A plaque remaining from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem.

Above, a 1934 plaque from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem. Discarded as trash in 2006. Now a Popeyes fast food restaurant on Google Maps.

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Entry from December 23, 2013

“Taper” became a financial buzzword in 2013, when there was speculation that the Federal Reserve would lessen its “quantitative easing” (what some have called “money-printing”) program. In December 2013, the Federal Reserve officially announced that it would “taper.” The term “untaper”—to continue or to increase quantitative easing—immediately became popular.
“Untaper” was cited on the financial blog Zero Hedge on May 31, 2013. A Twitter message of June 3, 2013, from zerohedge, was:
“The UNTAPER arrives - Fed Increase of QE Pace Can’t Be Ruled Out, Lockhart Says.”
Wiktionary: taper
(third-person singular simple present tapers, present participle tapering, simple past and past participle tapered)
1. (transitive) To make thinner or narrower at one end.
2. (intransitive) To diminish gradually.
Zero Hedge
Market Update: Taper ‘On’ And ‘Off’ Everywhere
Submitted by Tyler Durden on 05/31/2013 11:24 -0400
While the dollar is pricing in the Taper, stocks are already looking beyond this transitory event, and in line with what happened after the end of QE1, QE2, Operation Twist, and QE3, has started pricing in the ‘Untaper’. As an aside, we also we had a monster $5.016 billion POMO today… Though frankly, one glance at the charts below and it is pretty clear what is really driving today’s action in stocks - cough JPY cough…
The UNTAPER arrives - Fed Increase of QE Pace Can’t Be Ruled Out, Lockhart Says
10:33 AM - 3 Jun 13
Alex Goncalves
bottom is in for the day… CNBC will untaper the possible future tapering that wouldn’t untaper itself. http://cl.ly/PkSH
1:06 PM - 19 Jun 13
Zero Hedge
S&P Dumps 36 Points From Highs, Loses All Un-Taper Gains
Submitted by Tyler Durden on 09/23/2013 10:19 -0500
It was fun while it lasted but it seems a recognition that the Fed will have to Taper at some point sooner rather than later (for these four reasons) combined with the Washington anxiety hotting up seems to have sparked a “sell the news” event on the back of good news (China PMI, EU PMI, Merkel, AAPL). Perhaps, just perhaps, the final short overhang was wrung out inlast week’s epic spike courtesy of a Fed that didn’t like how consensus was in line with them. Notably, bonds are rallying in a very old-normal rotation to weak growth/safety manner and are near post-FOMC low yields. Gold remains well above its pre-FOMC lows and the USD remains well below pre-FOMC levels. In other words, US stocks have given back the most of all assets impacted by the un-Taper.
Zero Hedge
Gold & Silver Play Catch Up To Stocks’ Un-Taper Exuberance
Submitted by Tyler Durden on 12/09/2013 10:00 -0500
Silver prices are up over 1.5% this morning and gold +0.6% as the PMs play catch-up to Friday’s post-NFP ‘goldilocks’ performance in stocks. Whether this is also fallout from Baidu’s Bitcoin decision is unclear but gold did spike in early Asia trading.
Luis D Garcia
#Untaper added to the financial lexicon.
6:39 PM - 18 Dec 13
Antonia Oprita
New word of the day: #untaper You heard it here first!
9:07 AM - 19 Dec 13
Patrick Grattan
How many periods must the FED continue it’s Taper before it can unTaper? #Credibility
9:13 AM - 19 Dec 13
Zero Hedge
China Folds, “Un-Tapers”; But Repo Rates Remain Elevated
Submitted by Tyler Durden on 12/23/2013 21:09 -0500
UPDATE: Un-Taper didn’t work - 7-day repo just hit 9% as (just as we warned) the small banks are left wth scraps
For the first time in 3 weeks, the PBOC un-tapered and added CNY 29 billion liquidity (via reverse repo). Despite the Chinese governments denial of any liquidity crisis, the decision to “fold” reflects a clear indication that, as Monex strategist Eimear Daly notes, “China’s attempting to incrementally liberalize markets and to allow instabilities to unwind with minimal damage; and spikes in interbank lending rates show authorities are struggling to manage this task.”

Posted by Barry Popik
New York CityBanking/Finance/Insurance • Monday, December 23, 2013 • Permalink

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