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Euribor Buys Carton Of Viagra To Cheer Fantastic European Liquidity Conditions

Tyler Durden's picture




 

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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Fri, 07/16/2010 - 11:10 | 473429 VK
VK's picture

Dirty old European bankers ;)

Fri, 07/16/2010 - 12:02 | 473560 Steak
Steak's picture

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

Fri, 07/16/2010 - 12:23 | 473634 scratch_and_sniff
scratch_and_sniff's picture

nice one, you should post one everyday.

 

Fri, 07/16/2010 - 12:27 | 473644 scratch_and_sniff
scratch_and_sniff's picture

you never said it was gay bar music ffs.

Fri, 07/16/2010 - 12:32 | 473661 Steak
Steak's picture

I'll get to work on a trashy redneck bar playlist :P

Fri, 07/16/2010 - 11:14 | 473441 MrTrader
MrTrader's picture

No news here. Expected.

Fri, 07/16/2010 - 11:16 | 473448 traderjoe
traderjoe's picture

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...

Fri, 07/16/2010 - 11:52 | 473531 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

Think of this way traderjoe, it is the best contrarian indicator out there. Cramer says buy, you sell. Cramer says sell, time to buy.

Fri, 07/16/2010 - 11:53 | 473535 London Dude Trader
London Dude Trader's picture

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.

Fri, 07/16/2010 - 11:19 | 473454 godfader
godfader's picture

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?

Fri, 07/16/2010 - 11:28 | 473468 Pamela Anderson
Pamela Anderson's picture

Be patience.... they are coming back after the stress test pass...

Fri, 07/16/2010 - 11:36 | 473488 VK
VK's picture

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.

Fri, 07/16/2010 - 11:50 | 473524 Cheeky Bastard
Cheeky Bastard's picture

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. 

Fri, 07/16/2010 - 11:35 | 473486 PicassoInActions
PicassoInActions's picture

Goldman revised their view on euro yesturday to 1.35

Should we start selling now?

Fri, 07/16/2010 - 11:43 | 473506 Takingbets
Takingbets's picture

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

Fri, 07/16/2010 - 21:33 | 474785 StychoKiller
StychoKiller's picture

Catering to the needs of "Survivalists" everywhere!  Is this for real?!

Fri, 07/16/2010 - 11:52 | 473518 iPood
iPood's picture

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!

 

Fri, 07/16/2010 - 12:19 | 473616 scratch_and_sniff
scratch_and_sniff's picture

...ahem.

Fri, 07/16/2010 - 12:06 | 473573 rolo
rolo's picture

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...

Fri, 07/16/2010 - 13:54 | 473926 Grand Supercycle
Grand Supercycle's picture

 

The DOW/SP00 leg down has started.

http://stockmarket618.wordpress.com

Fri, 07/16/2010 - 17:11 | 474464 johngaltfla
johngaltfla's picture

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.

Fri, 07/16/2010 - 17:29 | 474496 New_Meat
New_Meat's picture

John, are you in FL?

"...FinReg was passed which indicates massive breakups of our banksters, ..."

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

 

 

Sat, 07/17/2010 - 15:28 | 475442 Nictrades
Nictrades's picture

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 ...

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