• Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.
  • Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.

Draghi Market Response: EUR Down, Gold Down, EU Bond Yields Down, EU Stocks Down, US Stocks Surge

Tyler Durden's picture


UPDATE: US equities surge on day-session open (as AAPL hits low of day)

Perception; Independence; Conditionality; Unlimited; Fully-Effective-Backstop. Draghi 'nailed-it' on the drinking game but it seems the world is not amused. The market's reaction to the new OMT is modest EUR weakness (and more JPY weakness), practically no change from US equities (and modest weakness in European equities), Gold and Silver disappointed at the 'conditionality' and not total print-fest; and yet 2Y Italian and Spanish bond yields - which flatlined for a while, are now dropping faster and the longer-dated Italian and Spanish yields are dropping also. US Treasuries are 5-6bps higher in yield. In Summary: "Spanish bonds soaring on hope Spanish bonds will plunge to allow Spanish bonds to soar on ECB purchases" - everything else not impressed.


EURUSD rallied on no rate cut and fell on OMT reality...


2Y Spain and Italy yields were stable for a while then accelerated lower...


but European stocks are leaking lower...


Charts: Bloomberg

Your rating: None

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Thu, 09/06/2012 - 09:37 | 2767866 tuttisaluti
tuttisaluti's picture

Buy the dips in Pm's

Thu, 09/06/2012 - 09:41 | 2767886 GetZeeGold
GetZeeGold's picture



Wow......it lasted all of 5 minutes this time....and then the boys figured out the BS.


Thu, 09/06/2012 - 10:14 | 2767985 sunaJ
sunaJ's picture

This is the new Long Slog.  Everyone knows the crash is inevitable, but we have to endure these years of interventions as the power structure refuses to submit to its own destruction, to the detriment of greater civilization.  The Long Slog is to be followed by the Epic Depression, subsequently followed by the Great Localization.  The hysterical powerbrokers will be fighting it the whole way, encouraging anyone to embrace the scapegoat of terrorism, illegal aliens, Iranians, homosexuality or the reviled political party of your choice.  Keep your eye on the ball because things will get weird(er).

Thu, 09/06/2012 - 10:25 | 2768065 zoggl
zoggl's picture

Gold Down? May be for a second - and still very green. Is this worth typing a headline in ZH? I call this Boulevard jornalism.

Thu, 09/06/2012 - 09:38 | 2767867 Concentrated po...
Concentrated power has always been the enemy of liberty.'s picture

False Promises, Bitchez!

Thu, 09/06/2012 - 09:46 | 2767917 Sudden Debt
Sudden Debt's picture

What does marriage have to do with this article?

Thu, 09/06/2012 - 10:45 | 2768149 SAT 800
SAT 800's picture

They both involve promises that won't be realized.

Thu, 09/06/2012 - 09:53 | 2767948 LawsofPhysics
LawsofPhysics's picture

"Paper promises, Bitches!"  - Fixed.

Thu, 09/06/2012 - 09:38 | 2767869 alien-IQ
alien-IQ's picture

/ES...fuck. Parabolic.

Thu, 09/06/2012 - 09:44 | 2767908 Parabolic
Parabolic's picture

Someone rang?

Thu, 09/06/2012 - 10:20 | 2768038 Orly
Orly's picture

Wait 'til they realise that the bounce they created was on hopes of more free money.  Looking at the latest data, (whether true or false, it is the propaganda...) there is no way Dr. Bernanke is going to throw gasoline on this thing.

The bubble has already burst.  Now, the longs are finding more suckers to pull into the maelstrom before the levee breaks.

Needless to say, all of this is unsustainable.  Gravity is a mere matter of time.


Thu, 09/06/2012 - 09:38 | 2767874 PrintingPress
PrintingPress's picture

I had a sad

Thu, 09/06/2012 - 09:38 | 2767875 Non Passaran
Non Passaran's picture

I am seeing US markets at 1%+ up (delayed quotes)!

Thu, 09/06/2012 - 09:40 | 2767882 MFLTucson
MFLTucson's picture

The world of lying leaders!

Thu, 09/06/2012 - 09:45 | 2767889 Sudden Debt
Sudden Debt's picture

We need a Idiotic Hopium Index!!



Thu, 09/06/2012 - 10:42 | 2768138 SAT 800
SAT 800's picture

The S&P 500 works pretty good as a stand-in!  Book Him, Dano!, (hawaii 5-0).

Thu, 09/06/2012 - 09:41 | 2767890 vertexa
vertexa's picture

profit taking?

Thu, 09/06/2012 - 09:41 | 2767891 scatterbrains
scatterbrains's picture

stocks ar a yawn, gasoline though loves it  up 2%  and rocketing.  Lets hit that brick wall head on bitchezzz!

Thu, 09/06/2012 - 09:43 | 2767896 Jlmadyson
Jlmadyson's picture


These people are crazy.

Thu, 09/06/2012 - 09:42 | 2767897 Life of Illusion
Life of Illusion's picture


Draighi designed this when at FSB,,,to take assets under control



Thu, 09/06/2012 - 09:43 | 2767902 RiskAverseAlertBlog
RiskAverseAlertBlog's picture

Conditionality? You mean like a treaty agreement limiting sovereigns to budget deficits capped at 3% of GDP? Nothing but a banking dictatorship's dream world of lies.

Thu, 09/06/2012 - 09:44 | 2767909 Cognitive Dissonance
Cognitive Dissonance's picture

"Draghi Market Response: EUR Down, Gold Down, EU Bond Yields Down, EU Stocks Down, US Stocks Surge"

As far as the global petro dollar currency reserve is concerned........US Stocks Surge is the only response that counts.

Thu, 09/06/2012 - 10:04 | 2767987 Spastica Rex
Spastica Rex's picture


Thu, 09/06/2012 - 09:45 | 2767911 stika
stika's picture

not really up to date, the order from the ECB to BUY EM ALL was due in the mid of the conf call... the big rally in the Eu stock market started at 1300 GMT sharp. almost 2% in a matter of 30 minutes. 

Thu, 09/06/2012 - 09:46 | 2767919 stika
stika's picture

the move is called "boosting the confidence". seems it's not really working in the EUR/$ tough.

Thu, 09/06/2012 - 09:47 | 2767921 Gtinkham
Gtinkham's picture

Dragass market response.


Thu, 09/06/2012 - 09:47 | 2767924 Boilermaker
Boilermaker's picture


Thu, 09/06/2012 - 10:16 | 2768025 MillionDollarBoner_
MillionDollarBoner_'s picture

Stahks are on a tear!!!!

Thu, 09/06/2012 - 09:48 | 2767929 Ancona
Ancona's picture

Umm.....Isn't there an important German supreme court decision that has this shit all hanging in the balance??

Thu, 09/06/2012 - 09:58 | 2767970 Boilermaker
Boilermaker's picture

I think you mean a statement.  A decision implies that they are actually considering denying it.

Thu, 09/06/2012 - 09:50 | 2767932 G-R-U-N-T
Thu, 09/06/2012 - 10:41 | 2768127 SAT 800
SAT 800's picture

When is the breaking point when a great ship has a hole in it? When it's down 12 degrees by the bow? When the stacks disappear under the surface? When it's halfway to the bottom of that cold, cold, sea? There isn't any breaking point; it's a process, and it's well underway.

Thu, 09/06/2012 - 09:52 | 2767941 Oh regional Indian
Oh regional Indian's picture

The levers in the hands of the controllers are endless. 

The simulation is running perfectly.

No capable human subjects are showing extreme distress.

Gold today, Oil tomorrow, Silver there-after, corn for good measure, did we forget iron ore? What a bore, let's crash the Loonie, spike the Yen and count to ten.

Then drone a kill, or 25,

And show it on the TV, live.

Still the capable people snore.

All is good.

The simulation is running perfectly.



Thu, 09/06/2012 - 10:06 | 2767992 Spastica Rex
Spastica Rex's picture

The simulation is running perfectly.

I DK, seems like we're seeing a lot of glitches in the Matrix of late.

Thu, 09/06/2012 - 10:22 | 2768054 Oh regional Indian
Oh regional Indian's picture

The simulation has them glitches covered.

Programmed out-liers. Like you and me. ;-)


Thu, 09/06/2012 - 10:28 | 2768077 disabledvet
disabledvet's picture

There's no glitch. (tapping chalk board) ATTENTION Class of Tylers Durden! (tapping chalk board)....not only is the the Fed financing the American engagement in the ME...but so is now the ECB AND the BOC AND the BOJ AND...

Thu, 09/06/2012 - 09:53 | 2767952 adr
adr's picture

Bots love keywords. In a market with no human traders, this is what we get. Humans can figure out the keywords are actually meaningless, bots can't.

Draghi sould have started the speech with, "I'm going to say a whole bunch of algo bot market ramp keywords. All my friends at Goldman have positioned themselves for maximum profit from my speech."

I guess Goldman didn't want Obama re-elected with this move putting oil near $100 and gas will shoot over $4 again. Of course the financial media has been saying for the last ten years that a weaker Euro means cheaper oil.

Thu, 09/06/2012 - 10:09 | 2768002 Spastica Rex
Spastica Rex's picture

Interesting thought.

Gas higher + stocks higher and who's happy?

Not the plebs.

Thu, 09/06/2012 - 09:56 | 2767960 AynRandFan
AynRandFan's picture

Let's see.  If we invest money today in plants and equipment, we can sell our products tomorrow for money that is worth half as much.  Great!

Thu, 09/06/2012 - 10:07 | 2767996 Lost Wages
Lost Wages's picture

No matter what, the stocks I sold in May keep going up. Getting ready to kill myself.

Thu, 09/06/2012 - 10:18 | 2768021 Cognitive Dissonance
Cognitive Dissonance's picture

When you're ready to jump back in please let me know? That will be the sign for me to jump out. :)

Max Payne bitchez. That's what the middle class wealth transfer process is all about.

No one escapes.

Thu, 09/06/2012 - 10:22 | 2768052 Lost Wages
Lost Wages's picture

I'm not jumping back in until after the next crash, so if the hologram rally continues indefinitely, it could be awhile.

Thu, 09/06/2012 - 10:13 | 2768012 MillionDollarBoner_
MillionDollarBoner_'s picture

Printing is Printing. Period.

Just buy some PMs, already, then forget all this shit and get on with real life.

We're not here for a long time...

Thu, 09/06/2012 - 10:13 | 2768013 Xibalba
Xibalba's picture

HOME RUN with the baffle bat!  Next up - Muppet Sheep get Kim Kardashian posters! 

Thu, 09/06/2012 - 10:13 | 2768014 SAME AS IT EVER WAS

TPTB-represennted by the Bernank and NObama:  get everybody on board with this stock market thing going higher. We've got the sheep right where we want them- 4.00/gal gas, skyhigh real goods, they're our slaves for life if they want to go to college or by a house. The stock market gives the sheep the illision that every thing will be ok, all the while we slowly use thier 401k's to invest(sell to them) in this bullshit sky high stock market and buy us a little more time to implement our social fascist plan.


Central bank and the rest of the world mouthpeices: Check!

Thu, 09/06/2012 - 10:14 | 2768018 boiltherich
boiltherich's picture

I cannot understand how the euro is still 1.25, after years of bailouts and economy wrecking, and uncertainty and monstrous debt, by my thumbnail valuation for it should be no more than 60 cents. How can the market afford to keep floating this dog and pony show at over a buck? Why would they even deal in a currency that is doomed sooner or later and could be gone in any given month?

This value is recklessly high and probably the only thing keeping it alive at this point because if it were to be fairly valued at half a buck the inflation in Europe would be so high that the northern core would drop the euro like a stone cold turd. The point has been reached where the aims and needs of the north and south are in diametric opposition, mutually exclusive. No longer a battle of wills but of the pride of a few leaders, all want the euro dead by now but none wants to be blamed for the end of the euro, this is why it was said that Greece should have a six day work week, if they can just get Greece to leave on it's own they will be free to go as well. But this can't go on much longer, I hope.

Thu, 09/06/2012 - 10:21 | 2768046 MillionDollarBoner_
MillionDollarBoner_'s picture

"I cannot understand how the euro is still 1.25"

Can you say "competitive devaluation"?

How 'bout "least worstest"?

Aw, heck - how' bout "they're ALL a crock of shit"?

Thu, 09/06/2012 - 10:21 | 2768048 stika
stika's picture

I agree, the eur is overvalued, the ecb has a bigger balance sheet than the FED, with no doubt lower quality, over a smaller economy. just this fact is worth a higher price of gold in eur than the dollar, ie eur$ < 1

Thu, 09/06/2012 - 10:19 | 2768033 geewhiz190
geewhiz190's picture

EU stocks down?  which one?

Thu, 09/06/2012 - 10:19 | 2768034 time2blowitup
time2blowitup's picture

Party like it's 2007!! 

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