A song in honour of negative bill yields

With apologies to the Stones...



I saw her today at the announcement
Her prepped remarks in her hand
I knew she would make that pronouncement
Uncapped RRPs now are banned

No you can’t always get what you want
You can’t always get what you want
You can’t always get what you want
But if you try sometime you find
You can get what you need

And I went down to place some cash
To get my fair share of abuse
Singing, “Short yields have really crashed
If I buy here, I’m guaranteed to lose!”, yeah

No you can’t always get what you want
You can’t always get what you want
You can’t always get what you want
But if you try sometime you find
You can get what you need

And I went down to the Chelsea wine bar
With a friend who was short T-Bills
I was standin’ in line with Mr. Jimmy
And man, did he look pretty ill

We decided to have a Bordeaux
My favoruite flavor, Pomerol
And I spun my line to my friend Jimmy
‘They can’t control cash rates at all’
I said

Oh you can’t always get what you want
You can’t always get what you want
You can’t always get what you want
But if you try sometime you find
You can get what you need

I saw her today at the reception
Pretend rate hike in her hand
And she was practiced in that art of deception
‘Cause I could tell that she really can’t

Oh you can’t always get what you want
You can’t always get what you want
You can’t always get what you want
But if you try sometime you find
You can get what you need


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11 comments

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Leftback
admin
September 25, 2014 at 3:46 PM ×

Oh, you are really on a roll...

Well, here is that test of IWM 110 that we had been discussing. That was fast!

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Mr. T
admin
September 25, 2014 at 3:47 PM ×

LB you pretty much nailed that durables number fx-wise. Nice call.

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Leftback
admin
September 25, 2014 at 3:55 PM ×

Was feeling like a dumbf*ck at 7am, but more like cock of the walk by 10am. Not sure if the durables number meant that much but it was a good excuse to pivot.

Yesterday had the flavour of silly money buying amid low volume. Despite the discomfort, held my nose and added to the stack of IWM puts and TLT calls yesterday and dipped a toe into some EURUSD, which also didn't seem very smart when I opened my eyes today.

Negotiating the next few months of active money management might actually require a bit of skill. Monkeys beware. The pellet machine breaks down from time to time, and sometimes the service technician from the Fed takes a while to show up.

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Anonymous
admin
September 25, 2014 at 4:17 PM ×

I figure before 2-10yr curve hits +180 , Yellen will drop a bomb about possibility Fed might sell a few long bonds
i see no reason 7yr UST won't run back to 2% where it was 5 weeks ago . Crazy cheap vs EU 10yrs

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Anonymous
admin
September 25, 2014 at 4:19 PM ×

Capesize rates down 7% today after 6% yesterday . Iron Ore now $78+ and new 5yr low . Rebar doing usual daily 8yr lows .

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Anonymous
admin
September 25, 2014 at 4:30 PM ×

Inflation expectations...

http://imgur.com/ZSo7pmr

The only raise you are going to see from the Fed is Yellen raising her skirt as she departs :)

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Leftback
admin
September 25, 2014 at 5:06 PM ×

The tell yesterday was watching all the defensives having a great day, always a sign that the long only guys know the game is up and are anxious to shore up the portfolio in order to minimize the damage.

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CV
admin
September 25, 2014 at 5:41 PM ×

"Negotiating the next few months of active money management might actually require a bit of skill. Monkeys beware. The pellet machine breaks down from time to time, and sometimes the service technician from the Fed takes a while to show up."

He he he he ... so, no monkey rally into year end (?) or will it just be a little bit of cold steel for Spoos brigade first? Oh, and well played on TLT ... taking "that flattening feeling" to a whole new level. God, this is amusing given how long the steepening/tapering trade the consensus was at the beginning of the year.

Claus

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Leftback
admin
September 25, 2014 at 9:07 PM ×

Ugly day for bulls. Rosh Hashanah strikes again. The profit taking was enjoyable. Tomorrow likely to be a snoozer but it will give us all a bit of time to pontificate about FX.

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amplitudeinthehouse
admin
September 26, 2014 at 9:31 AM ×

As for songs , That's it for the bulls this year, yesterday confirm it for me for the 2014 bull market, you knew it straight away when the tech market wasn't reaching new highs with the majors, and you taught traders what to watch out for without having to produce complicated analysis. If the SP500 was to sing a song it would be the following with out spending the time producing complicated analysis.

2014 Bull market , thanks for your intuition that never left me.

https://www.youtube.com/watch?v=wnG3ZD2TMVw&index=4&list=RDqEqqRtS3VLw

TELL ME

An examination a greeting in the night,
My hands are clean as bones
I am prone to fall gently into place.

Didn't I measure time,
I was always wide awake, in the night
Didn't I measure time,
I was always wide awake, in the night

Rise from your cold, cold bed,
Lay your hand to heat
I gave you madness,
Creep deeper, please

Didn't I measure time,
I was always wide awake, in the night
Didn't I measure time,
I was always wide awake, in the night

London is still tonight - Wont you make me stay
Keep your pretty eyes on the prize...
Ah ah ahhhh ....
oh oh ohhhh

Oh Alexander... bring you to your knees
Oh Alexander... bring you to your knees
Didn't I measure time,
I was always wide awake, in the night
Didn't I measure time,
I was always wide awake, in the night



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Polemic
admin
September 26, 2014 at 11:15 AM ×

And while we are on the songs.. the iphone6 song is here http://polemics-pains.blogspot.com/2014/09/the-iphone6-song.html

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