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Monday, Bloody Monday... For European Bonds
Absolute bloodbath in Europe:
- Italian 10-Year Bonds Extend Drop; Yield Climbs to 6 Percent
- Spain 10-Year Bond Yield Surges to Euro-Era Record 6.31 Percent
And more from Bloomberg...
- Yield on 10-yr Treasuries slumped 2bps to 2.88% on haven bid as European peripheral spreads hit euro-era record high after digesting bank stress test results over the weekend.
- Mkt skeptical over outcome of Thursday’s special summit of top EU officials as Merkel indicates unlikely to attend unless deal is on, BNP note says
- 2/10 spread shrunk 3bps to 252bps, narrowest since December
- "We expect to see a floor in the 2/10 slope in the 250bps zone, with the possibility of a return to 265-270bps,” note from BBVA says
- Fed futures pricing 15% chance of Fed rate at 0.5% by April 2012 vs 14% a week ago, 22% a month ago
- 10-yr Treasury futures due September hit new high of 125.01 to imply 3.07% vs 3.09% on Friday
- Stay short 2-yr duration and remain weighted in 2/5s flatteners, Terry Bolton, strategist at JPM, writes in note
- Recommend FRA/OIS wideners outright as well as 2-yr swap spread narrowers, he adds
»
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Italy at 6%... This is it... game over for Italy.
check charts for german french banks...it's spain on the default fear. those idoits that ran the BS stress tests have caused the panic.
this is bad.
Herr Helmut agrees with you: "Helmut Kohl blames Merkel for ruining his Europe project" (The Independent, 18 Jul, 2011).
Personally, I think it is good for the free world. If the "European Experiment" self-implodes before TPTB can complete their controlled demolition of the US, then they have no home base! ... Go Angela!! Kick Jean-Claude in the nutz!
Pass the popcorn, bitchez ... this is getting exciting!
exciting indeed... popcorn good and if you're in Europe maybe a popgun wouldn't go amiss too
when Greece crashes with it goes the Romanian banking system as well.. we're not only going to see the gypsies of Europe kick-off onto their own streets but a flood of them penniless robbing their way across Europe
the parasites (monopolists) destroy whatever they seek to control ...the Banksters/EC/ECB's vandalism of society and the economy is just becoming very apparent to all
Burn Mutherfuking Brussels Burn
"the gypsies of Europe" you say.. really?
Do you even know the ethnic structure of the Romanian people?
Top 10 banks operating in the country are :
1) BCR (Austria)
2) BRD-SoC (France)
3)Volksbank (Austria)
4) Alpha Bank (Greece)
5) UniCredit (Italy)
6) Raiffeisen (Austria)
7) Banca Transilvania (Romania)
8) Bancpost (Greece)
9) CEC Bank (Romania)
10) ING (Netherlands)
Source: moneystockstycoons.com/bank-lists/romania-banks/
So if Greece defaults, it wouldn't affect the country hard. Actually if Austria and France default, then the banking sector would be seriously affected.
A simple Google search could get you all this information. But like all the "bitchezz.." drones out here at Zero Hedge, you're just an uninformed fuck-up of a person.
Now all kids post at Zero Hedge. Lame.
Name one adult who posts at ZH, name one!
yeah well...y'know what is else bad? EZ CDS's blow out to ridicules levels you can bet that UST's will become officially toxic.
no wonder gold is super bid
This is very bad news indeed...
Charlie Bravo
7% no?
yep...
WHO'S NEXT!?!
Next is eurobond. I give it 1-2 months.
france?
Austria and Belgium.
If that's "game over" then 7% will bring out the cries for a new Il Duce....
How apropos - as the European slow motion train wreck continues I decided to write a sort of "investing for dumbies in the current environment" type article. I would be interested in some feedback from you ZH guys...
http://www.singledudetravel.com/2011/07/gold-and-other-investments-for-t...
Great blog, Boris Traveldude! Only I went right to the most popular item entitled "American Women are Sluts" where you explain that American women are the worst in the world and counsel men to go abroad (pun intended) to run into better quality women. What you didn't say, but amounts to the same thing, is that AW are ball-busters. They dominate through guilt-tripping and threats. Foreign women are more beautiful, feminine, fun, and don't have voices like chain saws and they give as well as take. Don't wreck your life, or if it is wrecked already, this should give you hope that you can find the happiness you have dreamed of. Check out this blog!
"Good Evening Premier Hu. We have a problem..." .. Jeal Claude Trichet
"Houston, the ideological Euro Project-ile has just crash-landed into reality on Planet Uranus!"
Socialism Strikes (Fails) Again!!!
they now talk about taxing the banks
wich means they're despeared
They're what?
despaered is a mixture of despaired and disappeared, not yet in dictionaries, but soon!
CNBC's Squak Box is running with the NewsCorp scandal while Rome (literally) burns. The propoganda machine is finely tuned.
Interesting that the Soros media empire has remained unscathed during all of this. No, not really interesting at all...
The only thing the eurosystem can do now is flood the system with raw currency.
"The only thing the eurosystem can do now is flood the system with raw currency."
I'm up for it! Tell them to send me all they possibly can. I promise to buy Eurocentric products, maybe some classic Italian wines and several finely crafted Philharmoncs.
All of our base belongs to you.
Italy vs US: playing a different game
Imperial tax is a bitch.
Plenty of profit left there, the Fed could even 'slash' the Fed Funds rate to zero rather than 0-0.25%.
Gold, silver, Swiss Franc close out sale -hurry folks
If Italians could go Mussollini on Berlusconi, that would make my day.
I think that the change is Spain's situation is put well here.
"The change in Spain is leaving mainly on the 'plane" ... to Zurich, or Argentina. LOL.
Love your sense of humor!
Italian 10-year needs to break 7% before anybody gets worried. This is just vigilantism.
I wonder at which level, they'll start to put a tax on gold sales in Europe.
It's still at 0% because it's a international TRADING CURRENCY for decades now, but if it's not money it means it's a commodity so... so... this must be confusing for Bernanke.
Silver goes with a 20% sales tax. If they would raise a 20% on gold, they would be able to plug some holes for a few more months.
why u not come over and buy your silver in germany my friend? only 7% tax on coins
I know :)
I've never bought anything in my own country. All in the US and indeed also in Germany, you also charge the lowest premiums.
SD - any experience buying in Czech Republic? i hear they're doing a splendid amount of trade, particularly with panciking Greeks, as there's no records required on PM sales there.. do you know if there's tax on PM's in Cz ??
There is no tax for gold purchases, 20% for silver. And rumours about high amount of trade are surely mistaken. Everyone here is in happy deep slumber.
"particularly with panciking Greeks"
Pancaking Greeks? Maple syrup and sausage too?
Sorry - it's breakfast time here in the U.S.
You are a very dangerous man.
It's 28% but whatev.
A raid is planned on gold/silver for today before noon.
is this assumed or definite?
From his other comments, I'd say it is "hoped for".
Here comes the first raid on the early part of the COMEX session. Very volatile and messy.
I noticed this movement too...I know nothing about a raid, of course...just thought move was strange...stops are set
So far, the "raid" has driven the spot up by $6!
Silver is taxed because it is used in manufacturing things like TV and so on while Gold isn't as far as I believe. Gold is simply a currency.
Gold is used in high end electronics, like expensive amplifiers & so on.
and cell phones... everything that has sensitve connectors.
Good, let the euro banksters have their precious juden-fetzen blow up in their faces. The dollar monkeys think this is going to save their Illuminati toilet paper. Ha! It's the whole world that wants the dollar gone and with a hollowed out economy and perpetual QE it's just a matter of time until golden nukes are deployed.
I can imagine how appreciative the euro trash will be towards the dollar banksters.
Stop talking out your ass you stupid cunt.
Sadly The European BLOODY MONDAY started as soon as the Indian markets closed....guess I will have to wait till tomorrow for a good down MOVE to the nifty
Did PIMCO get it finally wrong, at least once in our lifetimes, when buying Italian bonds last week?
The 2y Itallian Bonds up 10.23% now... or 4.654
Spain is up 7.4% or at 4.537
Gentleman... fasten your seatbelt... it`s getting a bumpy ride...
Yep. Itallian bonds look like shit
http://www.bloomberg.com/apps/quote?ticker=GBTPGR10:IND
http://www.bloomberg.com/apps/quote?ticker=GBTPGR2:IND
Don't worry. When Chinese will start selling US bonds they will buy Italian Bunga Bunga Bonds as we are more solid than US
Everybody is more solid than the US except maybe Greece...
Italy is actually NOT on the verge of default. It has the third largest gold reserves on this planet.
It's that idiots, sitting in some office NY or London, hit F5 all day on "financial marketing propaganda" websites, reading about the "end of the Euro and EU", and their pimples are bursting of all the excitement, and then run and fast-type here "...INSERT_PREFERRED_METAL_HERE or INSERT_HATED(read inferiority complex)_EUROPEAN_COUNTRY_HERE ... etc etc blah blah bitches..".
Zero Hedge in its first days was a nice place of "feeds" and comments. Now the wildlife here, is mostly composed of underaged fat computer-games-playing idiots, that think that just because they have some beans canned and their papa's gun, are somehow safe.
but, but, but . . . Joe Kernan kept saying everything in Europe was "no big deal" and we should all chill out and watch the Dow go to 20,000
and buy his daughter's book...all that free advertising should get taxed as a benefit
dax just broke the psycho 7100 support
Expecting the European Commission of Absolute Truth expressing their CONfidence in euroarea and denying there's any problems.
Il suicidio di Mario Cal, ex vicepresidente del San Raffaele e braccio destro di don Verzè, avviene a conclusione di una riorganizzazione societaria che si è resa necessaria a causa di un indebitamento di quasi un miliardo di euro nella gestione dell'ospedale e che ha visto entrare in campo il Vaticano.
suicide the ex vice chiarman of the Clinica San Raffaele in Milano, after a hole of almost a 1 bil e. of the hospital of the Vaticano
http://www.tmnews.it/web/sezioni/copertina/PN_20110718_00119.shtml
http://affaritaliani.libero.it/milano/suicido_mario_cal_raul_gardini180711.html
somebody find some analogy with the suicide of Raul Gardini.
every crisis carry a Vatican Connection
Fra