AVFMS's blog
17 Sep 2012 – “ Every Day I Have The Blues " (Memphis Slim, 1949)
Submitted by AVFMS on 09/17/2012 10:53 -0500Having had the last 2 weeks propped up by Ben and Jerry, oops, Mario, who delivered the f(l)avours that had been expected throughout the summer, markets will be in need for some concrete impulses to push further.
Spanish bond auction on Thu rather on the mighty side.
Mostly bored today, though...
14 Sep 2012 – “ Why Does My Heart Feel So Bad " (Moby, 1999)
Submitted by AVFMS on 09/14/2012 11:00 -0500Given how many unconventional means have been deployed over the last weeks, I wouldn’t exclude some form of stimulus postpartum depression… With nothing in immediate sight, it’d better hold. Why does my heart feel so bad?
13 Sep 2012 – “ Sing, Sing, Sing " (Benny Goodman, 1937)
Submitted by AVFMS on 09/13/2012 10:56 -0500
OMT? Tick. Karlsruhe? Tick. ESM / EFSF com OMT up and running. Soon. Tick.
QE3? Ok, maybe tonight. Half tick.
What’s next? Banking Union? Pfff… Months away. Fundamental good macro news? Probably not tick.
Spain situation? Waiting.
12 Sep 2012 – “ Yes Sir, I Can Boogie " (Baccara, 1977)
Submitted by AVFMS on 09/12/2012 11:03 -0500Whatever... Final sign off by Germany and an ESM start-up session for 08 Oct.
Yes, Sir, I Can Boogie.
Spanish aid “not urgent, given actual market levels”…
No Boogie?
11 Sep 2012 – “ Here Comes the Rain Again" (Eurythmics, 1984)
Submitted by AVFMS on 09/11/2012 11:12 -0500Looks like a loop bad US news, good EUR; good EUR must be good news.
Love boat, everywhere. Final Risk On, or so. And up 1%
10 Sep 2012 – “ The Number of the Beast " (Iron Maiden, 1982)
Submitted by AVFMS on 09/10/2012 10:56 -0500Ah, hmm, yes, Greece… Not much else to chew on.
Risk is lofty and near the point where all stimulus measures that were already priced have been delivered.
So, what's next?
07 Sep 2012 – “ It’s So Easy " (Guns ‘N Roses, 1987)
Submitted by AVFMS on 09/07/2012 11:02 -0500Central Banks United have the upper hand these days. So don’t mess with them…
At least not this week…
06 Sep 2012 – “ Shock Me " ( KISS, 1977)
Submitted by AVFMS on 09/06/2012 11:02 -0500So, ok, yes, there’s a huge conditional bazooka out there, but who wants to really use it?
Seems like a huge defibrillator. Good to have, but beware of not shocking the patient too much.
05 Sep 2012 – “ (Shake, Shake, Shake) Shake Your Booty" ( KC & The Sunshine Band, 1976)
Submitted by AVFMS on 09/05/2012 10:59 -0500Monetary Outright Transactions - MOT
Moths??? Like those burning up on light bulbs??? Or like in “to mothball”, buy and store?
04 Sep 2012 – “ Shake Your Moneymaker " (Elmor James, 1961)
Submitted by AVFMS on 09/04/2012 11:03 -0500There is still some compression margin, but where to put the credit spread, real or “perceived”, from a (real) default possibility point of view or even from the shunned convertibility point of view?
03 Sep 2012 – “ No Money Down " (Chuck Berry, 1957)
Submitted by AVFMS on 09/03/2012 10:50 -0500“Believe me, it will be enough!” will request some massive outside-the-box thinking…
31 Aug 2012 – “ Dust in the Wind " (Kansas, 1978)
Submitted by AVFMS on 08/31/2012 11:02 -0500Upcoming calls from Ben and Mario to the governments?
Get your act together, there’s just so much that can be done.
Odd and contradictory ROn / ROff close
30 Aug 2012 – “ For Heaven’s Sake " (Frankie Goes To Hollywood, 1986)
Submitted by AVFMS on 08/30/2012 11:02 -0500We don't need recession
Or means of repression
Just give us some money
Our life could be sunny too...
17 Aug 2012 – “ Positive Vibration " (Bob Marley, 1976)
Submitted by AVFMS on 08/17/2012 11:00 -0500Markets taking any negative news as additional must-have accelerators of a bail-out.
Time being of the essence.
But what if things just drag on?
16 Aug 2012 – “ Moments in Love " (The Art of Noise, 1984)
Submitted by AVFMS on 08/16/2012 10:49 -0500Organic growth is slow and painful (Boo!), central bank money fast, cheap and with few strings attached (Yes!)…And anyway, QE and other supports have already been priced in… Can’t change the programme.
