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Frontrunning: March 19
- The start of the great unwind? JGB yield curve steepens asbig buyers faith dented (Reuters)
- Markets spooked as Greek rescue plan crumbles (Telegraph)
- Nobel winning economist extraordinaire responds: Steve Roach goes batty (NYT)... it's going to be a slow news OpEx
- Latvia government collapses amid economic crisis (Telegraph)
- China tries to cool yuan dispute with US (Reuters)
- Stop losses see Sterling heavy in European Trade (Market News)
- Lehman's auditor goes blind from all the cooking (Bloomberg)
- Finally some scrutiny on "expert networks": Hedge fund matchmakers cannot escape scrutiny (Reuters)
- Dodd chief counsel bought financia stocks during 2008 crisis (BusinessWeek)
- Fed may boost discount rate before next meeting, economists say (Bloomberg)
- LIBOR keeps drifting wider, at 5 month high (Market News)
- CDO "Samaritan" Hildene duels Goliaths in collateral stripping (Bloomberg)
- The Lehman-Barclays lawsuit sure will be fun to watch (Bloomberg)
- SEC "Pay to Play" report tips unlikely figure (WSJ)
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re. latvia:
Sounds like a good argument for a dictatorship. It also shows, who really calls the shots. It ain't elected governments.
Loved this statement in "Markets Spooked as Greek Rescue Plan Crumbles"...
Mr Papandreou said his country did not want charity. "We are not asking for money from the Germans, Italians or French, what we are saying is that we need strong political support for reforms and to make sure that we do not have to pay more than necessary. We need to borrow at rates that are normal, similar to the rates other states in the EU and eurozone can use," he said.
Yes Mr. Papandreou... wouldn't we all love to borrow at rates that are normal despite gross mismanagement of our funds and excessive leverage... Greece is clearly delusional.. and Germany has got to be looking at Greece as the despised neighbor who maintained a lavish lifestyle while grossly exceeding it's budget for way to many years... but the the end-game is closing in... no easy options now for Greece.
I hope the Germans shrug.
I just can't see how equities continue to avoid the truth. Wall of Worry Theory?? Perhaps, US Equities are some kind of a quality flight supported by a subsequent weak USD? Not at this juncture. What the frek kind of strategy is that given what's happened and what's happening now?!
The perils of IMF involvement with EuroZone debt crisis drives home the element of truth about neighborly issues around the world. We're all connected and there's no escaping the effects of any regional fnc'l ills.
"The inability of the eurozone to put together a viable package after a month of talks has dismayed markets, which thought the terms of a deal had already been agreed."
This just goes to show what kind of morons are out their interpreting daily events in order to invest their client's monies. For 1.5 months now we have heard nothing but typical Euro-blather.
The "chase the performance" monkey is hanging heavy on the backs of money managers. They can't afford to miss anything else by now. So, they're extra sensitive to any signs of support for rising prices, even if fraught with faults, errors and of course lies.
It's so 1999-like.
Except that there's much broader participation in the chase for paper equity. And what I mean by "broader participation" is not volume, but the number of stock reaching new highs... for whatever reasons.
This will be, by far, the most overlooked headline this week. But it's the most relevant.
True, back during the crisis, it was the knife driving through the heart of the system.
if people who participate in the market are that stupid then perhaps the only regulation we need is to have an IQ test and a level set upon which one can trade
it appears that most market participants have an IQ of sub 20
if they thought the GREEK ISSUE was solved. Greece is but the tip of the iceberg
how about commercial real estate, how about the rest of the Piigs, How about California,the false accountancy in all banks, etc etc etc. how can people be this stupid
even HFT computers have more awareness than this
this could be the start look at the stocks sinking now
fingers crossed
Equities are ignoring the rallying dollar.
EURO has resumed it's downtrend.
Wait til the USD rally really gets going ...
http://tinyurl.com/yey34g4
Oh OK!
Weil hits E & Y with a flame thrower. Nice job.
These big accounting firms are unprincipled bagmen for their high fee clients; proven over and over again as they get sued and dissolved and merged over many decades going back to Penn Central/ Price Waterhouse in the 70s. The beancounters and rating agencies are the center links in the ongoing fraud that used to be known as honest free market capitalism.
What a mess.....accountability has gone Wild West.
VIX sends market reeling! Up 5%...but it is not having a great affect....Dollar hitting the cieling, gold/silver at its support...and all the market gets is a half percent discount. Money market outflows are huge, why no crash?
It is the inflation.........
To add, the Doelarr apriciates .66% today. Hmmm.....
Oh wait, it is different now, it rose .67%...even better...
SLV at 16.65...and by the way, the joke is on you!
Awesome article.......
Behavioral Economists: Warning, You’re So “Predictably Irrational” They Know Your Next “Stupid” Move Before You Do … Helping Wall Street Casinos Make Billions!:http://wallstreetwarzone.com/behavioral-scientists-economics-finance/
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