rule number 1. never make a trade that has the potential to take you out.
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huge bond move
- Thread starter Free Thinker
- Start date
rule number 1. never make a trade that has the potential to take you out.
http://quote.bloomberg.com/apps/news?pid=10000006&sid=a15loRAYD15I&refer=home
`Complete Despair'
Banc One Capital Markets Inc.'s trading desk in Chicago was in ``complete despair'' after the jobs report, said Ray Remy, head of the bank's Treasury and agency debt trading. ``We were upset the market was going to much lower yields. Four guys turned around and swore, because it's difficult to get people involved at these rates.''
http://quote.bloomberg.com/apps/news?pid=10000006&sid=asdGaX9f4LF4&refer=home
``The first reaction out of most people was to scratch their eyes in disbelief,'' said Jeremy Fand, senior proprietary currency trader at WestLB AG in New York. ``Every signal I have tells me the dollar is to be sold.''
`In Shock'
``Traders were in shock. It was a number that very few people envisioned,'' said Michael McGuinness, senior director of foreign exchange in New York at American Express Bank, a unit of the world's biggest corporate travel agency. ``There's going to be very little discussion about the Fed raising rates any time soon, so the dollar will probably be vulnerable against the European currencies,'' reaching as weak as $1.25 even today
`Complete Despair'
Banc One Capital Markets Inc.'s trading desk in Chicago was in ``complete despair'' after the jobs report, said Ray Remy, head of the bank's Treasury and agency debt trading. ``We were upset the market was going to much lower yields. Four guys turned around and swore, because it's difficult to get people involved at these rates.''
http://quote.bloomberg.com/apps/news?pid=10000006&sid=asdGaX9f4LF4&refer=home
``The first reaction out of most people was to scratch their eyes in disbelief,'' said Jeremy Fand, senior proprietary currency trader at WestLB AG in New York. ``Every signal I have tells me the dollar is to be sold.''
`In Shock'
``Traders were in shock. It was a number that very few people envisioned,'' said Michael McGuinness, senior director of foreign exchange in New York at American Express Bank, a unit of the world's biggest corporate travel agency. ``There's going to be very little discussion about the Fed raising rates any time soon, so the dollar will probably be vulnerable against the European currencies,'' reaching as weak as $1.25 even today
Quote from SethArb:
someone knew something ... or got word before everyone else
Treasuries flew before 8:30 am
even before FX , Gold , Stock Index Futures blinked
I have to agree. 30yr futures moved almost a full 32 ticks at least 10 seconds before 7:30 CST, shortly followed by the 10yr and then the Bund. Very fishy.