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Finance


"Safest Market Ever" Suffers Most 'Mini' Flash-Crashes Since 2012 Knight-mare
submitted by mephisto 6 days ago (via zerohedge.com)
Despite ex-CFTC-chief Bart Chilton's exclamation that "this is the safest market ever," Nanex's Eric Hunsader explains this morning's manic trading activity saw stocks suffer the most mini-flash-crashes since Summer 2012's Knight Capital collapse...  Source: Nanex @nanexllc
 
Time For The Plunge Protection Team: S&P Red For The Year, 10Y Under 1%, Europe Crashing. No Liquidity
submitted by mephisto 6 days ago (via zerohedge.com)
A quick summary of where we have been this morning: VIX > 27 (3yr highs); S&P 500 -0.4% year-to-date (6mo lows); 2Y TSY yield < 25bps (17mo lows); 10Y TSY yield < 1.90% (17mo lows); European stocks -3% (11mo lows) lows; US HY credit 410bps (15mo wides); WTI Crude $80.01 (28mo lows). So that can mean only one thing... PPT is in the house, courtesy of USDJPY... and ultra-low levels of l
 
This is a Recipe For a Crash
submitted by mephisto 6 days ago (via zerohedge.com)
Over the last 30 years, the US has built up record debts on a personal, state, and national level. Consumers thought they were financially stable so long as they could cover the interest payments on their credit cards, states created program after program few if any of which they could afford, and the Federal Government issued $30-50 trillion in debt and liabilities (counting Social Security and M
 
For Bond Shorts, The Pain Has Only Just Begun
submitted by mephisto 6 days ago (via zerohedge.com)
Speculative short positioning in 10Y Treasury futures, according to CFTC, is at its highest since 2007 as traders added to shorts last week. Net positioning in 10Y Treasuries overall is its most short since June as shorts piled on in the last 2 weeks by the most since the Taper Tantrum.  Net positioning  with the last 2 weeks shorts piling on the most since the Taper Tantrum. C
 
CDC Demands 132 Passengers That Flew With 2nd Ebola Patient Report For Testing
submitted by mephisto 6 days ago (via zerohedge.com)
But, but, but they said it wasn't contagious unless you came into contact with bodily fluids. According to the CDC, the 2nd health-care worker infected with Ebola traveled on Frontier Flight 1143 from Cleveland to Dallas on October 13th and are asking all 132 passengers on the flight to get tested. One question... what about the thousands of people that those 132 passengers came in contact wit
 
And The GDP Downgrades Begin: Goldman Slashes Q3/Q4 GDP
submitted by mephisto 6 days ago (via zerohedge.com)
Remember the data-dependent recovery, which until the NFP report two weeks ago, could seemingly do no wrong. Well, according to Goldman the recovery party just ended.From Goldman's Kris Dawsey:BOTTOM LINE: Business inventories rose less than expected in August. In light of the disappointing September retail sales report and slower-than-expected inventory growth in August, we reduced our Q3 GDP tra
 
What QE4: US Monetizable Deficit Drops To Just $483 Billion, Or 2.8% Of GDP
submitted by mephisto 6 days ago (via zerohedge.com)
Remember that in addition to its primary function, which is to push stocks higher i.e., the "wealth effect", the Fed's Quantitative Easing has another just as important role: to monetize the US deficit. Which is why the news that was released moments ago from the Treasury, namely that the US deficit for Fiscal 2014 has just fallen to a meager $483 billion, or 2.8% of GDP (mostly thanks to the GSE
 
Meanwhile, At Global Central-Planning Headquarters...
submitted by mephisto 6 days ago (via zerohedge.com)
An artist's impression of the panic currently gripping global central-planning headquarters. Courtesy of Victor Leonardi.
 
A Stunned Wall Street Reacts To Today's Epic Move
submitted by mephisto 6 days ago (via zerohedge.com)
The first report summarizing today's stunning market action comes from FBN's Jeremy Klein, who is out with this blurb:In the first 15 minutes of trading the S&P 500 E-Minis traded below the S&P 500 cash index despite a fair basis, according to Bloomberg, of -6.72.  This is unheard of and something I have never witnessed in my near fourteen year career on the Street.  I can only c
 
Market Rebounds But Marketwatch Crashes
submitted by mephisto 6 days ago (via zerohedge.com)
Whether it is due to the PPT, the NY Fed's brand new Chicago/HFT office, Citadel's more than arms-length transactions with Liberty 33, the BIS, or merely a frenzy covering of short, the market has so far managed to rebound modestly from its lows, if only to VWAP (as algos always do), although the day is certainly young. But while the rigged market is so far creeking along supported by every centra
 



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