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No Tapering Any Time Soon As Fed Announces $45 Billion Of July POMO Days

Tyler Durden's picture


It seems, based on the latest Fed POMO schedule that there will be no 'Taper' anytime soon. We are downgrading our communications warning from "shorting the market on these days 'will' cause pain" to "shorting the market on these days 'may' cause pain" based on the increased volatility and total disarray that appears to have broken out among the great, good, and wise at the Fed this week - we still await the big "just kidding..." line from the Bernank...

In summary, spot the non-tapering trend: May POMO: $44 billion; June POMO: $45 billion; July POMO: $45 billion.

It seems Friday 5th, Wednesday 17th and Thursday 18th are your best bets...


And this...

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Fri, 06/28/2013 - 15:20 | 3704232 TheMayor
Fri, 06/28/2013 - 16:43 | 3704632 Debtonation
Debtonation's picture

My guess is that most have figured out the POMO thing now and the effect will begin to be arbitraged out.  Sorry Bernanke, guess you'll have to come up with another way to blow a bigger bubble in the S&P---MOAR QE!

Fri, 06/28/2013 - 15:20 | 3704239 YuropeanImbecille
YuropeanImbecille's picture



Have a good weekend bitches!

Fri, 06/28/2013 - 15:25 | 3704265 CaptainSpaulding
CaptainSpaulding's picture

He's been there done that


Fri, 06/28/2013 - 15:23 | 3704241 Dr. Engali
Dr. Engali's picture

We will start tapering by the year 2030...we promise. It's like each administration promises to balanced budget two years after they are out of the office.

Fri, 06/28/2013 - 15:32 | 3704305 TheSilverJournal
TheSilverJournal's picture

The tapering will commence much sooner but only after first increasing...multiple times...until dollars become worthless. When it becomes meaningless to create more dollars, the Fed will then stop creating more dollars. Ponzies have only two paths: inflate or implode.

Fri, 06/28/2013 - 15:22 | 3704247 insanelysane
insanelysane's picture
No Tapering Any Time Soon As Fed UNEXPECTEDLY Announces $45 Billion Of July POMO Days

fixed it for msm

Fri, 06/28/2013 - 15:24 | 3704248 Divided States ...
Divided States of America's picture

I like how they release this at 3:15 to coincide with the PPT ramp at close.

Also huge POMO right before July 4th so as to make Obama look like a genius when he speaks about how great America is.

Wow another year passed by and the same shitshow is still alive and well.

Fri, 06/28/2013 - 15:27 | 3704283 Bay of Pigs
Bay of Pigs's picture

Amazing, isn't it?

Almost like it's scripted? s/

Fri, 06/28/2013 - 15:35 | 3704317 TheSilverJournal
TheSilverJournal's picture

Of  course it's scripted. The central planners' ONLY goal is to keep the world fiat monetary ponzi from collapsing so they can wield power over their dear printing press for as long  as possible.

Fri, 06/28/2013 - 15:23 | 3704255 GolfHatesMe
GolfHatesMe's picture

BTFD, Wed July 17 & Thurs July 18, No POMO for Two days in a row!

Fri, 06/28/2013 - 17:16 | 3704726 auric1234
auric1234's picture

Isn't this a bit unusual? I wonder what they have in mind...


Fri, 06/28/2013 - 15:24 | 3704261 1929agin
1929agin's picture

Time ... just a matter of time...

Fri, 06/28/2013 - 15:25 | 3704263 semperfi
semperfi's picture

The Taper Talk will continue until morale improves.

Fri, 06/28/2013 - 15:26 | 3704270 Black Forest
Black Forest's picture

What tapering? Did I miss something?

Fri, 06/28/2013 - 15:26 | 3704274 Yen Cross
Yen Cross's picture

     Tony Hayward, "We no longer f*** the Earth, we DP it." One of the better things about 'South Park' quotes is that they often hit home quite humorously. British Petroleum, Dependable Petroleum, it's all the same, right?

  *Please insert proper subject matter.

Fri, 06/28/2013 - 15:33 | 3704309 ebworthen
ebworthen's picture

"Please step aside for people who actually have money with the bank."


"And...it's gone."


Wonder how many people in Cyprus have watched that clip.

Fri, 06/28/2013 - 15:38 | 3704343 css1971
css1971's picture

Coming to an Ireland and Spain near me soon.

There are a bunch of Spanish people working in my office, I have pointed out that their pension system is "all in" on government bonds. They don't seem to understand that they've already been screwed.

Fri, 06/28/2013 - 15:38 | 3704341 Unprepared
Unprepared's picture

Dealers, Primary?

Fri, 06/28/2013 - 16:59 | 3704679 Colonel Klink
Colonel Klink's picture

Yes the main dealers of monetary drugs to the eCONomy.

Fri, 06/28/2013 - 15:30 | 3704294 Al Huxley
Al Huxley's picture

I really like the annotated chart - it's a great comment on how absurd the markets are.

Fri, 06/28/2013 - 15:47 | 3704398 Tinky
Tinky's picture

By "absurd", I assume that you mean impressively sensitive to important clues uttered by powerful people.

Fri, 06/28/2013 - 15:32 | 3704302 q99x2
q99x2's picture

Fundamentals have been replaced by the Post-fundamentalist chorus at the FED. My Art Appreciation Professor would be proud.

Fri, 06/28/2013 - 15:33 | 3704304 Midasking
Midasking's picture

QE is the only bubble gum and chicken wire holding this whole charade together.. it is never going to stop... https://www.youtube.com/watch?v=_-txiNfPXpY

Fri, 06/28/2013 - 15:34 | 3704312 slaughterer
slaughterer's picture

They are going to need alot of POMO to support this market through one of the worst earnings seasons in a long time. 

Fri, 06/28/2013 - 15:37 | 3704335 Its Only Rock N Roll
Its Only Rock N Roll's picture

when was the last time earnings really mattered?

Fri, 06/28/2013 - 15:35 | 3704321 Unprepared
Unprepared's picture

I only have one question: "Do Algos get to know when and who of Fed's heads is about to speak, few microseconds prior?"

Fri, 06/28/2013 - 15:45 | 3704387 semperfi
semperfi's picture

Of course - the Fed dudes ARE algos/programs, like Mr. Smith.

Fri, 06/28/2013 - 15:56 | 3704438 ParkAveFlasher
ParkAveFlasher's picture

Twitter is the "network TV" of today, it disseminates information in a controlled manner, with the guise of being impromptu and random and spontaneous.  "Hey guyz no mo taperz k? #BenB"

Fri, 06/28/2013 - 15:44 | 3704381 ebworthen
ebworthen's picture

"All She Wants to do is Dance"


Don Henley - from the album "Building the Perfect Beast"

"But that don't keep the boys from makin' a buck or two
And all she wants to do is dance, dance"

Fri, 06/28/2013 - 15:57 | 3704421 ekm
ekm's picture

Economy is in contraction due to zero interest rates and QE


Only two options left:

1) Implode derivatives

2) Implode the economy


I do believe common sense still prevails. I do NOT believe that US leadership has gone totally bananas because this is an international issue, not just US centered.


I do believe we will have rate increase from the Fed by no later than September meeting and the decision has already been made to choose number 1.


Fri, 06/28/2013 - 16:02 | 3704469 kaiserhoff
kaiserhoff's picture

Yes, just a matter of time.

Some risks can not be insured and nonexchange based derivatives are a perfect example of that.

The large banks will still be insolvent, but that's another set of disasters.

Fri, 06/28/2013 - 16:10 | 3704501 ekm
ekm's picture

All misunderstanding about zero interest rates come from the misunderstanding of the concept of ...money.


Money cannot exist without positive real interest rates and an economy cannot last long without acceptable positive real interest rates.


At 0% or negative, money is un-monied and economy tilts toward barter

Fri, 06/28/2013 - 21:43 | 3705343 jon dough
jon dough's picture

I read you every day, ekm, thanks for the education...

Fri, 06/28/2013 - 15:54 | 3704428 surf0766
surf0766's picture

They know they have lost control. The only thing they can do is feed the pig.

Fri, 06/28/2013 - 15:57 | 3704443 orangegeek
orangegeek's picture

technical analysis for July = read the Fed report for July

Fri, 06/28/2013 - 16:04 | 3704478 Frank N. Beans
Frank N. Beans's picture

well the market certainly tapered today didn't it.


Fri, 06/28/2013 - 16:33 | 3704602 surfersd
surfersd's picture

Silver Bitchez!

My first post on this website nearly four years ago was the above - price was about the same as well.

Sat, 06/29/2013 - 07:59 | 3705777 Ned Zeppelin
Ned Zeppelin's picture

Not what they say, but what they do. All of this taper talk is pure jawboning.

Thu, 07/04/2013 - 23:32 | 3722732 Herkimer Jerkimer
Herkimer Jerkimer's picture

Can somebody explain to me why 45 billion?


Why not 43 or 52 or…


Did they just pull the number out of their ass?



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