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"Successful" Portugal Bond Auction Cost To ECB: €1 Billion In Two Days
The reason for today's most recent bizarro boil up per Bloomberg: "The European Central Bank spent between 1 billion euros ($1.3 billion) and 1.5 billion euros in government bonds in the last two days, according to Nomura International Plc estimates." No news yet on how much Japan, China, the Smurfs, and Uranus ended up having to purchase to bring you today's 1% surge in stocks.
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Interesting times bitchez!!! Pass the popcorn here comes one of the good parts!
Everything is absosmurfly wonderful.
Chump Change
But you can't eat shares nor can you use them to heat your home, that is unless you burn the certificates if you have any.
but as most people in the world don't have any anyway, not a lot of good is it
what is turning my stomach..is that this amount of printing five years ago would scare the hell out of everyone....today.....its just today...and the same amount tomorrow of printed money....and the same next week...and forever it seems right now until it all falls apart.....
To quote Jim Rickards (on Twitter): ECB prints to buy Eur & Japan debt. China prints to buy Eur, US & Japan debt. US prints to buy Eur & US debt.
Their next move to aquire money for the EU bonds market is just beautifull.
As it's getting harder to get funds through banks, they want to introduce Eurobonds that can be bought by individuals here in Europe.
I bet there will indeed be enough idiots who will put their money into those at a bottom interest.
They don't get it that banks buy them only to use them as collateral to do crazy things and that the average retail investor can't use them for those so WHY would you put your money into a 10yr bond?
Also the news here that the US DOW is up 20% these last few months is the clearest indicator that the economy is back up. No mention AT ALL about the FED interventions.
The news here is totally blind for actual events. They actually call it a defensive investment to go long in industrial values...
They had to make sure that Portugese bond issuance didn't fail, at all costs.
Yeah hell of a strawman - build the auction up like it is important.. 1.6 billion is chump change Benny ruins more 100 dollars bills than that in a week