Bad news is now bad news, apparently. S&P futures are now off by 17, NASDAQ by 40, following a weaker than expected jobs report. Consensus was looking for 203k jobs created in September and just 142k were made.
I don’t get it. Don’t you fuckers want slightly weaker numbers in order to get the Fed off the rate hike speech tour? No you don’t. You just want to sell stocks for any reason whatsoever. If we added 1 billion jobs in September, you’d still sell off the market. Sick bastards.
On a separate but related note, credit suisse is out with some research today discussing the current market mood and they’ve declared it to be one of ‘panic’. Well news fucking flash, assholes from Switzerland. No kidding.
Look, the markets are in crash mode. Commodity related sectors fell by 40% over the past 3 months. Global markets are in turmoil. The dollar is surging, causing our exporters a great deal of pain. Of course the economic data was worse than expected. That’s the whole fucking point of this great exercise in futility. The market was telling you this for months. What is supposed to happen now is simple:
The Fed will shut the fuck up and reverse their decision about rate hikes. Should the data get worse, they should consider another round of QE. Look at he bond yields. No one is pricing in a rate hike, but deflation.
Gold is soaring, up 1.7%. European markets have given up their huge gains and our futures are seemingly crashing through the floor boards.
Happy fucking Friday.
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FADE
Amazing how the indexes are masking hte utter carnage in so many sectors.
Should be an interesting January effect trade this year.
Happy to stay long.
DAX is only down .25% after being up 1% earlier. Futures traders are idiots.
Fed just needs to admit they’re wrong on growth. Tough task for such arrogant bastards but if they find such humility stocks will explode.
All in all, the number is a non event. Nobody really thinks the economy is healthy.
oil?
Commodities catch a big bid here, especially gold.
Hey Fly it seems like most people keep saying “well they have to raise rates at some point.”
I remember one time you said rates would never go up – is this what you hope?
It’s not my hope, but the only course of action that makes sense .
perhaps you should pen the Fed a finally crafted missive Dr.
fed missed their window and the market is pissed apparently
Doctor, did you laugh when the blond on TV said this indicates Yellen has been vindicated?
The “just get on with it” cretins seem to have crawled into the shadows. It’s been over an hour and I haven’t seen one appear on CNBC yet this morning – which is unusual.
we dont need a qe now
Fuuuck. I spoke too soon. Simon Hobbs thinks the Fed should raise rates to “reassure the markets.”
Simon Hobbs is an idiot par excellence.
Can’t wait to hear Furman say this administration has been creating more jobs for the last 9000 months. BUT, it still needs to be better.