You're now on the archive server. Commenting has been disabled.
EUR Plunges After Lagarde Intimates On Greek Bankruptcy
It appears that the market refuses to be baffled with bullshit any longer. The EURUSD just took a big tumble following a report that Christine Lagarde, the IMF's new boss, announced that her new agency has not yet discussed Greek aid details, and made it clear that "nothing should be taken for granted on Greece." Since the only thing that is being taken for granted is that Greece will be bailed out, it is easy to see why the EURUSD just lopped off 60 pips in seconds. Not very surprisingly, this fits with what the Chairman of Commerzbank Martin Blessing told the Frankfurter Allgemeine Zeitung earlier. It appears that the dining room table is being set for what the EUR's chef believe will be a brief feast on the Greek carcass, following the country's plunge into SD, or temporary default status. What will happen next, however, is the same thing that happened when Lehman filed: sheer panic, as a global bank runs ensues, and the USD, not to mention gold, all go parabolic. The only possible brief saving grace is once again China, which just reported that its FX reserves rose from $3,197 billion to $3.233 billion. The bulk of that money is now going to purchase EURs and keep Europe afloat one more day.
Here's why it will be a sleepless night for FX (and thus ES) traders around the world:
The International Monetary Fund isn’t yet discussing details of a second joint bailout package for Greece with the European Union, said Christine Lagarde, the fund’s new managing director.
“As regards a possible new program, in my view we’re not at the stage of discussing the conditions and terms and length and volume, and nothing should be taken for granted,” Lagarde, who took up the job on July 5, told reporters in Washington today.
First Deputy Managing Director John Lipsky has been closely involved in the current Greek program and is representing the IMF at the finance ministers’ talks after “ample meetings all together to properly define the position of the fund,” Lagarde said.
She spoke before European finance ministers today said they were considering using bond buybacks to ease Greece’s plight as surging bond yields in Italy and Spain brought the crisis closer to the heart of the euro area. The announcement came after talks with bondholders over a “voluntary” rollover of Greek debt ran into opposition from the European Central Bank.
What about Italy? Fear not - there is a firewall.
Italy’s effort to build a firewall against the spreading crisis formed the backdrop to today’s meeting in Brussels. The nation, struggling with Europe’s second-highest debt load after Greece, curbed short selling as its 10-year bond spread over Germany surged to 305 basis points, a euro-era high.
Lagarde said Italy is “facing issues at the moment which are essentially market-driven.” She said growth in the euro region’s third-largest economy needs to improve in parallel to efforts to reduce the budget deficit.
“It is clearly a fact that Italian growth has to improve; that is essential to restore the situation in Italy, in addition to the fiscal consolidation measures that have already been decided,” Lagarde said.
There was also the usual scapegoating of rating agencies but readers can read that at their leisure.
Unless the PBOC manages to stabilize the bloodbath in the EURUSD, tomorrow will be ugly.
»
- 16232 reads
- Printer-friendly version
- Send to friend
Similar Articles You Might Enjoy:
- Greece [Will/Will Not] Issue 6%+ Debt This Week, Even As Evans-Pritchard Summarizes It Best: "Greece Is Drowning"
- With Dubai Temporarily Contained, All Eyes Shift To Greece
- Daily US Opening News And Market Re-Cap: June 27
- Germany Coalition Member: "No EU Aid For Greece, Must Help Itself"
- Rosenberg: "Greece Is The Same Coalmine Canary As Thailand Was To LTCM And As New Century Was To Lehman"
3:00
http://www.youtube.com/watch?v=xMLVMEQmhTQ&playnext=1&list=PLDC8F531C0915556B
Cmon, this was the plan all along. The US created a global financial depression that would capitulate other nations first, making the dollar a safe haven long enough to soak up the world's spoils. The biggest animal can lose the most blood before falling over.
They played a 60 year card game with IOU's, but no one ever had that much money. So nobody will ever pay up. Viva Iceland free of the skum!
Now: more kindling, more fuel.. I think this bitch is finally starting to burn!
I think this bitch is finally starting to burn!
nah, that's your ass, but 60 years sounds about right. to the victor go the rights to ponzi. And we ponzied hard. The slick move was Bretton Woods... "our money is now tied to... nothing. sorry. see our military with any questions."
No, my ass has been on fire for years... this smells like the fuckin roof is on fire, but I just don't want/need any water.
http://www.youtube.com/watch?v=Th_zlxmddNY
the jews. the jews. the jews are on fire. the jews. the jews.? the jews are on fire. we don't need no jews, let the motherfuckers burn. burn motherfuckers, burn.
Junk me after you laugh...
So a Jew set your faggy ass on fire...? and now you have to polute this web site with hate posts... we discuss the markets here go play hitler somewhere else
Oh, who do you think collected the interest on all the fake money?
Made it too simple and that is what infuriates you guys. Take it easy, I'm just doin a reality check.
There just doing Gods work. Who are you to question God?
It's those non-neanderthal pure breds that are junking you.
Did you know about that study?? I'm glad you brought it up. I doubt many others do either. Here is the link:
http://www.youtube.com/watch?v=yAzWNkCMt8w
enjoy my good friends!
+100000000000000000
Powerful link!, Thanks AF! Why is this all being kept from everyone yet in plain sight?? I knew Darwin was right! They started lying about this stuff 60 years ago; but there it is.
Even if you are branded a racist, you our our racist and bring a perspective that makes ZH unique!
Andrew Maguire, bitchez! (said with a British accent)
http://kingworldnews.com/kingworldnews/Broadcast/Entries/2011/7/11_Andre...
It's not that I doubt the science, I actually spent $50 today purchasing papers relating to the studies mentioned in your videos. I just doubt your interpretation of them.
Here's a couple of free ones you can start with.
http://www.hypothesisjournal.com/index.php/main/article/view/215/pdf_1
http://rstb.royalsocietypublishing.org/content/357/1420/563.full.pdf+html
Then again you have the same African progenitor mother all the rest of us has. It seems that Neanderthal's had a totally different kind of mtDNAA. Only Neanderthal males and Human females were able to reproduce and produce fertile offspring. Most likely the Neaderthal pimps just put our great-great-great...great-grandmas to work on the corner.
http://www.zerohedge.com/article/cost-obamas-latest-tv-appearance-1125-m...
"In spite of the new evidence that shows "modern" humans are all linked (except Africans) to Neanderthals we continue to spend fist over dollar trying to evolve this race when it is not even possible."
http://www.zerohedge.com/article/cost-obamas-latest-tv-appearance-1125-m...
"Yes, the only contribution; basically a pre modern human pitri dish.
I'm talking about the concepts of farming, using tools, buring the dead etc. None of that evolved from these. Everyone agrees that something remarkagle happened to the developement of modern 40,000 years ago. Now we are not allowed to understand it or talk about it because of 150,000 year old petri dishes? Nonsense."
http://www.zerohedge.com/article/cost-obamas-latest-tv-appearance-1125-m...
"With the science I think it is time to expect less and treat differently this race that we spent 60 years (and trillions of $$) trying to evolve."
Interesting study, but let me tell you why it doesn't mean what it seems. I recently watched a Nova episode on PBS where they discussed switch genes. These are genes that function as on/off switches like binary to determine whether the subsequent gene sequence is processed or skipped/ignored. This is why we can have so much in common with apes, yet be so different, because it only takes 1 gene to be different to bypass an entire segment of development. The study also went on to show that a species can be modified merely by its environmental factors such as temperature. They were able to get one species of a mouse to change its color simply by having it develop in a different location with a different environment, and were able to isolate the gene responsible for choosing the color by doing a comparison. Evolution is not forward or backward, but lateral. Whatever the genes are determines what will be, and since DNA is not infinite there must be a finite number of predetermined possibilities available, and changing the gene sequences just changes the outcome. All this actually bolsters the case for intelligent design, as gene sequencing is just a complex form of organic computing, and there must be some method of interpreting the DNA sequence that causes life to consistently form in the same manner when the same sequences are provided. The fact that much of the world shares 4% DNA with neanderthals doesn't imply anything beyond what it explicitly states.
Well this is what the father of DNA sequencing said before the msm freaked out..
http://www.washingtonpost.com/wp-dyn/content/article/2007/10/23/AR200710...
Something made humans have a giant leap about 40000 years ago that is not disputed.
Other Nobel Prize winners like Shockey said much the same. Just seems as though a massive campaign has been running for a long time to build up the self images without any accomplishments.
Yes the man wants to select out ugly people. He seems like a trustworthy source for interpreting data.
Someone I work with visits your site frequently and recommended it to me to read also. The writing style is superior and the content is relevant. Thanks for the insight you provide the readers!
--------------------------------------------------------
We pride ourselves in selecting trendy affordable, excellent quality hair ties|hair combs|bridal hair combs|hair bands|hair accessories, Click here to discover amazing tips and ideas for you and your love one, we sure you will love them!
Do you manufacture your
in u S of A? I will work 14 hours with no bathroom breaks.
Also, welcome. Don't advertise, please. Blogs that contribute to the conversation are a different sort of signature, my friend.
I'll see your 14 hours with no bathroom breaks and I'll raise you the hour I usually use to get my hair cut each month... in exchange for a hairband.
Here's a tip: Italian CDS are WAY cheap.
buy insurance on an italian bank in case it collapses. how can than bet be cheap?
http://www.zerohedge.com/article/charting-european-spread-massacre
relatively inexpensive ...
on Mon, 07/11/2011 - 22:23
#1446379
3:00
http://www.youtube.com/watch?v=xMLVMEQmhTQ&playnext=1&list=PLDC8F531C0915556B
************************************************************
Thank You! for the Link!! and it is MUST SEE TV (youtube) for anyone who is interested in recent history and fiat (paper) money collapse!
Thanks for the link, CB
Interesting to observe, casually, that what appears to bind the protesters is a sense of unity of purpose (also see Greeks, Egyptians, etc) not found in the USA. Maybe it's because those societies haven't been poisoned by "diversity" and class warfare propaganda. Just a hunch.
Checkmate bitches!
LOL
Think G-Pap's "Dear Fuckyou" letter set her off?
Or maybe Spain Greecing the Yids has her concerned?
It's just a flesh wound.
A firewall is useless in this Firestorm.
They will need to dynamite entire Nations until the cancer is cut out of the EU.
That's how they dealt with the San Francisco fire in 1906. Whole neighborhoods were flattened with dynamite to stop the fire. I just wonder who get's to choose where the dynamite goes.
don't worry, the guys, who did the WTC, are on it
Actually Sanfran was rebuilt on rubble, graves of the dead. The next quake will liquidfy downtown and drown it all.
There will be no Southern Pacific Railroad to haul the hundreds of thousands, if not millions of homeless.
If memory serves, BOA set up a stool and a table in the burned out street and started lending money to people desperate for the lumber.
The next quake will liquidfy downtown and drown it all.
Bullshit.
Pretty much a Maginot Line, might as well just give Germany the keys and save us the drama.
fusion power
If graphite is used, the gross erosion rates due to physical and chemical sputtering would be many meters per year, so one must rely on redeposition of the sputtered material. The location of the redeposition will not exactly coincide with the location of the sputtering, so one is still left with erosion rates that may be prohibitive. An even larger problem is the tritium co-deposited with the redeposited graphite. The tritium inventory in graphite layers and dust in a reactor could quickly build up to many kilograms, representing a waste of resources and a serious radiological hazard in case of an accident. The consensus of the fusion community seems to be that graphite, although a very attractive material for fusion experiments, cannot be the primary PFC material in a commercial reactor.
The sputtering rate of tungsten can be orders of magnitude smaller than that of carbon, and tritium is not so easily incorporated into redeposited tungsten, making this a more attractive choice. On the other hand, tungsten impurities in a plasma are much more damaging than carbon impurities, and self-sputtering of tungsten can be high, so it will be necessary to ensure that the plasma in contact with the tungsten is not too hot (a few tens of eV rather than hundreds of eV). Tungsten also has disadvantages in terms of eddy currents and melting in off-normal events, as well as some radiological issues.
Looks like even with some impurity issues, tungsten is far more viable than graphite, for now.
Of course, maybe the Chinese can discover a new rare earth mineral - let's call it bullshitanium for discussion purposes (since the Chinese are very good at finding unique, nearly magical materials on their soils, exclusively) - and this can be bonded with tungsten or another/other material(s), to improve the plasma container for either a 'pinch' or 'magnetic' containment system further.
In other words, yeah...the Eurozone is foooked badly.
Meltdown bitchez!
Does that mean the USA needs to be blown up to cut the cancer out of this world?
Sweet! A synthetic, non China based way to sell China...the worst capital allocators on the face of the Earth.
Sell the Euro and kill two birds with one stone!
Don't forget Treasuries! They have already, BTW, jumped very nicely tonight.
“facing issues at the moment which are essentially market-driven.”
yep, blame those "market conditions" again. has nothing to do with management of the economy
+ spot on
long Chinese baklava ..
What happens to the market if, after all the hype, the Chinese get cold feet and let the Euro collapse?
On the other hand, a falling market lets them pick up a lot of leverage on the Euro market cheaply. How much Euro float is there actually? Would they want to be tied to the Euro now, as it fails? They don't even want the responsibiity for their own Yuan!
China loses half its nestegg speculating on the Euro??? I think not.
China will turn on it's money pumps but their bonds should sink. The next step in th endgame trade. China imploding, if it isn't already...
If China floats EU tomorrow, who's going to pick up the slack for the $66B in Treasuries to be auctioned?
Tub is draining...
Crash'em stawks and them fund managers will come running.
And I am surprised by all this. I think not. We have been discussing this here for a couple of years now. Just starting to all come together.
Don't underestimate the human capacity to kick the can down the road.
This can has been kicked so much that the tip of the boot could hardly find a point to kick it further.
Tipping point [not] in sight? Ha.
but your leg's off?
If things get bad enough, we'll just get Dhalsim to start kicking the can for us.
Don't worry, there is going to be a chorus line of dancing girls kicking this can all the way into the sky. Once it breaches orbit, that can will just keep floating to the ends of the universe.
And the room will be packed with attentive people undressing the last of the outfits still left on the dancing girls, the can will be a minor annoyance as the plotting begins on who gets which girl.
From the western "Unforgiven"
"Well, I guess he had it coming."
"We all have it coming, kid."
"I don't deserve to die like this!"
"Deservings got nothin' to do with it"
"I don't deserve to die like this!"
"Deservings got nothin' to do with it"
"I don't deserve to die like this!"
"Deservings got nothin' to do with it"
"eveything comes to an end"
http://www.youtube.com/watch?v=OlBifX0H3yg&feature=related
"With a very unpleasing, sneezing, wheezing,
The calliope crashed to the ground..."
Some brimstone baritone
anti-cyclone...
rolling stone...
preacher from the east"
"says dethrone the dictaphone
hit it in its funny bone...
cause that's where they expect it least"
---
"...and some new mown
chaperone
was standing in the corner...
watching the young girls dance
...and some fresh sown
moonstone
was messin with his frozen zone...
reminding him of romance"
---
"Scott with a slingshot
Finally found a tender spot
& throws his lover in the sand...
& some blooshot
forget-me-not
says daddy's within earshot
save the buckshot
TURN UP THE BANd"
---
"Mama always taught me not to look into the eyes of the sun...
(but MAMA, that's where the 'fun' is)...
She got down, but she never got tight, she's gonna make it
Thru the night...
Long term US prosperity
http://bit.ly/ofCUic
At first blush I read that as fireball
There is nothing they can do now.
Just waiting for the infamous stick save. It's worked very well so far. <sarc>
10yr 2.89
Watch the yields on Uncle Gorilla notes plunge to unheard of lows, while commodities of every stripe get poleaxed as screaming scared investors pile into U.S. Dollars.
damn, where were you today? and what retail stock or reit benefits from this ? that you are already long, but only after the close?
I am quietly watching my Beloved Silver take water.
It is my thinking that the screaming scared investors are packing themselves into the freight elevator made of paper dollars many stories up.
Those damn things are good until the last drop.
whew -
I'm so glad you didn't say they were gonna 'pile' their fat FLOTUS looking @sses into LULU outfits...
I might not have been able to sleep this evening...
about time they finally agree with ZH :)
Guess what is on the brink of breaking out to new highs?
Japanese Yen.
The Fed better start printing faster and faster, otherwise the Yen is going to outrun the U.S. Dollar as the "go to" safe haven of choice.
and then the unthinkable (really?) will happen and "come back to" safe haven will again be "the choice".
It is a set up.
Japanese yen strength, another failed government intervention, and it is scary that Japan is a safe haven.
I dont understand yuour statement.
Why would the Fed printing FRNs *faster* strengthen it against the Yen?
I would seem that reducing the FRNs available would strengthen its value against all other currencies, not weaken it.
Is there something I am missing in your statement?
Look, my bonds are selling off essentially for market-driven issues. Haha
"Huh? I am not a bum. I'm a jerk. I once had wealth, power, and the love of a beautiful woman. Now I only have two things: my friends and, uh, my thermos. "
- Navin R. Johnson, The Jerk
Poor old dumb greedy Lagarde. Should have known better than to take this poisoned chalice of a job. She'll be remembered as the IMF Pres who destroyed the Eurozone.
The dominoes are starting to fall. Lagarde, a slave of the bond market, couldn't care less if Italians, Greeks, Spaniards kill each other and destroy themselves and their countries. As long as the bankers are protected, it's all fine by her. On her zeal to protect the banksters, she forgets that these countries will bring us all down.
I hate that bitch and hope she fails miserably. Which I know she will.
Yes, Now that Romer is gone this is also my most hated bitch. Some of her remarks seem straight out of Atlas Shrugged- total arrogance. Few have been as unqualified as the wise latino justice and the healthcare nazi queen; this marxist bitch is straight from the mold of incompetence.
She advise us to raise our debt limit....FUCK HER!
AssFire
Ayn Rand wrote, "When you see that in order to produce, you need to obtain permission from men who produce nothing; when you see that money is flowing to those who deal not in goods, but in favors... and your laws no longer protect you against them, but protect them against you… you may know that your society is doomed.
That's straight off General Jim Sinclairs webiste a day ago and pretty well sums up the conclusions i've come to over the past few years on Govt/politicians, banksters and other corporate parasites in society. I've not read much on Ayn Rand except her view on money linked by a ZH poster recently so i'm not knowledgeable enough to take a view on her... are you saying Rand is an arrogant bitch as well as Lagard (no debate there)?
Ayn Rand was an immigrant who fled socialism. She had insight to the whole situation we find ourselves in. I strongly encourage you to read it. AF is saying the Lagarde bitch is just like the central planners (with no experience) in Atlas Shrugged. It is an incredible novel as is the forgotton man.
still waiting to find out who took our her predecessor, probably knowing she'd get tapped....... not that I'm a conspiratory type, but.....
Madam Le Penn was jumping for joy while Sarkozys Party was much more muted in its celebration... so that puts Sarkozy top of the suspects list with electoral motivation
...and the stitch-up job was in NY that pit of the NY Banking Mafia who no doubt has an interest in the IMF and who they do or don't bail out in the final countdown to Merry Hell
Hmmm...still waiting for confirmation of that ES triple top/right shoulder whatchamacallit...look out below! (maybe)
S&P futures down 10.
Spider's spin webs to deceive, prey become entangled when believed. Prisoners become completely entombed, chasing sweet little morsels to their doom. Their lifeblood drained they become dust, When spider's reveal their boom was a bust.
Anybody notice that California muni-bonds are once again trading near 3-year highs again??
What happened to Meredith Whitney?
Mud wrestling Blythe Masters for the Mental Health Foundation's Annual Charity Tax Evasion, Political Influence and Self-Aggrandisement Ball, Frog Drawing, Silent Testimony, Obama Sock Puppet Raffle, Favorable Air Time and Get Out of Jail Free Card Auction.
(TG is masquerading as the Frog this year.)
Dude. Ken. Is that you?
she went 2 rounds with Layfield.
how soon til everyone wakes up and realises the rest of the world is in the same situation?
Looks like DXY at 76.31 pushing up against short term resistance...will the sitchiation in Europe trump the sitchiation in the U.S.? Only time will tell...
This is all telling us that
-Yes, they intend to bail Greece But...
-They're starting to feel the heat from the side effects of endless money printing and it's hurting the solvent nations in the pocket book. Inflation is an ugly genie that Europe (and US) always fear.
-The entire world is now reverberating from the effects of excessive liquidity. And every time more gets printed it's de-stabilizing the less fortunate countries. Unfortunately, those countries are al strategic.
Tyler, check out EUR/CHF. Holy crickies...
SNB intervention in 3...2...1...
Make her tell the truth, or OFF WITH HER HEAD !
I wonder if Ice Age's Scrat make a oopsie again in the Euro Nut Factory?
and the geniuses at JP Morgan Chase still calling the China boom to the resuce.
God helps us all
I think they're busy elsewhere at this time... (although, bidding partners with Chinese companies are ongoing).
http://muslimmedianetwork.com/mmn/?p=8492
And a more western, 'drum up interest' puff piece, and linked show of 'benefits' of being involved: note that the writer references T.S. Elliot's The Wasteland for some bonus illuminium points.
http://www.ft.com/cms/s/2/9c397504-45e3-11e0-acd8-00144feab49a.html
Marketwatch and other sites are getting ... tardy on purpose with the data.
Geesh - you just have to wonder: when will they just give up? I mean, for crying out loud, they are acting as if there really is an endless pot of free money to prop up the system. After a while, you have to just step back, laugh and watch it all fall apart.
Tim Geithner for Dog Catcher!
Don't be too hard on little Timmy - his world is falling to pieces. He's a man who was told that if you did X, then Y would result and now he's finding out that it doesn't work...hsi god, Keynes, has failed him, and he's at his wit's end, poor man.
This is something I ask myself in my less cynical moments...brilliant super criminals, or well meaning morons? The truth, as usual, probably lies somewhere in the middle.
So you were the guy that believed that "Turbo tax" bullshit.
I don't pay taxes...oops...er...uh...
Tyler,
There is wonderful commentary here. Do you think you could activate a thumbs up or a positive next to the "flag as junk". I think then you could filter for the highest rated comments. Bring a lot of value to the site, think about it. Get back to me..... =0)
I don't need no stinkin 'thumbs up' if I nail it...
OTOH... Go Ravens! (ravens bitchez!)...
now the wimpy BoJ knowing that everything is going down the toilet is about to cut GDP outlook. Misery loves company
for FX traders fat stops at 1.39 handle (EUR)
How soon before I have to go search for food in the woods?
Will sharpened pencils work for protection and to hunt small game?
Will my two silver coins pay off my mortgage?
I'll report back with findings.
Peter.. I have heard.. if you go out in the woods and bury $5 Bucks.. and oz. of silver will appear.. or maybe it is.. if you pay a Mexican $5 Bucks and he digs.. you can have an oz. of silver.. it all sounds like a pyramid scheme to me.. so I havent tried either or.. but let me know how the $5 bucks and the oz of silver thing works out for you! PLEASE! we all would like a leg up!
Aw shit. Is it still 10,000 atta boys to one aw shit?
The skids are Greeced.
+1
A very fine pun, RK.
And appropriate and timely.
Call me crazy, but I do think Italy, Spain and Portugal (not to mention....France! Sacre Bleu!!! The ONE that hasn't been spoken of as in trouble...yet) are going to make Greece look like the literal pimple on the elephant's ass, so yes...
...this is going to get very FUGLY.
Kick the can, some say?
Where to?
China?
OKAY!!!
DId I make it home in time to watch Europe implode?
Be careful where you step, you could lose a head.
please alter your scale
I hardly classify a 1 cent change as a plunge
over dramatic don't you think?
wake me up when it gets below 1.30 and then 1.20
Hopefully we will get some real market porn today
another flash crash would get me going
would be quite good. hedge funds running neg returns can't short in bid markets last 6mths, now can short.
Dollar as "safe haven"...ha ha ha ha ha ha ha! You Americans really still think that?!
This Guardian article reads like they threw in the towel on a Greek default:
http://www.guardian.co.uk/business/2011/jul/12/greece-set-to-default-mas...
Wow, this seems like the IT moment doesn't it?
and the IMF is McAfee
http://www.youtube.com/watch?v=IKqV7DB8Iwg
Black Eyed Peas - Let's Get it Started
Meanwhile Chinese are buying Bentleys. Globalism in action bitches. Young Greeks better beg Chinese businessmen/women for a job for your elders have squandered the wealth on unearned social entitlements and the elites have sold the future generations out.
http://www.guardian.co.uk/business/2011/jul/11/luxury-cars-china-economy
What happened at around 9:55 (GMT+1) with CAC40 (or its underlying stocks)? A hidden flash crash or circuit break?
Shortly after that, no more updates of charts and quotes (CAC40 stuck at 3717.7), but futures bent upwards in linear fashion. European PPT intervention? Or another programmed short-squeeze?
according to some spanish/portugese websites, a lot of euronext is down:
http://www.eleconomista.es/flash/noticias/3225234/07/11/Las-bolsas-de-Francia-Portugal-Belgica-y-Holanda-cerradas-por-problemas-tecnicos-.html
anyone with direct access confirm/deny? it's apparently affecting france, belgium, portugal and holland.
edited to add that while i don't trade, looking at netdania for the CAC40, it is indeed stuck at 3717.70 and is not moving.
i don't know! but i am up late, and this is quite an interesting night. red ink all over the place
Dow 12,505.80 -151.44 -1.20% S&P 500 1,319.49 -24.31 -1.81% Nasdaq 2,802.62 -57.19 -2.00% Ticker Volume Price Price Delta STOXX 50 2,634.18 -74.96 -2.77% FTSE 100 5,823.23 -105.93 -1.79% DAX 7,067.83 -162.42 -2.25% Ticker Volume Price Price Delta Nikkei 9,925.92 -143.61 -1.43% TOPIX 857.19 -12.97 -1.49% Hang Seng 21,663.20 -684.07 -3.06%and, the commodities trading now, oil, food, metals---generally in the red. still, it is only pricing. risk on; risk off; rinse; repeat; again; don't stop now; c'mon! risk off; risk on; risk off; that's it; keep movin; risk on; risk off...step up; risk off; ...
...like a big algo. update: and the 3 european indices are now higher
MADRID (MarketWatch) -- NYSE Euronext on Tuesday that the pricing of its four blue chip indexes in Amsterdam, France, Belgium and Portugal had been suspended at 9:56 a.m. Central European Time or 3:56 a.m. Eastern. Trading on NYSE Euronext cash markets and Liffe derivatives markets were not affected. NYSE Euronext said it did not yet know the root cause of the issue.
a bit odd that Euronext has had technical problems on heavy down days, lately
about two weeks ago, there were similar events, with trading halted for hours...
can't they handle the volume or is it a circuit break intervention?
at 9:53 CAC40-futures dropped 20 points to 3669.3 in the span of one minute, and shortly after that another "technical problem" caused it to halt pricing...
Meanwhile, futures are up over 80 points (>2% recovery) from that low, at around 3757 (11:30).
Keeping up appearances?
It really makes you think how bad things are when people actually want to buy dollars or consider them a safe haven with negative real interests rates, my dear lord are we in trouble. Im only 21 n Im scared to see what this world is like in 10 yrs please China keep buying gold and sink these fascist fuckers soon
Here's the latest positive (i.e. total and utter bullshit) news out of China and/or Europe and/or the War Room of the Global Central Bank (aka 'Kick the Can HQ'):
- 07-12 04:41: Market talk of China buying in Eurozone debt
So you see? It's all better now! There's "market talk" of China buying in Eurozone debt (again). China saved Europe! China is the new POMO of Europe! /sarc/But as they say in the late night infomercials, 'wait, there's more!':
LULZ!!!!!!!!
Europe is just the undercard, China will be the main event.
The only way they dont blow up is to export inflation in the form of trillions of printed yuan, how long before the ROW says FU?
We're really getting into some good shit territory now (I can't wait for tomorrow's headlines), but as of 6:11 am est, these will have to suffice:
Poland is going to be another bloodbath if the Swiss Frank keeps pushing up. All the sheople here have mortgage loans in the CHF like its cool... Of course the regulators in this fine post communist pile'o'shit of a country where out in gay bars, spending bankster bribe money, snorting cocaine out of eachothers asses, when the whole realestate market was being pumped up with Swiss paper loans. Oh and I remember all the wonderfull tv commercials that this braindead populace gobbled up and took out all them wonderfull loans.
I love the smell of Napalm in the morning.... :~0
"Bullshit bafflers please report to Aisle 4 , we have a spillage in Aisle 4"
sovereigns and ECB just sucked up some Italian waste. china? good for a week of less of bid markets...what with fraud caps mixed with local goverment debt binges china just doesn't do the trick anymore
sovereigns and ECB just sucked up some Italian waste. china? good for a week of less of bid markets...what with fraud caps mixed with local goverment debt binges china just doesn't do the trick anymore
sovereigns and ECB just sucked up some Italian waste. china? good for a week of less of bid markets...what with fraud caps mixed with local goverment debt binges china just doesn't do the trick anymore
sovereigns and ECB just sucked up some Italian waste. china? good for a week of less of bid markets...what with fraud caps mixed with local goverment debt binges china just doesn't do the trick anymore
sovereigns and ECB just sucked up some Italian waste. china? good for a week of less of bid markets...what with fraud caps mixed with local goverment debt binges china just doesn't do the trick anymore
sovereigns and ECB just sucked up some Italian waste. china? good for a week of less of bid markets...what with fraud caps mixed with local goverment debt binges china just doesn't do the trick anymore