Frontrunning: March 2

Tyler Durden's picture
  • Greece in no rush to sell bonds, debt chief says (Bloomberg)
  • Greece puts bond sale on hold as it hopes bail out will let it borrow at sub-7% (Guardian)
  • Banks raise pay as U.K. efforts to cut bonuses fail (Bloomberg)
  • John Crudele: Hey Washington! Economy has us very worried (Post)
  • Hedge funds move to euro after Greek CDS trading is the now the "old trade" (Reuters)
  • Sovereign CDS trading to be probed by EU (Bloomberg) as shorting euro is now borderline illegal
  • Man who broke the Bank of England, George Soros, "at center of hedge funds plot to cash in on fall of euro" (Daily Mail)
  • Singapore, Abu Dhabi face $10 billion loss on UBS (Bloomberg)
  • Bond yields, earnings yields and inflation (Hussman)
  • Paul Farrell: 8 reasons why Wall Street loses another 20% this decade (MarketWatch)
  • Cut pay for government workers (Forbes)
  • Remembering the lessons of the last market bubble (WaPo)
  • And more CDS "experts" chime in: time to outlaw naked CDS (nothing about "naked" selling or "naked" put buying yet) (FT)

graphic of the day via Richard


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jm's picture

If the powers that be eliminate CDs basis trading, then nobody will buy crap sov credits.  Simple as that.

They are going to guarantee default.

Going Down's picture


Iran Fuel Swap Is Back On


The stage is now set for a meaningful multilateral dialogue on Iran's nuclear program that may result in a mutually acceptable deal that would represent a modified version of the initial "fuel swap" agreement unveiled last October.


hedgeless_horseman's picture

Greece in no rush to sell bonds, debt chief says




nedwardkelly's picture

"Banks raise pay as U.K. efforts to cut bonuses fail"

That's because legislators are trying to cure a symptom, instead of the disease. Create an environment where banks can make these ridiculous profits and their staff will receive ridiculous pay - it's not rocket science.

Change the rules so Goldman Sachs can't pillage at will and maybe their staff wont receive such crazy bonuses anymore.

alphaninja's picture

Greece=California.  Sacramento is rushing to sell bonds before the next "budget update."

Mr Lennon Hendrix's picture
Volcker Sees No Threat to Dollar as Reserve Currency.  Says, 'I do not mind being used as a puppet, if it furthers my Master's Plans for the New World Order.'

Mr Lennon Hendrix's picture

China still dumping doelarrs.

Lawrence Summers, director of the White House National Economic Council, said the paring back is not a concern, CNBC reported.

"The truth is that these numbers fluctuate and that there's a wide range of holders of Treasury debt. ... What's been very clear from the market responses over the last two years is that the United States is seen as a major source of quality and a place people run to when they're uncertain," he said.

uh......yeah.  and that is why no one wants you to be in charge, LAW Wrench!

Tom123456's picture

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