you to haul their 'precious' metal away
I volunteer.....
Thanks Garts, you did it again. Anybody with any trading knowledge knows to never trust the market reaction the day of a fed decision. The day after is always more important. World renowned, that's funny. Only as a pompous, clueless tool.
No Satan claws rally
Grinch come early.
When this is over all assets will be priced at $0 but the dollar won't be able to buy any of them.
Soul Glow, the dollar will be priced at zero so...fair trade?
7 ways the Federal Reserve rate hike will affect you in 2016
http://www.msn.com/en-us/money/personalfinance/7-ways-the-federal-reserv...
Basically, ARMs and HELOCs, auto loans and credit card rates will rise.
Bullish!
What is bitcoin?
Not off the lows. So sorry, Maria!
What The Hell Happened ???? < insert shocked face >
Reality...it's a bitch.
At least you didn’t buy Silver yesterday. Whew.
you made me try to clean my screen. well done
Total losses from silver's price development - $50.
Knowing that you traded fiat paper for an eternal store of value - priceless!
Well we got Friday's mess out of the way a day early.
I doubt that. I see a gap lower tomorrow and a nasty, nasty day in the markets.
Let's hope so.
Chinamen work the weekends.
I wrote this morning at 6 that this will probably be the shortest rate raising cycle in history, measured in hours when the smoke clears.
What the hell happened?!? It was like someone flipped the damn boat over!!
she went down down down
in a burnin ring of fiat
and it burns burns burns
that fiat paper, that fiat paper.
haha ha, suck it DXY
It seems like 3:30 Ramp Capital always goes AWOL on OpEX week.
why, oh why, does everything cling to the dust?
Gives a good idea where the FTSE and DAX start tomorrow! (must remember Blue Steets words)
The humility of these people knows no bounds.
Merry Christmas one and all.
Merry solstice.
Happ christmakwaanzakah!
They're all just celebrating the solstice. Might as well go straight to the real thing.
Insanity is doing the same thing Japan has done for 28+ years, and expecting a different result.
Fed should have normalized rates starting 4-5 years ago. They are WAY behind. And I don't care how many zombie banks die from a 25bp increase -- they were supposed to die back in 2008, but for some very corrupt Treasury secretaries and Fed crook.
EVERY SWINGING PENIS AND VAGINA was informed ..
We could have done a lot of things, at least beginning in the Spring of 2006 ..
Believe me, EVERY SWINGING PENIS AND VAGINA was informed ..
http://wantarevelations.com/2014/01/wanta-plan-macro-financial-economic-...
From: Ambassador Lee Emil Wanta
Sent: Sunday, January 26, 2014 4:07 PM
To: Frau Judith Dueringer
Cc: POTUS_U.S. President Barack H. Obama ; U.S. President Barack H. Obama ; POTUS_Office of the President ; OVP_Vice President Joe Biden ; OVP_Alan L Hoffman ; OVP_Chief of Staff Bruce Reed ; Chief Justice_John G Roberts ; US Supreme Court_Chief Justice John G Roberts ; United Nations Secretary General Ban Ki-moon ; FedResSystem Inspector General ; FBI_Houston ; FBI_Peter Carr ; FBI_Director James Comey ; US Department of Justice ; US Department of the Treasury ; FBI_WSH_Assistant Director_Shawn Henry ; WH_Chief of Staff_Denis McDonough ; Governor Scott Walker ; IMF_Christine Lagarde_M.D. ; W.H. Counsel Kathryn Ruemmler ; IMF_Public Affairs ; IMF_Media Relations ; Wolf Richter ; U.S. SECY TREASURY_JACK LEW ; First Lady_Michelle Obama ; OMB_President Barack Obama ; FRB_President Janet L Yellen ; WI_Governor Scott Walker
Subject: Austrian Inland Tax Resident_New Republic/USA Financial Group, Ltd. Gesellschaft, Wien, Austria_A-1010
For the rest of the story ..
https://app.box.com/s/hfgvcqg7gqh7i27at6sv53ywu87lwarp (Read Me First)
So, when WE The People are ready to assert our claim and notice to TPTB, they cannot come back and simply say in their Nuremberg trial ..................... We Didn't Get The Memo ..
It would be great if we had some long weekends coming up to hide the pain. ...... Voila !!!
That is the first ZH headline that actually cracked me up. Funny stuff.
There were warnings that there are a gazillion $ worth of puts below the market that could take it all the way down to about 1800 before Friday close. Maybe that's what is playing out. We'll know soon... if futures decline so that there is a gap lower tomorrow morning. I have a hunch that's what's going to happen. Not good.
When Black Friday comes...
I'll stand down by the door
And catch the gray men when they dive from the fourteenth floor
When black Friday comes, I'll collect everything I'm owed
And before my friends find out I'll be on the road
http://www.songfacts.com/detail.php?id=3415
the cuervo gold, fine columbian will make that night a wonderful thing.
a world become one
of salads and sun
only a fool would say that
.........I'll fly down to Muswellbrook,gonna strike all the big red words from my little black book....
Sad to say Australia leads the way as a sycophantic slave of the One World Government and there is no refuge here.
nwo
that Gold and Silver phony paper price slam was hilarious...
and it occured rithgt at the open of---------wait for it...
NEW YORK...
how crazy is that?
DEATH TO THE MONEYCHANGERS.
and the cheap 50ozs of Silver i took from u this morning.....
I don't complain when people are good enough to give me 50% off.
X-mas comes early, as traders were rewarded with a rare pre-OPEX tradable day, likely courtesy of the increasingly reliable post Yellen ‘correction’, in which the algos apply white-out to indices in an impasto thick enough to make Van Gogh blush, then write in a truer value in a thick, black Sharpie marker, with a strong enough scent to make a manatee high at a depth of 20,000 leagues.
Interesting that in most major indices, traders were rewarded for waiting out the final 15-min bar’s dump, while in the Russell (obviously the world’s greatest index), it was all over by a late lunchtime – patient shorts waiting out the final 3 hrs added nothing to the bottom line. I would say that’s because RUT traders are more creative, and have more pressing things to do (books to read, films to watch, music to explore, meals to cook) than curse at algos all afternoon, but that would betray my obvious bias :)
In any event, trading is back with a vengeance ...
Opex or no opex, this fucker has no heartbeat unless the Tribe talks it up....
Wow, silver got slammed.
don't worry. any second now, probably january the dollar will slide back to 85 with the market in tow.
Options Friday comiing to a theater near you.
YEAH!!! RAISING RATES INTO A RECESSION MOTHERFUCKERS!!! HOW DO YOU LIKE THAT!!!! THAT'S HOW THE FED ROLLS!!
What's with the new Boner? Ryan has a Jihadi Beard, so I guess he Went Over.
FED is raising rates so that they can lower rates
Tinfoil Hat:
If US "support" ISIS (or at least the anti-Assad fighter) could it be an hidden strategy to make oil worthless and to crush Russia economy so that he can't wage war in Syria anymore ?
Russia can't survive long with a oil at 30, her budget won't be balanced anymore and war cost a lot of money.
The USDRUB pair is going straight down and it doesn't seem to stop.
GoldSilverBitcoinBug: Russia can't survive long with a oil at 30, her budget won't be balanced anymore and war cost a lot of money.
It'll sting Russia, where some really hardy people used to adversity live. Russia is awash in natural resources. Russia does not have bases in 130+ countries either... so this little regional dust-up in Syria is hardly a war (yet).
Now...oil @ $30 will positively CRUSH the House of Saud...a group of pre-teen ball fondlers, Saudi Arabia has oil...and sand and a bunch of poofter college frat boi's running their "defence".
real men made a living when interest rates were 7 or 10% . now lttle girly men can't make it with just a little bitty raise. wat a fucking sad world, its a fucking obama faggatory world and it shows, girly men of the new milinnia. this whisky is to you sirs-ettes
7% would instant explode the world economic system today, I am surprised that she even raised the rate !
Just wait a couple of months that SP500 is down about 30 % or so and she launch another round of QE and ZIRP...
Thank you for the graph showing the unofficial implied Argentinian Peso rate, I've been looking forward to it all week.
My cousin says "It´s all good." He´s in jail for robbing an empty house.
Have mercy! The PPT had to unload all those positions they had to enter in yesterday. And now suddently everything is starting to make sense.
The USD is going to get taken down no matter Goldman thinks. I have been saying it for weeks. I will keep saying it. It is too overvalued and everyone knows it. The exchange rates are gutting the economy. The Fed and the Treasury are going to take them down. FOREX rates are rigged. Right now the USD being this high is the policy error.
The .1% can't buy up all the worlds assets with cheap devalued currency, welcome to the controlled demolition. There's no more money to be squeezed out of the slaves, the big boys are taking their chips off the table and going into a holding pattern untill the weak hands fold, swoop in and buy the EARTH. The biggest and bestest pump and dump of all time before the zombie hoards start marching. If you think they will intentionally destroy their own wealth tied up in the purchasing power of the dollar you're fucking retarded.
The ".1%" are rather dependent on the survival of the United States.
You can turn only so much of the population into economic "zeros"
before the USA becomes "ineffective". Right now, the Russky's
are in the process of demonstrating that point in Syria for the
whole world to see... and I don't actually think they know
they are doing it. If they did they'd probably stop just to
help keep the charade alive.
I take it back!! I take it back!! Pretend it didn't happen!!! ~ Janet "Just Kiddin'" Yellen
Honestly the Dow dropping just 252 is really no big deal, don't know why everyone is overreacting, now if we drop 2000 in the next week, that will be something to get excited about.
Ha. Gotta laugh Peter Schiff had it right.... they're gonna do the two step now....one foot forward, one foot back.
Too fukken funnee.
time for the fed to get the stock buying printing press going
No way! No rate cuts from Janet (I've got bigger balls than Krugman) Yellen. In fact BRING IT!!! MOAR RATE RISES!!!
You knew I was going to do it. I bought a bunch of bullion silver this morning but that was not enough. I had to go visit my local coin dealer. Gold bullion walked out his door and in my possession. All I was doing was waiting for the banktards to pull this bullshit so I could get a better price if only marginally. Gold is gold my friends and once added to the stack that is where it stays. Of course that was a cash deal. Today was a pretty good day.
I am not saying our fine readership should do the same. Never go full retard. I have been at this for 16 years and I have my own ideas and never lost a penny in PM's. Never. The reason why? Time.
SOMEBODY GET PETER SHIFF ON THE PHONE!!!!!!!!!