Draghi's bazooka misfired spectacularly

From Zero hedge - by Tyler Durden

Spanish sovereign bond spreads blew almost 60bps wider today - that is the single-largest absolute move in spreads on record. Almost the entire gain in bonds post-Draghi 'Believe' speech from last week has been retraced in a mere few hours and while the front-end of the Italian and Spanish curves has outperformed, the sad fact is that in promising to maintain that end, then the entire rest of the curve becomes subordinated and therefore is sold as hope fades. Swiss, German, and Dutch short-dated bond yields all dropped to new record low rates. EURUSD has retraced its entire gain from Draghi-'believe', back to 1.2150 - despite his call not to short the EUR. Equity markets in Europe has dumped across the board today - with Italy and Spain -7% from pre-Draghi this morning - though notably still full of some hope from last week. It would seem that perhasps Mr. Draghi should keep his arrogant mouth shut a little more as we thought price stability was his mandate? The largest rise in EGB yields in a decade - all on the back of his misguided and over-confident egotistical attempt to jawbone markets to his reality.

Spanish bond spreads rose the most on record today...

as the entire gain from the Draghi 'believe' speech is gone...

and EURUSD has retraced the entire gain also...

but European stocks remain well above pre-Draghi-believe levels - despite a huge dump today...

It would appear to us that all those who 'believed' and bought and dreamt of times greater than this as we turn the corner on the Europe debalce will be just as dismally disappointed and dismissive of any future 'promises' as some of the more skeptical among us. If not, then we remind them - when you sit at the table and can't tel whop the sucker is - it's you!

Charts: Bloomberg

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Related:

The ECB's Mario Draghi: all posing pouch and no trousers

Draghi delivers- by Ambrose Evans-Pritchard

BNP Furious That Draghi "Jumped The Gun"

30 years of secret, official transcripts prove vaccine schedules in US and UK are based on government lies

Ethan A. Huff, | Natural News

A comprehensive investigation into the inner workings of the U.K.’s nationalized healthcare system has revealed a shocking legacy of corruption and lies concerning the country’s vaccine policy.

According to Dr. Lucija Tomlijenovic, Ph.D., from the University of British Columbia in Canada, the advisory and governing bodies that set vaccination policy in the U.K. have, for many decades now, hidden the truth about vaccine dangers, and deliberately pushed unsafe vaccines on the public in order to uphold the official vaccination schedule.

Official documents uncovered from secret meetings of the U.K.’s Joint Committee on Vaccination and Immunisation (JCVI), an independent body that helps set vaccination schedule policy in the U.K., reveal that JCVI ignores independent data showing vaccines to be unsafe, and reinforces questionable data produced by vaccine companies claiming that vaccines are safe. The group also discourages all research that might question the safety of vaccines, and knowingly lies to parents in order to increase the overall vaccination compliance rate.

“[T]he JCVI made continuous efforts to withhold critical data on severe, adverse reactions and contraindications to vaccinations to both parents and health practitioners in order to reach overall vaccination rates which they deemed were necessary for ‘herd immunity,’ a concept which with regards to vaccination, and contrary to prevalent beliefs, does not rest on solid scientific evidence,” writes Dr. Tomljenovic in her paper.

“Official documents obtained from the U.K. Department of Health (DH) and the JCVI reveal that the British health authorities have been engaging in such practice for the last 30 years, apparently for the sole purpose of protecting the national vaccination program.”

The 45-page paper blows the lid off the myth that government vaccination policy is based on sound science, and instead shows that vaccine advisory committees, which help set vaccine policy, are typically padded with vaccine industry shills that specifically promote vaccines in spite of evidence showing their dangers. This has been true in the U.K. since at least the early 1980s, and it is certainly true in the U.S. as well. (http://www.naturalnews.com/033455_Institute_of_Medicine_vaccines.html)

Dr. Tomlijenovic explains; for instance, how JCVI has known since as early as 1981 that the measles vaccine, which is part of the government’s official vaccine schedule, is linked to long-term neurological damage and death. She also outlines, with full citations, evidence showing that JCVI has long been aware that many of scheduled vaccines cause permanent brain damage in children, but have continued to promote those vaccines anyway.

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