Unreal Rumors-IMF to lend EU $600 BB-NOT!

About 30 minutes before the close as the market was rolling over from an all day affair with filling the gap, the Nikkei News wire announced:

• G-20 CONSIDERING IMF LENDING PROGRAM FOR EUROPE:NIKKEI;
• G-20 CONSIDERING $600B IMF LENDING PROGRAM FOR EUROPE: NIKKEI

This ignores the fact that the IMF doesn't have the money and is short $120 bb to fund already proposed credit facilities, but irregardless, the market latched on to the rumor that had a half life of about 15 minutes as CNBC's Steve Liesman confirms the truth that there is NO basis to the rumor.

"Imf official denies 600b aid rumor.

And that's the end of that!

CONTEXT shows that only equity traders fell for this one as broad risk assets didn't move.

ES in red, broad risk assets in green, I guess some might call equity traders the biggest fools based on this latest rumor, which at this point is well above and beyond the 2008 rumor cycle. It's beginning to feel a lot like a market thats a lot worse off then 2008.