Submitted by Tyler Durden on 12/07/2011 - 16:25 Bond Brazil China France International Monetary Fund Japan Nikkei None United Kingdom Vigilantes
Sometimes we just shake our heads. Other times, we just sob anxiously into our handkerchieves. This afternoon's rumor-ramp-denial-no-dump was absurdity at its very best. A 16pt rip in ES on the basis of rumor of another bigger bazooka from the IMF (courtesy of Nikkei not the FT this time as we all know what their rumors are full of) was ignored by pretty much every other asset class. We tweeted almost instantly that the denial would be forthcoming in 10 minutes and sure enough it was. But wondrously, what goes up, does not come down as ES gave back a measly 5pts leaving it very far bereft of broad risk asset's perspective of value. Perhaps the best perspective on the incessant IMF-and-other rumors is from Peter Tchir "This is all circular and that circularity is coming back to haunt those people desperately trying to come up with new ways to extend and pretend."
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http://www.zerohedge.com/news/equity-market-goes-winehouse
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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