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Is this what just spooked the gold/silver paper contract holders ?
I'd assume it was the EUR collapsing which means some dollar strengthening
The dollar is up today. The Yen is debaseing. Don't worry. The dollar will soon follow. This is a long horse race of fiat to the bottom. Slow and steady. Untill war.
Nice set-up for the Fed.
EUR/USD moves up around 20pips, whereas Bund futures fell around 10ticks following news of active support from China to debt-stricken Eurozone countries
Tyler, this was posted on another forum - is this true?
The FRBNY POMO infusion today of $8.87 Billion totaling about $91 Billion so far this month vs. Sept 2011 had less than $11 Billion.
The equities market is being pumped up indirectly by the FED. This is a Stealth QE3 that is in progress this month.
10/03/11 Mon $2.5B
10/04/11 Tues $4.59B
10/05/11 Wed $1.37B
10/06/11 Thur $8.87B
10/07/11 Fri $1.72B
10/11/11 Tues $2.5B
10/12/11 Wed $8.87B
10/13/11 Thur $4.882B
10/14/11 Fri $4.6B
10/17/11 Mon $1.37B
10/18/11 Tues $2.5B
10/19/11 Wed $4.88B
10/20/11 Thur $8.87B
10/21/11 Fri $4.6B
10/24/11 Mon $2.5
10/25/11 Tues $4.6B
10/26/11 Wed $8.87B
10/27/11 Thur $2.5B
10/28/11 Fri $8.87B
Total Est. = $91 Billion
Not true. Some of those are sales. Here's the POMO schedule straight from the FED,
Guess they are buying LULU CMG AAPL etc....risk still on...
I hate it when Robo's right
See the reversal in lqd?
Again, as the Chicago PMI is calculated using a different seasonal adjustment procedure (X11) than the other economic time series, comparability between this and other PMI indices is very limited.
What, we're in a recession?
what's the CDS for America? I want hedge against it
I thought, hmm, that's a funny time of day to put out that report then remembered... time difference different
employment was a strength and inventories were drawn down significantly. oddly enough this report demonstrates strength moving forward. it had a small miss, but strong forward looking numbers. not that this report will have any sway on markets, growth, etc since the big issues remain italys 10 yr yields, frances aaa credit rating, and the upcoming recognition that the u.s. still has huge fiscal problems combined with political deadlock.
political deadlock is actually bullish. someone has to have the nerve to shoot those who want to help.
there is a tale about a Chinese farmer who wants to speed up the rice harvest, everyday he'll go out into the field and pull on the sprounting plants to speed up the growth.
Are we able to calculate the risk that the fall of MF Global is going to unleash? If the Germans can find an 'Error' that produces a €55billion windfall and MF can make dreadful position size plays on the European crisis then it is almost very likely that other PM's made equally bad decisions. I f the house of cards that is Europe comes crashing down ,we will have a lovely scenario develop across the pond.
Between Europe's Bernie Madoff debt crisis solution and the Chicago PMI report, it should make for an interesting FOMC discussion on Wednesday.
Plus DeMarco announcing that he will not approve of principal forgiveness on Fannie/Freddie insured loans is likely to put Bernanke/Geithner/Obama's panties in a major twist!!!!!!!!!!!!!!!!!!!!!!!
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