Archive - Nov 2011
Greece Sends Global Markets Into Tailspin Again: European CDS Spreads Demand Another Bailout
Submitted by Tyler Durden on 11/01/2011 06:20 -0500The futures are tumbling with U.S. futures falling in sympathy with plunge in European stocks; Italy’s FTSEMIB index down 5.3%, DAX down 4.4%, CAC down 4.3%, Spain’s Ibex down 4.1%, FTSE down 2.9%. But here is the true reason why Europe already needs another bailout, or the promises thereof, courtesy of those so vile CDS which no matter how hard it tries, Europe just can't kill:
- Italy CDS Rise 45.5 bps to 491; update +53 495/505
- France CDSs rise 14 bps to 190; update + 17 191/196
- Spain CDSs rise 33.5 bps to 374.5; update + 41 375/385
- Portugal CDSs rise 57 bps to 1,028; update + 71 1015/1055
The reason? Why Greece of course: the same referendum decision that it took the market yesterday 45 minutes to process before the sell off began.
RANsquawk European Morning Briefing - 01/11/11
Submitted by RANSquawk Video on 11/01/2011 05:13 -0500
Nobel Prize-Winning Economist: “War Is Widely Thought To Be Linked To Economic Good Times … NONSENSE”
Submitted by George Washington on 11/01/2011 02:48 -0500A no brainer ...
Retail Trader Positioning 1st November – EURGBP switcheroo
Submitted by Pivotfarm on 11/01/2011 01:42 -0500A strong shift in sentiment against the Euro was the theme of yesterdays action, this has resulted in a big shift in retail positioning in the EURGBP today which went from over 60% of retail traders being short (and correct) to now over 60% being long (and wrong as they are most of the time). In keeping with our contrarian view we maintain a short bias on EURGBP.
