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ECB Peripheral Bond Purchases In Sleepy Christmas Week Double To E1.1 Billion

Tyler Durden's picture


That sneaky JC Trichet: while the rest of the banker world was preparing to hit the Telluride slopes to spend some of that hard earned taxpayer bailout cash, and otherwise leaving the fate of capital markets to Getco and two or three HFT traders, Trichet was once again busy bidding up every sovereign bond in the secondary market he could find. While in the week ended December 20, the ECB bought just E600 million, which in turn was the lowest since October and before Europe went bankrupt for the second time in a row, last week purchases jumped by nearly 100% to E1.1 billion, bringing the total to E73.5 billion. Which is surprising as there was very little on the surface to indicate that there was so much revulsion associated with sovereign exposures at least as determined by European stock bourses, meaning that equities and bonds even in Europe where there has been at least some tenuous linkage, have completely decoupled and joined their American cousins.


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Mon, 12/27/2010 - 13:06 | Link to Comment doolittlegeorge
doolittlegeorge's picture

emancipate yourself from mental slavery/none but ourselves can free our mind/have no fear of atomic energy/none of them can stop the time

Mon, 12/27/2010 - 13:08 | Link to Comment TWORIVER
TWORIVER's picture

The Devil cannot win because I am in no fight.

Joseph Hill, Culture

Mon, 12/27/2010 - 13:06 | Link to Comment RobotTrader
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Meanwhile, Palladium is making new record highs for the move due to booming car sales.

And the gold bugs are scratching their heads watching GG, AU, etc. get destroyed today while the mo-mo gunners are chasing AIG.

What a casino.

Mon, 12/27/2010 - 13:29 | Link to Comment Internet Tough Guy
Internet Tough Guy's picture

Meanwhile, robotroll is scratching his head at oil over 91. You must be puking up a lung. Only $9 more and robo is history.

Mon, 12/27/2010 - 13:44 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Robo does walk a thin line.  Mainstream investors, mainstream conscious behavior, is about to get stood on its head.  The next moves for PMs and oil will not only shut them up, it will bankrupt them.  Oil at $100?  Get monie!

Mon, 12/27/2010 - 14:13 | Link to Comment Spalding_Smailes
Spalding_Smailes's picture

I love AIG. AIG and BankofAmerica will make my year in 2011.

Mon, 12/27/2010 - 17:45 | Link to Comment unununium
unununium's picture

+1 BAC is also going to make my year in 2011.  Wait, you are short, right?

Mon, 12/27/2010 - 17:09 | Link to Comment trav7777
trav7777's picture

Pd has been on a stampede.  I had a chance to grab some at $500 but I was too lazy lol.

Mon, 12/27/2010 - 17:47 | Link to Comment unununium
unununium's picture

Like you, I have palladium.  Unlike you, I am trying to decide how much to sell.

Mon, 12/27/2010 - 13:11 | Link to Comment TradingJoe
TradingJoe's picture

Oh that sneaky frenchman FrenchyT! :-())))


Mon, 12/27/2010 - 13:32 | Link to Comment plocequ1
plocequ1's picture

But, But, But... Ahh fuck it. Its all good.

Mon, 12/27/2010 - 13:37 | Link to Comment snowball777
snowball777's picture

Look at it this way, he's making sure that the failed auctions that will surely follow won't lead to complete bedlam as the PIIGlets will have something in the coffers for the short-term.

Mon, 12/27/2010 - 13:39 | Link to Comment RobotTrader
RobotTrader's picture

Oh, the horror of being positioned in the wrong sector....

Mon, 12/27/2010 - 13:48 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Spot gold/silver/platinum making your written work not to mention your paper charts look stupid, and for aig, didnt we bail them out for tens of billions?   huh robo?  huh?

Mon, 12/27/2010 - 13:52 | Link to Comment Internet Tough Guy
Internet Tough Guy's picture

How about an LA gas price chart? Oh the

Mon, 12/27/2010 - 13:44 | Link to Comment knukles
knukles's picture

(ring ring.... sound of French telefeene)

Secretary; Allo, Messeieur Treeshay's of-eece.
Mai eye-ah heelp you?

Timmah;  Yes, good morning, er, afternoon.  Er, whatever number's Mickey's are poinitng to at your place. (snigger, snigger, snort).  Is mon Capitaine John-Claude there?  Gotta talk to hiome about this bond market stuff and the Japs buying ETF's and Reit's.  Gotta see if he knows what they are...the ETF's and REIT's, not the Japs.  (Giggle, giggle, snort, snort)  Sure betcha he's glad he's Belgian.  (loud snark)  Gotta meet with Ben and wanna get the scoop.  (tidge of paranioa creeping into voice) Has he talked with Ben, by the way?  And...

(Interrupted by secretary)

Secretary; Eye-yam sorrrieee, Monsieur Peteite Timmah, but Monsieur Trichet ess in Gstaad on holieday.  He ess enjoieeing hees annual return to hees favorite pastime as concierge at zeee Gstaad Holiday Enn.  Would you like zee numbeair....



Mon, 12/27/2010 - 14:10 | Link to Comment gwar5
gwar5's picture

Spain is going to be a messy dump, maybe Trichet saw a turtle head

Mon, 12/27/2010 - 14:17 | Link to Comment Milestones
Milestones's picture

Maybe he's skiing To Hell U Ride today; powder snow is good and there is lots of sunshine.   Milestones

Mon, 12/27/2010 - 16:48 | Link to Comment SadSackHayek
SadSackHayek's picture

If the rest of the banking world tries to ski Telluride,

just send them down the toughest run there

called the "Plunge" and scrape up the remains.

Good riddance.

Wed, 05/04/2011 - 22:16 | Link to Comment tp123
tp123's picture

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