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Euribor Buys Carton Of Viagra To Cheer Fantastic European Liquidity Conditions
All is good in Europe right? EURUSD about to hit 1.5 and all that... It appears 3 Month Euribor is so excited about a future so bright, it's gotta wear shades, that it bought a carton of viagra and went a parabolic. This of course, will be spun by the GE propaganda station as merely more good news for European interbank liquidity and monkey market funding: "see, Europe can operate with Euribor back to August 2009 levels."
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Dirty old European bankers ;)
ZHers! Some musiq for the trading day (playlist should already be on autoplay & shuffle):
http://www.youtube.com/watch?v=3B3WquQ_PFc&feature=PlayList&p=F226CF2BB4D20A19&playnext_from=PL&index=1&playnext=1&shuffle=155
nice one, you should post one everyday.
you never said it was gay bar music ffs.
I'll get to work on a trashy redneck bar playlist :P
http://www.youtube.com/watch?v=mDvvJDXnhb0
No news here. Expected.
CNBS in full hopium mode. It won't be mentioned. No bearish guests. No mention of any negative data, especially the even weaker internals (prices paid up, prices received down). No BDI drop anywhere to be seen. Kudlow says the fact the market stayed up yesterday means he's now bullish. Cramer's taken double dip off the table and says to buy, buy, buy!
Seriously, the skew has gotten even more apparent...
Think of this way traderjoe, it is the best contrarian indicator out there. Cramer says buy, you sell. Cramer says sell, time to buy.
I agree, it's unbelievable and getting worse and worse. BAC is down 8%, GE down 4% and those buffoons keep saying all is well and good on the earnings front, let alone a terrible UoM number, Japan crashing overnight on the back of yesterday's dismal US data (because at least Tokyo still reacts rationally and the robots haven't yet taken charge of the N225 futures market.....), etc. etc.
What happened to all the "EUR hitting 1.1x" and all those "Gold in Euro hitting new all time" articles? We used to get them by the hour, now all of the sudden we focus on other news?
Be patience.... they are coming back after the stress test pass...
Gee whizz pal, nothing ever goes down in a straight line. It's a liquidity crunch in Europe causing a short squeeze. The Euro is toast as a currency in the long run. And yeah, the Euro is going to fall below parity with the Dollar.
Liquidity crunch; not so sure; ECB is doing a good job. As for the EUR being "toast" and "fall below parity with the Dollar"; no, just ... no.
Goldman revised their view on euro yesturday to 1.35
Should we start selling now?
this post is for Leo. The dealers around my neck of the woods are having to give away guns in order to sell their solar equipment. Not lookin good.
Buy Solar, Get Gun Free
http://www.turnto23.com/east_county/24263539/detail.html
Catering to the needs of "Survivalists" everywhere! Is this for real?!
Advice Please ?
Having a hard time juxtaposing this piece re Euribor strength with the news broke here yesterday (at 15:22 GMT) that "every single overnight funding indicator is now at the worst levels of 2010, including Libor, Interbank Deposit Rates, Repos and Commercial Paper." Thanks!
...ahem.
Somewhat frivolously, but I got a bit of a laugh out of the "monkey market" typo up there. I'm assuming it was a typo, of course...
The DOW/SP00 leg down has started.
http://stockmarket618.wordpress.com
Blowdup. Only word for where we are now. QE 2 didn't come in, FinReg was passed which indicates massive breakups of our banksters, and wow, look at how the consumer has declared "we can't get credit so we ain't spending."
Whoops. Euribor is heading back to 2008-2009 levels now.
John, are you in FL?
Please expand on this, I'm reading it as a consolidation move because of the huge reporting O/H and gov't reporting that (sadly) my ex-CongressCritter sponsored and my newly minted Senator voted for.
Looks like a little-bank killer to me, I'm off to finish dumping Bank of Amigos this weekend, will be asking the locals their view.
Your info will help, Thanks.
- Ned
Let's connect some dots.
EU bank stress tests are due next Friday.
You would think that those banks that are going to fail know that they are going to fail by now right?
Banks which fail will find it very hard to raise money in this market once they are publicly outed, so they grab all the money they can, pushing rates up.
If 3m euribor drops again after next Friday's stress test announcement we will know ...