Bond Blooodbath - Treasuries Haven't Seen A Longer Losing-Streak Than This In 43 Years

Tyler Durden's picture

Overnight saw Chinese money markets start to get angry and the Yuan tumble, Draghi didn't help, and Spicer's Glass-Steagal comments did not create hope - with credit, copper, crude, emerging markets, risk-parity funds, and now china all crumbling, is tomorrow's payroll print the catalyst for stocks to wake up?

 

The Dow was desperately saved from being down 6 days in a row (which would have been the longest losing streak since the day before the election)...

Dow, S&P, and Nasdaq clung to unchanged from before the Trump speech ramp...

 

VIX was pressured once again to get The Dow green

 

Small Caps broke below the 50DMA...

 

Banks were stunned lower after Sean Spicer confirmed Trump's commitment to Glass-Steagal...

 

Stocks remain adrfit from tightening financial conditions...

 

VIX is entirely decoupled from stocks...

 

Risk Parity funds are delevering hard...

 

Which explain sthe ongoing selling in both bonds and stocks...

 

Emerging Market stocks have collapsed - breaking away from the correlated Trump trade hype...

 

Another ugly day for bonds but we note both 10Y and 30Y remain below the post-fed rate hike high yields

 

Treasury yields have now risen for 9 straight days - the 10Y Treasury bond has not seen a longer streak of losses since April 1974...

10Y yields rose 9 straight days in June 2006 (fell 72bps in next month), and March 2012 (fell 96bps in next 2 months)

Debt Ceiling anxiety is becoming very clear in the T-Bill market - the yield curve across the March month-end is massively inverted...

 

As Treasury Cash Balance crashes towards zero...

 

High yield credit ETFs saw the biggest outflows since before the election...

 

As Credit markets crash to 3-month lows (near the 200DMA)..

 

And HY credit spreads have widened for 6 straight days - biggets spike since May 2016

 

 

EUR rallied (and Bund yields spiked) after Draghi didn't offer too much...

 

March continues to be ugly for commodities...

 

Gold futures are down 8 straight days - the longest streak since May 2016 (which notably marked the swing lows and saw the precious metal rally 15% in the next month)

 

WTI and RBOB were monkeyhammered lower - smashing near pre-OPEC-Cut-Deal lows...

 

And Oil Vol is starting to spike...

 

Will stocks start to notice?

 

Bitcoin crossed back above Gold again...

 

And finally, this...

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sorocaba's picture

 

<<< B U Y

<<< S E L L

Logan 5's picture
Logan 5 (not verified) sorocaba Mar 9, 2017 4:08 PM

"No Mr. Bond I expect you to die"

~Auric Goldfinger

El Oregonian's picture

It doesn't really matter as long as you are playing with other people's money. It doesn't get serious until you have to start using your own.

prime american's picture
prime american (not verified) El Oregonian Mar 9, 2017 4:45 PM

I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... http://bit.ly/2jdTzrM

Jim Sampson's picture

How does that fuck stay around but I make a fucking Jew joke and poof!

USisCorrupt's picture

I'm with TRUMP !

Who really gives a Rat's Ass what the FAKE Markets do?

Hit the RESET Already !

The Management's picture

Clearly the inflammation rate is not the .gov 2.5%

Giant Meteor's picture

You must not be factoring in the hedonic adjusting ..

Giant Meteor's picture

Who do you think is employing him ?

MrNoItAll's picture

You ain't doing shit but posting garbage repeatedly, fishing for suckers.

Troy Ounce's picture

 

Funny Raffle.  Just hold on with both hands to the paper promise. Everything will be OK. 

Dr. Engali's picture

I don't know, let me consult Gartman before answering.

post turtle saver's picture

and oil is somehow supposed to rise in price in this environment... LOL

Squid Viscous's picture

dow "industrials" green, S and Piss green, naz and q's green!
mission accomplished, ball's in your court you midget jew troll cunt Yellen...

turnball the banker's picture
turnball the banker (not verified) Mar 9, 2017 4:05 PM

fuck it

Hohum's picture

The pets.com NASDAQ began its descent on March 10, 2000.  Hmmm.

adr's picture

Oh I remember it well. My roommate's mother was telling me when she came to visit for St. Paddy's day about all the money she had made in the stock market. Oracle, Lucent, etc. She fully expected her holdings to double or triple again.

I looked right at her and said, "For the love of god, sell it all. Take your gambling winnings and go home. This thing is going to crash in an epic way and if you don't listen you will be wiped out."

Being a young college student, she thought I didn't have a clue. We had just had a career day where TWO companies showed up to interview 50 students. The previous year there were over 100. In 1999 everyone graduated with multiple job offers, BMW signing bonuses, and vacation welcome packages to anywhere in the world. 2000, only two people graduated with a job, after one year everyone who did get a job had lost it, even some lost two or three.

I myself lasted two weeks before the wondrous mega billion dollar corporation I signed with was on the auction block. Took me ten years to get back to the salary level I started at.

847328_3527's picture

I don't care about stawks anymore since mos thtings actually go down except for banks and a handful of manipulated companies and the social media.

 

I'd be happy if Trump raised saving rates to 3% or more.

Kaiser Sousa's picture

That's right everyone...u just witnessed a 80 plus point move on the Dow Jones Propaganda Index to place it in the green ALL N THE LAST HOUR of "trading" ON NO POSITVE MACRO-ECONOMIC NEWS OR DATA WHATSOFUCKINGEVER...

AND THEN THERE WERE THE PHONY PAPER PRICE ANTICS N  GOLD & SILVER...

market's ???

FUCK OFF...

DEATH TO THE FUCKING MONEYCHANGERS.

Kaiser Sousa's picture

And all in an futile attempt to save the completely insolvent Divided States of Ameridumbs....

truly a pathetic display of desperation...

Already failed...

Antifaschistische's picture

since we've added THREE TRILLION in market "value" since the election.  (LOL)  perhaps we should consider taxing portfolios like they do our homes..you know, using some ficticious corrupt "appraisal" system

BlueHorseShoeLovesDT's picture

The T is for Trump.

The P is for...

TheRideNeverEnds's picture

Another day, another perfect V bottom ramp straight back into the green.

Here is the raw footage of the FED trading desk from the close today.

https://youtu.be/qYscemhnf88

GRDguy's picture

They're dumping naked paper gold/silver to match the decline in long-term bonds so their customers don't go off paper promises.  They can only steal from you when all you're holding is paper promises of any kind. They're trying hard to stay in business. Can't blame them for trying, but I've spent the last 12 years avoiding ALL financial charges; 2x20, or whatever it takes for them to try to live off my hard labor and savings. Maybe I'll come back when markets are fair again. At 69, i doubt I'll live that long.

Dr. Engali's picture

No worries. The smart folks at the fed know what they are doing. Carry on citizen.

knukles's picture

"Papers!" said the weaselly little troll in the leather rain coat and oversized fedora smelling of garlic, cigars and stale beer.

Jim in MN's picture

MMmmmmm delicious Soma.  

_RRR_'s picture

15-35% stocks, 65-85% cash my portfolios now. Usually a market I do this in goes up another 100%. Just can't escape me habits. You just have to sit in long enough to wait for it come down again. And 10-20% physical, that's usually another chilly choice

and cash, just in case, is all over the world. cad, aud, eur, usd, (NO YEN), nok, dkk, sfr ...

adr's picture

The Rubicon to the false world has been crossed. There is no going back to reality.

A fake currency with no intrinsic value is worth more than a precious commodity, that if there is no other use at least looks good on women's necks.

Fake earnings, fake sales, fake GDP, fake cheeks, fake asses, fake tits.

The Cardashian market. The idol of falsehood that can only be obtained through fakeness.

 

knukles's picture

Help me here.
Why do black women want big butts like the Kardashians?

nope-1004's picture

Firefox -> addons -> ABP = keep your sanity.

Hulk's picture

Its a convienient place for a couple to place their adult beverages...

adr's picture

Knukles, it's simple anatomy. See the average black female has a butt that sticks out twice as far as your flat assed European woman. Evolution favored the black man who could get his dick passed the giant buttocks to the honey pot. The small dicked man didn't stand a chance.

The fatter the ass, the larger the dick needed for a good doggy style romp, who would want to lay down on their back in the Savannah?

So a fat ass attracts the larger male specimen.

Consuelo's picture

 

 

 It's actually a genetic predisposition for superior gluteal/hanstring development, but-but-but...  I'll take your explanation all the same --

indygo55's picture

Breeding of horses, cattle, dogs etc has created the species we see. You think 350 years of plantation selective breeding had zero effect?

 

TheLastTrump's picture

BWHAHAHAHA

 

that's some good shit Maynard

Hulk's picture

Dats rayciss !!!

Stanley Kubrick's picture

Bravo, ADR.

Possibly the  best comment of the year here, folks.

Still cryin' over it!

 

newworldorder's picture

Thats as good as it ever gets. None better.

Antifaschistische's picture

It's not that they really "want" it....it's that they already "have" it.  So, the Kardashian big-butt protection team is sort of a confirmation of the beauty that they want to believe they have.  It's a narcissitic bias.

It's related to how fat women jump on the "fat is beautiful too" bus.   Deep down, they don't really buy it, but it's easier to turn yourself into a narcissist than it is to go on a diet and resist the donuts.

indygo55's picture

Really! Haven't you seen any of those YouTube vidoes of the monster fat girls doing the strip tease? Amazing.

 

newworldorder's picture

Because black men appear to LOVE big butts.

Consuelo's picture

 

 

Hey - easy there on the fake tits, that's my territory...

 

Return-on-investment none better my good man, than a $5000 (for the cheap bolt-ons, but what the hell right...?) boob job.   

$Meal Ticket...