QEternity

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Een DOW op 30000 en een AEX van 700?

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Niets is de geldjunkies te dol!

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Er is nu nieuwe hoop op QE 4

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en die wordt meteen ingeprijst!

Philly Fed Posts Fifth Consecutive Negative Print, As Hopium Soars By Most Since 1991

Submitted by Tyler Durden on 09/20/2012 – 10:18China Debt Ceiling Market Conditions Philly Fed Reality recovery 

The Philly Fed’s current September Business Indicators index, long ignored when bearish and cheered when bullish, came slightly above expectations of -4.5, printing higher from last week’s -7.1 to -1.9. This was the fifth consecutive negative print. And while there were no major highlights in the index, whose New Orders rose from -5.5 to 1.0 at the expense of Shipments and Inventories, both of which imploded to worse then -20, the real story is the Six Months expectations index, which exploded from 12.5 to 41.2: this was the biggest spike may not ever, but certainly in the past 22 years! Is there any wonder why everyone is transfixed with hope that Q4 will be the deus ex that saves the US economy. And so we are back to being a hopium driven economy – when reality sucks, there may not be muchchange, but there is always hope that finally, the central planners will get it right, and the future will be so bright you’ve gotta wear Made in China shades. One word of caution: if the so very much anticipated and 100% priced in Q4 recovery does not materialize, and with the fiscal cliff and debt ceiling issues still unresolved, get the hell out of Dodge, as the spread between hope and reality comes crashing.

Tyler Durden's picture

Bad News Is Bad News Again

Submitted by Tyler Durden on 09/20/2012 – 09:52ChinaWe explained last week why the initial exuberance from QEternity was likely to fade since it basically removed all suspense from futures FOMC announcements – i.e. that bad news would once again become bad news as opposed to bad news stoking the hopes or more-er QE. Well this morning’s bad news – to wit: China PMI, Europe PMI, and US initial claims – has indeed had a detrimental impact on S&P futures as they approach fresh post-FOMC lows.

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