Mkt Fag: Pay NO attention to muh CPI #s up, up and wait wat!? Slow drip down-edition
They had futures elevated prior to CPI #s released and once done those dropped but muh markets ignoring cause "it shows signs of peaking and 'slows' to 8.3%" just shrugged it off-you know they said similar things in the 1930s in Germany too and you all know, or should, how that turned out. Metals dropped on that at first-cause why not?-kek but then finally caught a bid -. You can see they dropped it to create space >>16253215 pb this is an old, tired pattern and if you take out that drop from just after the release Ag would be well over $22 and Au over $1870.-see moar below at Metals and yesterdays COMEX #s. Intentionally left out fuggen Cramer's bullshit before the mkt opened yesterday about "tepper closing his short position"-as why give him the space but it did habben and that is why the FUTS reversed before yesterdays open.
And it did not last long as the NAS is HALO'd starting at 11:42am est.
Big volume on the DOW @ neckline, SP500 and RUT-so same ole same ole. They can't help themselves and is massive leverage being attempted to be unwound-the depth of book just not there . You can see the big volume on the open-trying to shove shit out the door but realized they are stuck.
Slow drip down and then @ 1:58pm est a bottom was searched for-and all at once across them all….:I They fucked and know it so the "waiting" continues-I can hear them now " I got XXX @ XXX and IHAVE to unload it…what can you do?". Nuffin. The volume is pathetic is all and thestandout (as usual) is the SP500 22% of daily avg just before the last hour-last three digits on that avg is 666. Nasdaq is now down over 29% from its highs, Dow down over 17%, and the S&P almost 14%. FANG stocks are down over $2 trillion in market cap.
>>16253131 pb Consumer Price Index News Release >>16254126 pb Grocery Store Prices Up 10.8%, Most in Nearly 42 Years
What Peak? US Inflation Data Show Still-Torrid Price Pressures
https://www.bnnbloomberg.ca/what-peak-us-inflation-data-show-still-torrid-price-pressures-1.1764407
Top winner/losers-Dow, NAS, SP500, NASDAQ 100-focus on NAS because it is by FAR the most bloated of all https://markets.businessinsider.com/index/market-movers/dow_jones
Top winner/losers- NAS 100' https://''markets.businessinsider.com/index/market-movers/nasdaq_100
Top winner/losers- SP500' https://''markets.businessinsider.com/index/market-movers/s&p_500
** Moderna in the top gainers yesterday because muh earnings and then this today
>>16254280 pb Moderna CFO out after two days in the role as former employer Dentsply discloses probe of financial reporting
NYFRB Operations today-the paper game vs 'cash'
A total of$2.46Tin overall transactions today just to get to tomorrow-nuffin to see here-the bulk is the Reverse Repo-see below
Mortgage backed Securities (MBS)-but we are really gonna stop this we promise
$5.77B submitted (in 2 transactions) and $1.90B accepted-has gone down a little but they are still lining up at the teet
https://www.newyorkfed.org/markets/desk-operations/ambs
Reverse Repos
$1.876T and all taken and shitty paper shoved out-this is the stealth bailout that would never see the light of day if most knew this was going on-this is what it takes to keep the Primary Dealers/Counterparties "alove" every….single….night. That is T for trillion and NOT an error.
https://www.newyorkfed.org/markets/desk-operations/reverse-repo
Securities Lending Operations
$39.7B submitted and all of it taken same ol with 10yr biggest at $4.60B of that
Biggest chunk was same as yesterday the 10 yr Note w/ $5.286B
https://www.newyorkfed.org/markets/desk-operations/securities-lending
Treasury complex-see cap#3 10 year after a spike to just under yesterdays close it drifted down because muh 'flight to safety'-closing at their lowest yield close since 4/28 Same with 30yr (to close of yesterday then dropped) >>16254723 pb Ugly 10Y Auction Tails; Dealer Award Tumbles Bonds appear convinced of the 'recession' narrative as the short-end saw yields rise (Fed tightens) as the long-end collapsed (… and creates a recession that prompts easing). 30Y Yields fell 9bps today while 2Y yields rose 2bps. Prompting a significant curve flattening (policy error risk)
FOREX- USD-Ruble-Yen-see cap#4 for Ruble. US$ an early spike to $104.11 it was downhill from there and bounced on it's LOD from earlier. Ruble got someMAJORlove on all this and was at 0.015009 +0.000749 +5.25% 40 minutes into our session- >>16253579 pb but Europe closed if came off that +5.25% gain and it had two stabs at it and then off it..but fininshed strong 0.014981 +0.000721 +5.06% Muh ¥ dropped to 130.82 (remember it shows an increase when it's being devalued) but the got some back to 130.21-0.24 -0.19% at the same time the Ruble was doing the above. It strengthened as our session wore on closed @129.92 -0.53 -0.41% as the US$ dropped and slowly headed up but did nuffin after that $103.98 +0.06 +0.06%
Oil/EnergyWTI finished @ +5.64(+5.65% "slides" early because of muh 'unexpected' build in crude stockpiles-Distillate Inventories Plunge To 17 Year Lows-the headline build in crude stockpiles was largely offset by the withdrawal of nearly 7 million barrels of crude from the Strategic Petroleum Reserve last week. However it was quickly bought back up at $102.3x shortly after that was released. Pretty decent volume on that rise taking out the previous high-only just-looking tired. Diesel is exploding higher @$5.53…and all of out supply chain is basically wut nao? And they are still pissed too. Natty Gas-pretty flat today after it's drop and shallow recovery to mid $7 as it has just slowing climbed since that drop on the 9th. The news yesterday gave it the pop back over $7 >>16254334 pb and rumor no 'mo
Italian PM Draghi Floats Buyers’ OPEC Idea With US as Oil Prices Sting
https://www.bnnbloomberg.ca/italian-pm-draghi-floats-buyers-opec-idea-with-us-as-oil-prices-sting-1.1764493
Russian oil tankers turn to stealth shipments under sanctions -saw this with the NoKos too
Ship data shows sharp rise in crude with no set destination. Nearly a third of oil tankers operated by Russia's largest maritime transport company were sailing without reported destinations at times since the invasion of Ukraine, in what analysts say shows the difficulty of enforcing Western sanctions on Moscow's energy exports.
https://asia.nikkei.com/Economy/Trade/Russian-oil-tankers-turn-to-stealth-shipments-under-sanctions
Metals-see cap#5 for after the bell pricing here: Ag +0.31 +1.46%, Au +15.30 +0.83%- Dropped like a rock prior to the CPI# release and then quickly back up catching the bid as predicted yesterday >>16249291 pb >Ag/Au will catch a huge bid after that (CPI) mess is released. 422,310,000/ozs of Ag 'traded' on COMEX yesterday. New HOD just as it closed for the weekly 'print' in Au but Ag (and not surprised) worked off a bounce @ $21.57 but remained controlled as it always is. COMEX print wuz $1,853.70/oz on Au and $21.53/oz on Ag. Of note some big transactions before and right on the NYMEX open today: 16.99K at 5:16am est, 19.40k at 6:04am EST and 27.28K right on the NYMEX open @ 8:30am est-muh rocket science again. Gold/Silver ratio declined a bit today $85.932 −0.483 (−0.56%)-STILL A GIFT!!! https://goldprice.com/gold-silver-ratio/ https://www.cmegroup.com/markets/metals/precious/silver.volume.options.html#optionProductId=458
Some thangz…
in muh crypto news
>>16254935 pb Coinbase earnings were bad. Worse still, the crypto exchange is now warning that bankruptcy could wipe out user funds
Aramco Topping Apple Shows Oil’s Primacy in Energy-Short 2022
https://www.bnnbloomberg.ca/aramco-topping-apple-shows-oil-s-primacy-in-energy-short-2022-1.1764560
this is just an example as the # is not that large but an on-going issue
Goldman Sachs-backed firm buys Florida community of single-family homes for $45 million
An investment fund backed by Goldman Sachs has recently purchased an entire community of 87 single-family rental homes in Central Florida for just over $45.7 million, according to reports. https://www.foxbusiness.com/economy/goldman-sachs-backed-firm-buys-florida-community-single-family-homes-45-million
https://finance.yahoo.com/quote/%5EIXIC
https://www.marketwatch.com/investing/bond/tmubmusd30y
https://www.marketwatch.com/investing/bond/tmubmusd10y
https://www.marketwatch.com/investing/index/dxy
https://www.marketwatch.com/investing/currency/rubusd
https://www.marketwatch.com/investing/currency/usdjpy
https://www.kitco.com/charts/livegold.html