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Europe Releases Another Unsourced Rumor To Talk Markets To Weekly Highs

Tyler Durden's picture





 

Update: and now the denial, conveniently just after all the upside stops have been taken out, again via BBG:

An ECB spokeswoman said in an e-mailed statement that it is usual practice and nothing special that Draghi meets or talks with the members of the Governing Council. She declined to comment on the content of any talks.

Of course, this is irrelevant. All the shorts have now been taken out. So once the market tumble resumes on the realization that nothing has happened, there will be no natural buying to the downside. Brilliant central planning as usual.

* * *

And so for the third day in a row, we get Europe continuing to talk itself up ever higher. From Bloomberg, with everything unsourced of course.

  • DRAGHI SAID TO SPEAK TO WEIDMANN BEFORE AUG. 2 COUNCIL MEETING
  • DRAGHI SAID TO FAVOR GIVING ESM BANKING LICENSE IN LONGER TERM
  • DRAGHI'S PROPOSAL SAID TO INCLUDE BOND BUYS, RATE CUT, NEW LTRO

How much higher, we wonder,  can the central planners talk this market up before someone actually demands something be done? And what happens when Merkel comes back from vacation?

 


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Fri, 07/27/2012 - 13:32 | Link to Comment Aziz
Aziz's picture

This is, as Bernanke calls it, "communication".

I call it misinformation.

Fri, 07/27/2012 - 13:42 | Link to Comment Noonne
Noonne's picture

"DRAGHI SAID TO SPEAK TO WEIDMANN..."

 

And what did Weidmann say?...

(Nein?)

 

Fri, 07/27/2012 - 13:44 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Deflation!  It's coming!  DJ 6K!  It's coming!

Ruuun!  Run awaaaay!

Fri, 07/27/2012 - 14:21 | Link to Comment sqz
sqz's picture

I'm disappointed Bloomberg (Unsourced Of Course TM) didn't mention DRAGHI'S KITCHEN SINK...

Fri, 07/27/2012 - 13:48 | Link to Comment saturn
saturn's picture

He prolly said: Thanks for popping our Bund bubble, Mr. Bastard!

Fri, 07/27/2012 - 13:48 | Link to Comment zebra
zebra's picture

WEIDMANN said :"shh.... let me finish buying ES first..."

Fri, 07/27/2012 - 13:43 | Link to Comment battle axe
battle axe's picture

Lets see what Monday brings. Perhaps Merkel saying WTF?

Fri, 07/27/2012 - 14:07 | Link to Comment saturn
saturn's picture

Merkel: Ich will meinen Urlaub um Göthes willen!!!

Fri, 07/27/2012 - 13:32 | Link to Comment Meesohaawnee
Meesohaawnee's picture

and that was good for 50 points in 30 seconds in the dow? comical.

Fri, 07/27/2012 - 13:40 | Link to Comment Divided States ...
Divided States of America's picture

That "Something to be done" is when they push more people into poverty, hunger and desperation. and when these masses decide to take matters into their own hands and hang those responsible. I know who they are and Draghi is definitely one of the top ones on my list.

Fri, 07/27/2012 - 13:54 | Link to Comment TPTB_r_TBTF
TPTB_r_TBTF's picture

You are gonna take matters into your hands, lol.

Draghi's bodyguards are gonna kick your ass.

Fri, 07/27/2012 - 14:25 | Link to Comment Divided States ...
Divided States of America's picture

double

Fri, 07/27/2012 - 13:32 | Link to Comment Jason T
Jason T's picture

Can always count on ZH for the WTF just happened

Fri, 07/27/2012 - 13:37 | Link to Comment Neethgie
Neethgie's picture

haha im glued to the screen then something just fires up, im like wtf?!?!? then boom zh has it before reuters or anyone else even says anything

Fri, 07/27/2012 - 13:48 | Link to Comment saturn
saturn's picture

Same here..

Fri, 07/27/2012 - 13:39 | Link to Comment ACP
ACP's picture

Wow, been a while since I've seen RSI @ 90% on all the indices.

Fri, 07/27/2012 - 14:00 | Link to Comment viahj
viahj's picture

quote:

Can always count on ZH for the WTF just happened

end quote: and RT to tells us today's winners and losers, tomorrow

Fri, 07/27/2012 - 13:32 | Link to Comment fonzannoon
fonzannoon's picture

I love the frustration here. The other question is what happens when they do something and a month later we are right back here again.

Fri, 07/27/2012 - 13:36 | Link to Comment Hype Alert
Hype Alert's picture

The problem is once they do something, the gig is up.  Sell on the news.

Fri, 07/27/2012 - 14:06 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

The only thing that actually matters, the Spanish 10 year bond yield (not the spread, the yield, the yield determines fiscal borrowing costs), has moved a grand total of 0.75% on these rumors.  It's at 6.75%.

They may be distriacting the stock trading focused ZHers, but they aren't distracting the bond people, who are the ones who actually determine things.

Fri, 07/27/2012 - 13:33 | Link to Comment Boilermaker
Boilermaker's picture

SPX 1,400!

Mission Accomplished!!!!

YEEEE HAAAAWWW

Fri, 07/27/2012 - 13:33 | Link to Comment SmoothCoolSmoke
SmoothCoolSmoke's picture

Jesus, Mary and Joseph, save me from this insane bullshit!

Fri, 07/27/2012 - 15:54 | Link to Comment LongBalls
LongBalls's picture

You only need Jesus! But your on the right track. Insanity and evil want you to believe they are in charge.

Fri, 07/27/2012 - 13:33 | Link to Comment NEOSERF
NEOSERF's picture

And why exactly isn't Gold moving given all this free money printing that will commence in the next couple weeks?

Fri, 07/27/2012 - 14:09 | Link to Comment TPTB_r_TBTF
TPTB_r_TBTF's picture

Because it's already priced in.

Fri, 07/27/2012 - 13:33 | Link to Comment Dollar Bill Hiccup
Dollar Bill Hiccup's picture

It already has been done!

Just like FIAT, something is created out of nothing.

This is getting weirder by the moment.

Fri, 07/27/2012 - 13:34 | Link to Comment Hype Alert
Hype Alert's picture

Hype rocks!

Fri, 07/27/2012 - 13:33 | Link to Comment same old story
same old story's picture

and who is going to demand they actually do something?  This rumor stuff has been working so well for them, why stop now?

Fri, 07/27/2012 - 13:34 | Link to Comment drink or die
drink or die's picture

I have a weird feeling I should sell some stock right now...

Fri, 07/27/2012 - 13:43 | Link to Comment RSloane
RSloane's picture

Keep the ones whose inventories include mountains of toilet paper.

Fri, 07/27/2012 - 13:47 | Link to Comment Doomer
Doomer's picture

You can bet the European banks are.  Draghi pumps 'em, 'smart' money dumps 'em.  Gotta get as much cash before the crash.

50 S&P points in two days.   Who said talk is cheap?

 

 

Fri, 07/27/2012 - 13:34 | Link to Comment rubearish10
rubearish10's picture

...and so this is the global intervention preview for next week??? It better be 'cause Draghi just might not "do" enough.

Fri, 07/27/2012 - 13:34 | Link to Comment HaroldWang
HaroldWang's picture

Wow! Quite a spike! Gonna be ugly when nothing gets done. Fed HAS to announce QE next week now just to keep this up. If not, look out below big time.

Fri, 07/27/2012 - 13:35 | Link to Comment monopoly
monopoly's picture

Ahhh, they walk the walk and talk the talk. Dow 14,000 cannot be far away. Earnings, Pfftt, means nothing.

Fri, 07/27/2012 - 13:35 | Link to Comment Squid Vicious
Squid Vicious's picture

ouch- time to crack open a bottle of something

Fri, 07/27/2012 - 13:36 | Link to Comment williambanzai7
williambanzai7's picture

CAT CALLS IT

Fri, 07/27/2012 - 13:38 | Link to Comment LouisDega
LouisDega's picture

Thats a big pussy. Damn, Im quick

Fri, 07/27/2012 - 17:21 | Link to Comment ZeroAvatar
ZeroAvatar's picture

Incomplete sentence:  I think your bluffing......???  I think your bluffing stinks?

Fri, 07/27/2012 - 13:45 | Link to Comment RSloane
RSloane's picture

Its about time you showed up. I needed a visual to put this all in perspective besides repetatively seeing Vesuvio erupt.

Fri, 07/27/2012 - 14:00 | Link to Comment saturn
saturn's picture

How many times a day does the central wanker erupt i wonder..

Fri, 07/27/2012 - 13:58 | Link to Comment Lohn Jocke
Lohn Jocke's picture

You're*

Fri, 07/27/2012 - 14:00 | Link to Comment Gadocat99
Gadocat99's picture

Grammar smammar

 

 

Fri, 07/27/2012 - 14:02 | Link to Comment Lohn Jocke
Lohn Jocke's picture

Lets eat grandpa!

Let's eat, grandpa!

Grammar saves lives, bitches.

Fri, 07/27/2012 - 17:24 | Link to Comment ZeroAvatar
ZeroAvatar's picture

"How to Serve Man",  alien text. (150 different ways, including sauteed, pureed, bbq'd, smoked, stuffed, fas grois, etc)

Fri, 07/27/2012 - 13:37 | Link to Comment monopoly
monopoly's picture

This is all so absurd, but I am playing with the only currency I know of. 

Fri, 07/27/2012 - 13:37 | Link to Comment spartan117
spartan117's picture

Why do they always speak up right when Crimex closes?

Fri, 07/27/2012 - 13:37 | Link to Comment RobotTrader
RobotTrader's picture

Wow, Draghi must be laughing his ass off.  How can it be so easy?  Just start flapping your gums with promises and maybes and the Algo/Igor/Robos start buying stocks hand over fist.

In 2009, it was the "Green Shoots" rally.

We'll call the 2012 the "Pie-Hole" rally.

Fri, 07/27/2012 - 13:41 | Link to Comment drink or die
drink or die's picture

It's days like this that remind me why I still hold stock.  Levitation based on absolutely nothing besides hot air!!

Fri, 07/27/2012 - 13:51 | Link to Comment alien-IQ
alien-IQ's picture

As long as there are idiotic, sycophantic, momo chasing monkeys like you in the world...his bullshit will continue to work.

Your actions give his lies the appearance of credibility and then you have the audacity to wonder why people believe his bullshit.

To call you stupid would be an insult to stupid people the world over.

Fri, 07/27/2012 - 14:15 | Link to Comment PontifexMaximus
PontifexMaximus's picture

Cheapest to deliver!

Fri, 07/27/2012 - 13:50 | Link to Comment TruthInSunshine
TruthInSunshine's picture

 

 

***Breaking News Joe Wiesenthal-cnBSc-msnBSc-Paul Krugman Alert***

 

Unconfirmed rumor from unidentified source that Myanmar, Haiti, Uganda, Romania & the Nova Scotia and Prince Edward Island Regional Council of Carpenters, Millwrights and Allied Workers (The G5) have established an alternative ESM Fund to provide as much as  880 billion to support the European Union and the  .

 

***This Has Been A Breaking News Joe Wiesenthal-cnBSc-msnBSc-Paul Krugman Alert***

Fri, 07/27/2012 - 13:55 | Link to Comment azzhatter
azzhatter's picture

there is a rumor that Uzbekastan is also in

Fri, 07/27/2012 - 16:04 | Link to Comment LULZBank
LULZBank's picture

This is called effeciency.

As part of austerity measures, actual actions will not be taken but will just talk about them.

Saves money and also the person who was to carry out the necessary actions is laid off.

Fri, 07/27/2012 - 13:39 | Link to Comment Meesohaawnee
Meesohaawnee's picture

Dead on Robo!! heck by 3 he can just flap up 15k on the dow.. gimme 1500 in the SPY

Fri, 07/27/2012 - 13:40 | Link to Comment Defiant1968
Defiant1968's picture

Wow unto those that call evil good and good evil!

 

Fri, 07/27/2012 - 13:41 | Link to Comment Piranha
Piranha's picture

I dont have a problem with moneyprinting - now just fucking do it!

Fri, 07/27/2012 - 13:45 | Link to Comment yogibear
yogibear's picture

The broke Euro members should beat Draghi to it and flood market with printed Euros. Start issuing copied Euros and circulate them.

Fri, 07/27/2012 - 13:41 | Link to Comment Hype Alert
Hype Alert's picture

Draghi:" Hey, you want to see something cool, watch this!"

Fri, 07/27/2012 - 13:43 | Link to Comment Jlmadyson
Jlmadyson's picture

MAGIC SON!

Fri, 07/27/2012 - 13:41 | Link to Comment Jlmadyson
Jlmadyson's picture

Rate cut with no Bernake put is no good for Euro.

Pray for coordinated action boys and girls!

Fed and ECB in a motherfreaking corner!

Fri, 07/27/2012 - 13:42 | Link to Comment YesWeKahn
YesWeKahn's picture

I heard from the God

new LTRO: another 5 trillions

new rate : negative 5%, that's right Drughi will give you money when you borrow

Everyone can get a bank license, money is the new pupu.

 

Fri, 07/27/2012 - 13:42 | Link to Comment sawman
sawman's picture

This is now surreal. Some impotent unelected windbag mouthpiece of the establishment utters complete bullshit with not a grain of substance and that's enough to move the market 220 points. The manipulation obviously stops at LIBOR and we should all be as shocked as the BBA when it finally becomes apparent the entire ****ing system is corrupted. 

Fri, 07/27/2012 - 13:50 | Link to Comment Jlmadyson
Jlmadyson's picture

And shocked when the entire system collapses upon itself.

Fri, 07/27/2012 - 13:42 | Link to Comment yogibear
yogibear's picture

Bernanke, Yellen and Dudley all want to hype-up the casino. Slaves to Greenspan's Wall Street wealth-effect doctrine.

Greenspan also believed in housing's wealth effect. How did that work out?

It works until it doesn't.

Fri, 07/27/2012 - 13:46 | Link to Comment same old story
same old story's picture

I think it is working quite well for the criminal class.  everyone else not so much, but they don't care about that.

 

I hear corzine is in the south of france, or maybe his estate in the hamptons soaking up the rays and laughing

Fri, 07/27/2012 - 14:31 | Link to Comment TPTB_r_TBTF
TPTB_r_TBTF's picture

He is traveling and getting pats on the back for carrying out his duties so well.

Fri, 07/27/2012 - 13:43 | Link to Comment reginald
reginald's picture

Cue WWWIII or web 3.0 before the end of the year...

Fri, 07/27/2012 - 13:43 | Link to Comment Meesohaawnee
Meesohaawnee's picture

and obama is sitting around. laughing his as off. Like hes gonna stop this fraud.

Fri, 07/27/2012 - 13:43 | Link to Comment same old story
same old story's picture

no need to print money when you can print rumors.  

Fri, 07/27/2012 - 13:59 | Link to Comment scatterbrains
scatterbrains's picture

THe rumors are helping them lift the market on thin volume while the bankers ease into short positions with the help of the CFTC having lowered  margin levels  in /ES.   This way when they do NOT print and the market collapses back to 1100 the Fed/bankers can cover and arrest the any collapse and profit from the gamed casino

Fri, 07/27/2012 - 13:44 | Link to Comment miker
miker's picture

ESF has to act very soon.  I predict coordinated easing (printing) with Fed Reserve, ESF, Japan and possibly China all in the mix.  Smaller amounts for each country but enough for ESF to address Spain, Greece and a little for Italy for now.  The total will be 1-1.5 Trillion.

Not acting is not in the cards.  Europe will go down with a major Spain default.  The rest of the world with it, including Germany.......and they now realize it.

Fri, 07/27/2012 - 13:45 | Link to Comment miker
miker's picture

Excise please.  ECB...not ESF.

Fri, 07/27/2012 - 13:44 | Link to Comment OldE_Ant
OldE_Ant's picture

Wow. WOW, and wow again.  At some point shit does have to turn to compost or dissappear because no matter how many times one regurgitates and swallows the same old crap there will be nothing left.

I'm starting to step in short again here.  Just a little nibble because my bear ass has too many holes in it from the beatings over the past year.

Looking like its time to step up self sufficiency efforts and do some materials purchases.  Get things going now before the real crap hits the fan.   These moves are unmitigated ass fart blowing, and if no-one can smell the smell then they will be the first ones suffocating.  No IFs anymore just when.

End of Line

Fri, 07/27/2012 - 13:44 | Link to Comment HaroldWang
HaroldWang's picture

Even Liesman talking this rumor down. Pretty hysterical when he's not even buying it.

Fri, 07/27/2012 - 13:44 | Link to Comment CrimsonAvenger
CrimsonAvenger's picture

There's a book asking the question how you kill 11 million people (like the Nazis); the answer is to lie. The Nazis lied the Jews right into the boxcars to take them to "safety"; once they heard the padlocks it was too late. Same thing here, I think; they'll lie investors right into the poorhouse.

Fri, 07/27/2012 - 13:46 | Link to Comment HD
HD's picture

I'm actually having chest pain.

I may not live long enough to see the market implode when reality can no longer be ignored.

I'd say blow off top if I hadn't heard that term 100 times in the past year.

Fri, 07/27/2012 - 13:44 | Link to Comment Neethgie
Neethgie's picture

its so odd, i kind of wish i had a slot on bloomberg so i could just say, this is all bullshit a rally based on nothing, however i doubt id be invited back somehow.

Fri, 07/27/2012 - 14:37 | Link to Comment TPTB_r_TBTF
TPTB_r_TBTF's picture

and if they did invite you back, like every day?  Like, you repeat that day after day on Bloomberg ... what changes?

Fri, 07/27/2012 - 13:45 | Link to Comment Defiant1968
Defiant1968's picture

Bernanke should do a Trillion Dollar currency swap with Spain with no collateral - Everything should be fine after that - Party On!

Fri, 07/27/2012 - 13:45 | Link to Comment SmoothCoolSmoke
SmoothCoolSmoke's picture

WTF is next?

Dhraggi SAYS "I have cure for cancer"

Dhraggi SAYS "I can pee gold"

Dhraggi SAYS "I know who killed JFK"

F'n lie'n mothef'er.

 

Fri, 07/27/2012 - 13:46 | Link to Comment alien-IQ
alien-IQ's picture

all this ramping in the /ES and the EUR/USD is basically flat for the day. Just like yesterday, it spiked at 6-7am and then flat-lined.

I guess equity investors and the smartest guys in the room...as long as the room is empty.

Fri, 07/27/2012 - 13:46 | Link to Comment Meesohaawnee
Meesohaawnee's picture

Yea im taking swings at TZA,DPK now. how can ya not nibble at this insanity. this reeks for desperation. ..

Fri, 07/27/2012 - 13:48 | Link to Comment q99x2
q99x2's picture

Bullshit. Draghi is insider trading and laughing all the way to his ban.

Fri, 07/27/2012 - 13:48 | Link to Comment ekm
ekm's picture

The simplest explanation:

THEY ARE TRYING TO LURE SUCKERS.

Fri, 07/27/2012 - 13:49 | Link to Comment miker
miker's picture

I think the rally is real.  Particularly since PMs are not participating.......they are being manipulated down by CB's. 

Look, if ECB doesn't relieve the default stress in Spain soon, bond selling may go parabolic.  Then it's too late.  I think the way they see it, printing is not viewed favorably by most, but it's the least bad option compared to others.

Fri, 07/27/2012 - 13:53 | Link to Comment surf0766
surf0766's picture

A 'real" rally does not include any manipulation.

Fri, 07/27/2012 - 13:54 | Link to Comment Jlmadyson
Jlmadyson's picture

No lets be clear.

IT IS THE LAST HOPE THEY HAVE. PERIOD!

There is nothing else.

Fri, 07/27/2012 - 13:55 | Link to Comment alien-IQ
alien-IQ's picture

the FX market doesn't seem to think it's real. But what do they know...it's equity traders that really have their finger on the pulse (or perhaps up the ass) of the global economy right?

Fri, 07/27/2012 - 13:59 | Link to Comment Jlmadyson
Jlmadyson's picture

And now that BoFA is saying it is 110% priced in already they technically have jack squat left.

Central Bankers for the win!

Fri, 07/27/2012 - 13:55 | Link to Comment SmoothCoolSmoke
SmoothCoolSmoke's picture

I'm sick of this "We fixed everything"  ES jumps 20.  Followed by "No, we fixed nothing" ES drops 10.  MOFO'N MOFOers !!!!!!!

Fri, 07/27/2012 - 13:56 | Link to Comment Cursive
Cursive's picture

Serious question:  Why is the EURUSD bought on news that the ECB will monetize and bought on the news that the Fed will monetize?  Shouldn't it be an inverse relationship?

Fri, 07/27/2012 - 13:56 | Link to Comment Meesohaawnee
Meesohaawnee's picture

i think EKM is about dead on. You have to think like a criminal here. i think lots have lots of shares to dump.

Fri, 07/27/2012 - 13:56 | Link to Comment azzhatter
azzhatter's picture

Well, we did have that massive 1.5% GDP print

Fri, 07/27/2012 - 13:56 | Link to Comment roadlust
roadlust's picture

It's a "rumor" to the talking heads, but it's Inside Info to the money guys.  (They actually know what was said in "private" Euro meetings, we don't).  There could well be fire where there is smoke, and Europe could be on the verge of actually doing something dramatic.  At any rate, Market Makers filled gaps today, and if that's all it was today, we should know by next Tues.

Fri, 07/27/2012 - 13:58 | Link to Comment alien-IQ
alien-IQ's picture

EUR/USD about to go negative.

Equity markets...oblivious.

Fri, 07/27/2012 - 14:06 | Link to Comment FRBNYrCROOKS
FRBNYrCROOKS's picture

I've been short since October 3 last. Everytime I see a little sunlight they throw lemon juice in my eye. WTF???? I am convinced they are ferreting out all short positions, making put worthless right before they kneecap the market. That was the last trade I have made and now I am even more convinced this will be worse than "32". I am always a year early with these calls. I am getting out of stocks and into Strong-Horse Junk Bonds when my short is closed. Fucking criminals!!!

Fri, 07/27/2012 - 14:13 | Link to Comment firstdivision
firstdivision's picture
  • DRAGHI SAID TO HAVE HAD SEX WITH KRISTEN STEWART

That would send the EUR up about 300 pips

Fri, 07/27/2012 - 14:21 | Link to Comment g3h
g3h's picture

If Draghi had already had the bazooka in hand yesterday, why does he need to beg Weidmann for permission today?

Fri, 07/27/2012 - 14:24 | Link to Comment reginald
reginald's picture

Confidence is everything.

Fri, 07/27/2012 - 14:39 | Link to Comment Sandy15
Sandy15's picture

We should all just copy our money, take it to the bank and payoff our bills.  What's the difference between that and the central banksters........  it's all funny money

Fri, 07/27/2012 - 15:47 | Link to Comment yogibear
yogibear's picture

You go to prison, they don't. Plus central banksters get huge bonuses.

Fri, 07/27/2012 - 17:32 | Link to Comment ZeroAvatar
ZeroAvatar's picture

Give me $50.00 on 'Boxcars'!  

 

...  ...

...  ...

Fri, 07/27/2012 - 20:59 | Link to Comment Pal
Pal's picture

Ok, I am stupid so I will put that out front... BUT.. why does the market believe this BS.  To do as this shill says they will do would be a violation of the Euro Treaty!   They can't do it unless everyone wants to alter the treaty and the friggin Hunns DON"T want to bailout everyone so this is just another round of Follow the Pea, Follow the Peal, Now You See It Now You Don't!!  Now I know that we in American know longer enforce the laws or live within the confines of the US Constitution but...this is Europe.... they have a lot of experience with dictators and therefore tend to want to not allow them!

 

Geeeeeeeeeeeeez, have Euroweenied thrown out their constitution also?

 

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