MARKETS TODAY: Something for the train home

Today’s market talking points:

Somebody unloaded a huge hangar full of FTSE stocks at 7.45 am – see chart

Futures have been negative, ‘relief not belief’ after Yellen fence-sitting

Footsie 100 down 1.34%, slide continues

Dow down 1.24%, slide continues

Dax down 3.1%, slide continues

Brazil index down 1.32%, slide continues

And if you Google ‘inflation expectations’ you’ll find they’re down right across the piece.

Time for your bourse ducks to be in a row and ready for exit.

Hugely connected from earlier at The Slog: Yellen in a corner, & no Little Jack Horner

36 thoughts on “MARKETS TODAY: Something for the train home

  1. O/T but it’s Friday and, I’m told this is authentic.
    Have a great w/e.

    On 17 September 2015. Press Release

    The Union of the Muslims of Kazakhstan proposes to introduce in the country of sexual tax

    Warmly by supporting the government’s decision to impose a tax on the collection of wild berries and mushrooms, the union of Muslims казахтана (KMA) and the Muslim, the committee on human rights in Central Asia (Iachr CA) offer not to be complacent and introduce in the country, among other things, a sexual tax.

    In conjunction with the leading economists and сексологами country staff qms and iachr central Asia have developed a unique system of taxation intimate areas:

    1. Every Kazakhstani, consisting in legally married, is obliged to pay tax in the amount of 584 tenge for 1 половый act;
    2. If the sexual act took place in a civil union, the tax will be 748 tenge;
    3. Extramarital sexual intercourse-1893 tenge;
    4. Sexual intercourse representatives of sexual minorities-2741 tenge;
    5. Non-traditional sexual intercourse-4892 tenge;
    6. the duration of the act shall not exceed 14 minutes. Otherwise, establishes special rates;
    7. for foreigners pricing increases in two times;
    8. Persons with disabilities and pensioners are exempt from tax;
    9. in order to save energy by power should not exceed 5 horsepower or 3,5 kilowatt;
    10. If the volume of the engine is greater than the generally accepted norms, establishes special rates;
    11. In The Case, even if one partner owns the state language, tax is reduced by 50 %

    Every kazakhstani is entitled to acquire a monthly subscription or travel ticket for a period of 1 year, which will enable to save considerable funds.
    In the event of a violation of the law, the perpetrators will be punished with a fine in the amount of 500 xmrp or be involved in community service.
    To Monitor the implementation of the law should establish a special units of the police, sexual endowed with the right to intrude in housing without the approval of the prosecutor at any time of day.
    All fees from sexual tax are listed in the state budget. They will be used for the improvement of the reproductive health of kazakhs, as well as for the fight against sexually transmitted diseases.
    Muslim human rights defenders are sure that you don’t just let such an important area of human life in letting nature take its course. The State must carefully its control to preserve the moral fabric and the achievement of significant progress in the demographic sphere.

    The Press service
    Union of Muslims


  2. This collapse of markets, all been done a few years back, so the trickle collapse starts again just going to be curious at what point the global reserve currency steps in to stabilise the markets once more … or … does everybody print on their own next time?

    Reckon QE before NIRP or the outlawingof cash because those last 2 will accelerate the end of the economic system as people will be driven to develop alternative trading systems for the future which is actually the opposite of what they want. That means toilet paper or anything else is going to be a better trade in future to get your money out of a bank immediately.
    Then trade the toilet paper with somebody else for a tin of beans … rather good that.

    If they wake up to the situation there is no way out of this, but because they are the deniers we can try them for all the suffering created by their denials and a prison sentence is simply not harsh enough.


  3. And while you are pondering future issues… I found this thought provoking


  4. Well if you let the tail wag the dog – that is to say, the stock markets are more important than the productive businesses that are represented on it – any upset is going to affect the country’s economy.


  5. Am normally against burning books but Austrian school economics was to the fore in the run up to the collapse of world economies in 1910/20 & once again now,surely to world class financial collapses of these magnitudes deserve that such poppycock is outlawed & only used in education has how not to run economies!


  6. This little piggy went to markets,
    This little piggy stayed home,
    This little piggy had roast pork,
    This little piggy had none,
    And this little piggy went QEe QEe QEe all the way to the bank.

    And so, you see, it’s not about sound money, it’s all about cannibalism.


  7. Indeed, but increasingly companies find it an attractive option to buyback their own stock…………. buying their own book in this environment can be safe, hence some companies share prices are hard to dent.


  8. One day, businessmen will realize the value of capitalism, rather than hiding behind fiscal niceties that appear safe – and so free from risk. The one thing missing in business today is trust – because trust eliminates fear in the relationship between two businessmen.

    Oh, sorry, businessmen don’t do relationships, do they? Which means fear drives all their decisions, rather than trust. Tail wags dog.


  9. I would imagine that volume in the FTSE futures at 7.45am is not great. An ideal time then to drive the market through stops placed by other customers. The trader who sold at the top of the ‘fat finger’ could have bought his position back at the bottom, making a nice profit. Meanwhile, other traders checking in at 8am would have found that their long positions were stopped out well below where the market was again trading.

    Having said that, it does seem that the Fed decision to not raise rates seems to have backfired, with market participants worried that the Fed held back because it knows more than is in the public domain about problems in the BRICs and elsewhere.


  10. As you read and scour the internet, all the talk of NIRP / QE a fabulous new term for NIRP.

    You pay for banks to hold your money through NIRP called …… BOB …. for banks on benefits and that is socialising the banking debt not just the sovereign debt. Taxpayers to be responsible for sovereign and now banking debt, I wonder what debt they will be held acountable for next?

    BOB it is …


  11. Macquarie Bank suggests an alternative to QE and NIRP. They suggest that the Central Banks could go ‘Direct’ and cut out the ´Middle Men’. This would mean directly buying debt issuance of various stimulatory infra structure or renewables projects thereby directly stimulating activity. Their analysis suggests that this may buy a couple more yeras before the stmulus loses effect a.k.a QE et al but at least it keeps the game going for the status quo for a little longer.
    After the innovation we have seen from Central Banks over the last 7 years, this step does not seem outlandish at all!


  12. @jd
    Thanks for the link. My knowledge of history of Lincoln’s Greenback, the Bradbury Pound, Kennedy’s initiative in ’62 and the subterfuge of the Bank of Canada Governer’s unilateral decision to join the B.I.S. in 1974 is pretty nascent. When realisation dawns the scale of the crime is breathtaking. Psychopaths and sociopaths run our world at a fundamental level through this fraud of ‘National Debt’.


  13. Galati is a hero, IMHO, Canexpat. For background, may I suggest a book: Pawns in the Game by William Guy Carr?
    Carr spent 41 years researching the ills of the world & came up Banksters. Also mucho informative is Bill Still’s 3.5 hr youtube documentary: Money Masters.


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