And Treasury Futures Are...

Tyler Durden's picture

...Not too happy to start based on the early bid/ask.

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Id fight Gandhi's picture

Rates will still stay low. Qe3 and the kitchen sink!

Flakmeister's picture

Is this really a surprise?

oogs66's picture

this should drive stocks tonight i think

NumNutt's picture

Pizza, check

Beer, check

Guns and ammo, check

Let the fun begin.....

NumNutt's picture

Dow futures -301, it is going to be a long night....

NumNutt's picture

-310, hmm I think I need to run out to the ATM, be right back......

Long-John-Silver's picture

It'll be empty by the time you get there.

monopoly's picture

That was great Long John, "empty". :)))) +1

trav7777's picture

211 now...bovespa up big so is Mexico...go figure

mailll's picture

We would be shooting the wrong people if it comes down to this.  Our bullets can't reach the real culprits.

Chump's picture

You're exactly right.  Since it's hard to march on Wall St. and DC on an empty stomach, we'll just sit around and rip ourselves apart instead.  Sad.

slaughterer's picture

Dollar is paring losses.  Almost at break even.  OMG!!!

Nate H's picture

downgrade is not the real story here (though it means austerity longer term)

real sh*tstorm is europe/italy etc 

 

dollar sold off friday due to leak of downgrade - now we are back to focus on eurozone becoming federation...treasuries still the deepest most liquid place on earth (until theyre not)

pupton's picture

And TBT will be a bad bet until it's not. It's part of my SHTF portfolio.

darkstar7646's picture

Probably another intervention by parties like the Bank of Japan - they already openly did it once last week.

slaughterer's picture

Now that we have the S&P downgrade behind us.  LET'S RALLY!!!

maxmad's picture

NO QE3 coming... we could carsh!

darkstar7646's picture

Gotta think this just moved up the timetable of QE3 to about the next 24-36 hours, instead of a few days, weeks, or months.

Papasmurf's picture

No need for carsh when there's Mastercard.

trade the day's picture

US Treasuries Bitchez!  Must be a lot of forces at play here.  Proceed with caution.

boricuadigm-shift's picture

Why the ATM?  Are you expecting a bank run?  Please throw some logic.

ATM = At the money
or
ATM = Automatic Teller Machine as in you better have some cash?

TheDriver's picture

[sigh] The Internet ruined me. That's all I think about now when I see ATM.

RockyRacoon's picture

Treasury Futures -- now there's a classic oxymoron.

Yen Cross's picture

 Geese give me the " Vanilla Options" @ xau 1.8k.

Caveman93's picture

Gravity is a bitch ain't it?

FoieGras's picture

TNU11 quoted @ 127'110.. up 0.25% on my screen. Barely moved.

Bear's picture

USU11 is up on the day ... SP rating is joke. Downgrade debt and its value rises

DosZap's picture

Dude,

SP rating is joke. Downgrade debt and its value rises 

 

You have to remember, S& P, the world, is fighting a war with the Beast, the one that started and then financed at LEAST 2 World Wars.

They will be brought down, when and if their good and damn ready. NOT until.

We are puppets, they are the PUPPETMASTERS.

Never forget it.

NoClueSneaker's picture

Tricheur wants to continue to kick the can .... Supermassive black hole feeds ..... How long before crosshair on the head of dwarf Napoleon ?

buzzsaw99's picture

the upside down usa treasury finally quacked up.

slaughterer's picture

Central Banks want bulls to win.  Bears have only Monday to enjoy, and then the BERNANKE announces his next move on Tuesday.  Not much time.  Have fun while you can.  Bear slaughter Tuesday.  .  

css1971's picture

Um. ~2 months to the bottom.

youngman's picture

Wierd night............. its going to be a very wierd night...sung to the Black eyed peas song..I have no fucking idea what is going to happen....this market is so rigged with Governments and HFT computers.....I just don´t know

adr's picture

if futures were up in the middle of the night then i would be worried. at night people tat actually know a thing or two are trading. with futures down this much it pretty much guarantees a PPT action. when i wake up i fully expect futures to be green and follow with a major rally.

unless we actally start trading with any type of rational thought and intelligence. like that is going to happen.

HungrySeagull's picture

I am sitting at the Silver and the sellers are playing courtship.

The sharks such as me continue to circle the edges of the target prices waiting to strike.

It's going to be a very long night. Thank god I heft metal coin instead of paper stocks.

Long-John-Silver's picture

I'm not so much worried about a run on the banks as a run on the grocery stores.

StychoKiller's picture

It'll take a few daze before the Ignorati figure things out...

FoieGras's picture

Bond market telling S&P they can go f*** themselves. The bond market has it's own intrinsic rating system. Currently it says Italy is crap and USA is AAA.

Spitzer's picture

No asshole

The ECB just doesn't want to destroy their Euro currency by buying enough Italy debt to make it appear safe like the Fed is doing. If the ECB bought as much Italy debt as the Fed buys US debt, Italy would look safe too.

Spitzer's picture

No asshole

The ECB just doesn't want to destroy their Euro currency by buying enough Italy debt to make it appear safe like the Fed is doing. If the ECB bought as much Italy debt as the Fed buys US debt, Italy would look safe too.

Doña K's picture

FoieGras
Buying Italian bonds is equivalent to buiyng a factory pre-rusted Fiat 500. I think you've been eating too much French food.

tmosley's picture

You do realize that most of that "market" is the Fed, right?

Schmuck.

GD's picture

A Franco-German assurance is not enough to stop the real situation. The EU is in deep trouble. Italy is broke. Spain is broke as well. Ireland, Portugal. Drachma dudes are all broke. Unemployments over 20%.. Stiff fiscal police now will mean pain for those countries immediately and will take years to take effect.Riots and other mass frenzy will soon break out. EUR is doomed as it is presented at the moment. The US printing money, Qe3 coming up. Preasure on EM, weak USD, Gold up, JPY dudes interventions. As some very good articles point out here at ZH and other sources, we have entered a whole new economical era. Unfortunately it is a dark one. Sad fucking scene.

jkruffin's picture

Just dumped all my gold and silver....thank you for all the gains....you can best believe that Gold and Silver are going to get taken down as part of the ECB/Bernanke attack this time....the paper trade will demolish gold and silver prices going forward.

Long-John-Silver's picture

Will you come back crying when Gold is >$2,000 and Silver is >$50?

Papasmurf's picture

All in or all out is a losing strategy.