iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,474 Blog Posts

Shallow Victories Plague Ignorant Traders

The SPY is down 0.24% over the past 5 days and flat over the past 3 months. There is a palpable apathy in the market now — something which could be seen by viewing the traffic stats for many of the top finance sites. Luckily for the good folks at iBC, we’ve joined the civil war in fomenting angst and outrage by actively discussing the elections — which has exempted us from stark traffic declines and instead given us bounty.

Consumer sentiment numbers plunged to 87.9 v expectations of 92. The reason? Elections.

It’s probably horseshit, but none of that really matters during a +150 day. Nonetheless, you shouldn’t enjoy shallow, meaningless victories with too much vigor — as the stock market gods frown upon the ignorant and the weak minded cocksure.

Goldman Sachs and the cabal of bankers are enjoying today’s run — thanks to an optimism over a widening yield curve, which will be realized after Fed rate hikes.

In other words, inspite of the fact that consumer sentiment has undergone a spirited decline, and general economic conditions continue to deteriorate on a global basis, seemingly stupid Fed policy threats are a boon for markets today.

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11 comments

  1. metalleg

    “…which will be realized after Fed rate hikes.”

    Did I read that correctly?

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  2. Dr. Fly

    Higher rates helps yield curve

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  3. Marc David

    FED will raise rates by December by 25 BPS… end of story. With only 2 scheduled in 2017. It’s hardly a raise but it bodes well for banks that are pushing the narrative.

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  4. roundwego

    fucking idiots. when triggered, it will cause panic and fear instead of stabilizing the market.

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  5. peso trader

    IWM just went red

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  6. roundwego

    fucking obama sold his soul to get obamacare. so he double fucked us. increasing medical industry corruption and increasing wall st corruption.

    http://www.zerohedge.com/news/2016-10-14/most-important-wikileak-how-wall-street-built-obama-cabinet

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  7. roundwego

    dollar close above 98 this week?

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  8. the dude

    Regardless of the Fed one way or another, the relevant game right now is LIBOR. LIBOR is rising and will continue to rise because of the changes in rules for prime money market funds. Since LIBOR is the benchmark for setting rates in say oh I don’t know stuff like mortgages and CLOs it might be kind of important. We are in the midst of rising rates right now.

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  9. roundwego

    Its about to get real. Douche bank is toast. Short DB with vigor. Guess should ignite libor.

    http://www.zerohedge.com/news/2016-10-14/deutsche-banks-biggest-investor-getting-worried-government-rules-out-state-bailout

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