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Greek May 19 Maturing Bonds Being Sold At 30% YTM
The Greek 10 Year bonds maturing in three weeks (May 19) are now being sold at 98.7 or a Yield to Maturity of ~30%. This is a return that one can not find anywhere in the distress-free corporate world as the Fed has guaranteed that no firm will ever file for bankruptcy. It is also indicative that the EMU is soon to become history and the EMU/EU experiment is coming to an end.
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Moody's Blues...
Greek investors--Question: Return on capital, or return OF capital?
I guess inwestors are getting alligator arms.
EURO WRECK 2010
http://williambanzai7.blogspot.com/2010/04/euro-wreck-2010.html
U.S. equity markets ramping...this is a non-factor.
Correct - it is a non-factor here. I don't get the obsession here with this Greek problem. Even if it were to spread to Portugal or Spain, it has minimal impact here. One could argue that it will actually strengthen our economy even more.
Perhaps because some of us expats, especially those of us on fixed income USD, who live in the EMU find it extremely relevant.
But no one is holding a gun to your head making you click on any posts that have "Greece" in the title
You can't be serious, you is trolling.
Hmmmmm. Let me see.... What about all those nifty $500 billion swap lines the Fed put in place with those countries when the shit hit the fan in 2007 and 2008? Is it the case that Deere doesn't sell a single combine over there? Are quarter pounders and chicken mcnuggets the only things those guys buy from us?
What about the fact that if our money does not carry much weight over there any longer then as a military and gepolitical matter we have decreasing influence on the politics there and they can build a lot more minarets to add to the ones they already have? Not too many mosques in Germany but there are plenty in Holland, Belgium and France.
Understand, I don't have much sympathy for all of those countries who sneer at America's life style and at America itself while lazily eating their cheese and sipping their wine. They can all go to hell in a hand basket - or better yet - go back to work. But it's more than a little naive to think we get off scott free or are in better shape.
It would only strengthen our currency. We become/retain/continue to be the safest haven as the Greek problem perhaps spreads to two other countries. Again, put it in perspective, these are very small portions of the EU GDP. It's only a big deal because you read here that it is.
Thank you for the reply but I still disagree yet hope you're right.
Market action today, and especially the last 2 hours of yesterday, says no. There were no late bids, no fund inflows. Maybe just a breather, maybe more, but its a long time since the DAX was down 2% and its happening now.
FXI collapsing, (technicians should look a that one).
Europe collapsing, increasingly looking like a governmental version of the panic of 1907.
Even Obama knows the US consumer is dead in the water. Who are your US companies going to export to when DXY hits 100? 120?
Fine, buy now if you like, but so are these guys
http://www.threadbombing.com/details.php?image_id=4415
@HW
You are about as useful as infected tonsils and as welcome as a cancerous tumor.
Have you learned nothing in the last two years. It's all a house of interconnected cards you bulltard buffoon. AIG was a ring-fence, right? Lehman a ring-fence, right? We don't know the exact exposures to US banks, but there are credible sources who have reported that US banks hold Greek debt. But there are so many banks that are on the hook to others banks, it doesn't really matter. So take your pollyanna bullshit somewhere else.
I remember a couple of people saying "it is a non-factor here. I don't get the obsession here with this Lehman problem. Even if it were to spread to Europe, it has minimal impact here." over here in the EU ... hope you´re right though
Fire up the algo machine and BUY BUY BUY!!!
Down goes GPap!
Nah, just giving him a standing eight count.
Portugal, Italy, Spain, France, Ireland, etc. next
States will start collasping as well, California, New York, Illinois, and New Jersey are first in line.
"There is no out, there is only in"
translate this
http://www.market-talk.net/index.php/id/8661
Yes its the only real solution. Just giving a second mortgage to Greece is foolish.
Its a Debt problem and someone is going to lose more than a shirt when they realize that Greece can't pay now with its current debt load so hows in going to pay for a second mortgage. Debt load needs to be addressed and when it is then a lot of countries and their banks take a big big haircut. Thanks for the article
IT WAS JUST A ICE CUBE! TITANIC CAN NOT AND WILL NOT SINK!!
We see the iceberg from 15 miles away
The captain orders the ship to stay the course
"Full speed ahead" shouts the accursed
The next thing we heard was, "Rich women and children first"
The ship is listing, the captain's placing blame on the iceberg
"That berg attacked us, I am declaring war on the Arctic"
Who could've ever have predicted the greatest ship could so easily sink
I doubt there's a benign God to save our souls
Cuz no one else is gonna save the USA-holes - NOFX
Portugal cut...buy, buy, buy...
Dow down 14, they will start bringing in shorting bans, and banning of any share sales at this rate.
They will pass emergency bill in the next 15 minutes because of such a huge fall in the market
so how come euro is not crashing
big time do not get this
The markets are in parallel universe it seems
Does anyone know what happening to gold in the last 15 minutes? Stocks are also headed down, is the moment of realization getting closer and closer?
next stop Gold in EUR 1000
Fab's testimony...
The kid read his script poorly.
macro
what realizing that gold is a risk asset and dollars are safer?
the best argument against a free market it seems is the avergae IQ of the avergae investor it seems
euro is still only at 1.33
WTF???????
Serious question: What broker supports retail trading in Greek bonds?
If you look carefully there will be some decent buys in Euroland (assuming you still want to be in the market.) Some international conglomerates will take a hit along with the Euro but much of their business/income is elsewhere. Worse case they will just be priced once again in Guilders, Francs and Deutchmarks, etc. It might be time to take advantage of the relative strength of the dollar. I am not buying yet but I am starting to look for some opportunities, not in Greece though.
Just uploaded a Dow weekly chart showing a bearish broadening top pattern.
And Euro is breaking down now.
MARKET UPDATES:
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