Thursday, May 06, 2010

Old Skool

Man, today feels "old skool", doesn't it? First Macro Man's favourite 2008 whipping-boy Jean-Claude Trichet responds to Armageddon in the monetary union by sticking his head in the sand.....and then risk gets walloped in a beating worthy of a pre-Robin Givens Tyson. It's been a while since we've seen a red "-6%" next to EUR/JPY on the screens, or a day with so many loooooooong blue candles....

11 comments:

Leftback said...

Tell me someone big isn't short this:
JNK 35.820 -2.940 -7.585%

UFB!!! Risk returns....

Our Man in NYC said...

You'd expect so.
I'm curious to see if all those TBT/S Treasuries are moving for cover...

Leftback said...

Yeah, massive squeeze on in long bonds.
This really is just like old times. Spirit of '87?

Stefan said...

Market is toast when MM does not post...
Classic! :)

Harry said...

...and the rout is on. West Texas crude, silver cont contract, you name the risk asset, it's taking a beating like the Red Wings at the hand of the Sharks (there really is no joy in Motown).

Action in the secondary Treasuries market does indeed suggest the shorts' tables are being overturned, and they are being cast out from the Temple grounds.

wcw said...

This briefly was a really interesting day. Everything seems to have calmed down to merely down hard now.

I wonder how we open tomorrow. Fridays are always a little weird.

Leftback said...

More fun than a sack full of monkeys.

econobserver said...

I would need some whisky tonight when I watch the results of UK election. Enjoy the day that will make history.

BTW, on FT Alphaville today they mention that some hedge funds use financial blog comments to forecast the direction of markets. Could it be that they find out "Market is toast when MM does not post", and then act on it? surely hope not...

Leftback said...

Swing-o-meter showing 8.9% to C, they are talking a hung parliament.

Mr Market isn't going to be too happy.

byron said...

everything hard down..Except, the NZD is holding up rather well and will soon take over as the new reserve currency

FX said...

Testing system in DOW, had June puts 10500,10400,10300...leave it at that shall we..\

ps..ahh,MM,I see your an student of the old skool, you have'nt seen anything yet..play those cards comme il faut.