Archive - Dec 22, 2009 - Story
RANsquawk 22nd December Morning Briefing - Stocks, Bonds, FX etc
Submitted by RANSquawk Video on 12/22/2009 05:33 -0500
Guest Post: Y2K Pent-Up Selling Demand Model For E-minis At Onset Of 2010
Submitted by Tyler Durden on 12/22/2009 05:15 -0500The stock market rescue operations of 2009 have created pent-up selling demand. We should all anticipate profit-taking on the first two or three trading days of 2010. Previous examples of pent-up selling demand that led to sharp stock market declines in the first two or three trading days of the New Year were 2005 and Y2K. This report examines the Y2K pent-up selling demand model.
Moody's Downgrades Greece To A2, Keeps It Two Notches Above S&P And Fitch, Prostitutes Itself Again
Submitted by Tyler Durden on 12/22/2009 04:54 -0500The rating agency that has gotten selling out down to an art, just downgraded Greece from A1 to A2, yet kept it two notches higher than where the country is now fairly rated by Fitch and S&P, thereby preventing the country from collapsing into a liquidity crisis. By taking this action, Moody's has once again proven its utter worthlessness, by pretending to be objective while at the same time keeping an artificially inflated rating high enough to prevent the unforeseen spillover effects from Greece's inability to use Treasury's as ECB collateral: the definitive first domino to fall in Europa, about which we wrote 3 days ago.
