One Minute Macro Update: Downgrade Bonanza

Tyler Durden's picture

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DavidC's picture

Well, we've got end-of-month and end-of-quarter so I reckon they're going to do everything they can to keep the markets up, at least for today and tomorrow. Into April, who can tell?

Cynic? Moi?


oh_bama's picture


smlbizman's picture

i need silence...steve liesman and larry {mack and} myer for hire are on....shhhh...

cabernet's picture

We worry so much. The worse the news gets, the more the central banks around the world monetize. The more they monetize, the higher paper (read: stock) and commodity prices go. The higher stock prices go, the happier investors get not caring about how they give it back at the grocery store, gas station and to the tax authorities. Strange world we live in these days. Nuclear disaster in Japan, chaos in the middle east, approaching bankruptcy by western european governments, along with state, county and city governments in the US. Lets not forget to mention austerity for the common man who are rioting (London most recently). But never fear, higher share prices are on the way. Ah, the power of the printing press. www.TheAngryGrapes.Com

sbenard's picture

We're too d-d-d-drunk on m-m-m-monetary h-h-h-h-heroin to c-c-c-care!


News, information, and analysis of any type are now irrelevant! We have printed prosperity now!

writingsonthewall's picture

We must be getting close - tell me we're getting close. This is a classic sign of a market top - buying no matter how bad the news is?

...until the news is really bad.

I'm thinking an Irish haircut - or total default - followed by the European (British mainly) banks getting hammered which returns all the fears about credit again - affecting all markets.

Japan and Portugal in the mix are also players - one because they are the 3rd biggest economy in the world simply 'out of play' and the other because the EU is proposing to hike rates in April - possibly the same month it's third member requires a bailout.

An announcment by the Irish is big enough a shock to colapse the house of cards. I don't think the other factors alone are enough to do it.

With Ireland it's not the amount, it more because it sets a precident (well resets a forgotten one) i.e. Other countries in the firing line will consider the same course of action - Spain perhaps?


Robert Peston has touched on this today - finally the MSM starts to notice things when it's all too late.

This problem in Ireland has been going on for 3 years now - it's obvious the end result will be default - anyone who thinks otherwise is delluding themselves!

zaknick's picture

So why would the IMF be peeved? These are the fault lines that matter yet they're glossed over. Wonder if that new Bretton Woods fiat party Soros is throwing will be a dud.

snowball777's picture

Entire world moved to γγ- suicide watch negative.