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
19,430 Blog Posts

Big Job Report Miss — Treasury Yields Plunge — More Trump Shenanigans

Massive miss in the May nonfarm payrolls.

May Nonfarm Payrolls 75K vs 180K

No one gives a shit, sans the bond market — who are chimping out now hardcore — pressing the 10yr to 2.06%

In case you’re wondering why futures are +100 while yields are getting crushed — here it is.

S&P SPDRs futures spike on headlines that the U.S. has decided to give some China products additional time to avoid tariff hike

See: Trump is a fucking brainlet. He just does things out of impulse and then quickly corrects his first instinct with a more measured approach. This is fine thinking, if it were not for the fact he was President and his actions causes stocks to plunge and surge with every god damned tweet or idea that emanates from his empty head.

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6 comments

  1. gsofield

    He must really get a hard on for having so much power and control over the markets. I really hope he is playing 3D chess and not just some imbecile who couldn’t beat a 3rd grader at checkers. The market shenanigans is just absurd. Its a daily occurrence and surely frustrating the shit out of people managing real money. The term “free markets” is laughable. People buy every dip with the reassurance the Fed is going to rescue them. The jobs report is a joke. Whatever the number was it was going to be bullish. More jobs? Great, the economy is still booming. Less jobs? Great, the Fed will lower rates and we get more free money for buybacks. Pile on folks. Can’t lose…until we do. When does reality hit?

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    • numbersgame

      Read Fly’s last paragraph to understand Trump.

      The whole Mexico thing was not part of any strategy, it was just Trump lashing out because of Mueller’s press conference.

      Trump’s first reaction is always primitive, and his second reaction is always based on the question “How will this work out for ME, ME, ME?”

      The only reason that the China tariffs haven’t disappeared yet is because Trump doesn’t want to look weak or to look like he’s caved. The Chinese just need to hand Trump a solution that lets him save face, the US economy is a distant second (third, forurth?) in Trump’s calculations.

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  2. cancel19

    The last time reality hit was the Great Depression and the Great War of Northern Aggression.

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  3. WrongView

    You could say Trump’s approach is chaotic…and 3 years ago that’s what you said you wanted.

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    • juice

      Trump’s keeps everyone on their tows … just what the Doc ordered for the sleepy citizens of this here empire … he is woking them up

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  4. mx2101

    Indeed. Electoral majority of voters wanted this.

    Moving forward, I hope election process remains as deliberative as possible. It should not be instantaneous in the heat of the moment, like drunk strangers getting married in Las Vegas.

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