AVFMS's blog
14 Aug 2012 – “ Not Fade Away " (The Rolling Stones, 1964)
Submitted by AVFMS on 08/14/2012 10:47 -0500No exactly fireworks, but anything that isn’t totally bad these days is good to have.
Good news, but then not so good news?! So, no QE, after all?
13 Aug 2012 – “ Can You Feel it? " (Mr. Fingers / Ch. Prommers, 1986)
Submitted by AVFMS on 08/13/2012 10:53 -0500Not much life. Nor conviction.
Barely a pulse.
Can you feel it?
10 Aug 2012 – “ Rainbows & Pots of Gold " (Stereophonics, 2003)
Submitted by AVFMS on 08/10/2012 11:29 -0500Otherwise… No titbits…
Nada. Rien. Nichts. Nothing.
09 Aug 2012 – “ Beautiful Days " (Venus, 2003)
Submitted by AVFMS on 08/09/2012 10:56 -0500ECB to EU governments: “Guys, we won’t fly solo…”
Bond Market to ECB “Show me the money!”
Equity market “Someone said Money? Buy!”
08 Aug 2012 – “ Pump Up The Volume " (M|A|R|R|S, 1987)
Submitted by AVFMS on 08/08/2012 10:55 -0500Will drift.
Won’t help trading volumes…
Flattish to slightly lower US open. Drifting…
07 Aug 2012 – “ Life on Mars? " (David Bowie, 1973)
Submitted by AVFMS on 08/07/2012 11:12 -0500To be correct, it is a series of games of chicken, as next to the different sovereigns, the ESM/ESFS, the ECB, and why not the IMF, below the sovereigns there are the regions, be it in Spain or, as it stands, in Germany.
20 Jul 2012 – " Alabama Song (Whisky Bar) " (The Doors, 1967)
Submitted by AVFMS on 07/20/2012 11:34 -0500Time to panic? Or heading to the next whisky bar? Question is now what next? Somehow, we’ve been here before, but since then we had LTRO1, LTRO2, a (bank) bail-out, lots of European haggling and bickering… Hot Summer.
19 Jul 2012 – " One Bourbon, One Scotch, One Beer " (John Lee Hooker, 1966)
Submitted by AVFMS on 07/19/2012 10:59 -0500Still the divergent world views between equity and rates as during the last days.
EGBs better supported. Equities, too…
Spain held so so today, did overshoot 7%, but closed back below. The level itself is just symbolic; we all know…Fact is, Spanish funding is a costly thing.
Credit feeling slightly heavier than equities.
18 Jul 2012 – " Eisgekühlter Bommerlunder " (Die Toten Hosen, 1983)
Submitted by AVFMS on 07/18/2012 10:49 -0500Middle East situation not really in the prices, as the tension in Syria is growing to new heights.
IMF annual review of EZ policies pitches a lot of already pitched ideas (QE, etc etc). No news
Nothing crisp from Ben – outside comments that “Europe is not close to having a long term solution”… Thanks for the thumb up!
17 Jul 2012 – " Cold Gin " (KISS, 1974)
Submitted by AVFMS on 07/17/2012 10:59 -0500Same story again: Recurrent picture of Hard Core grinding slightly tighter, Soft Core doubling down on that . Italy eventually better today but still over the 6% mark and Spain stuck over 6.75%. Equities just a tick weaker after all. Gold non-QE victim. EUR slammed through 22, but rebounded off 1.219.
Eventually quite resilient markets, given all the expectations…
16 Jul 2012 – " Sloe Gin " (Joe Bonamassa, 2007)
Submitted by AVFMS on 07/16/2012 10:54 -0500Europe slipping into (light) ROff (and then out). Recurrent picture of Hard Core grinding tighter, Soft Core doubling down on that . Peripherals drifting wider with Italy eventually further off the 6% mark and Spain at 6.77%. Equities about unchanged after all.
BKO eventually closing on a historic -0.060% low.
Slow dragging day, if it wasn’t for the EUR jogging back and forth all the time. Something gotta move, I guess.
13 Jul 2012 – " Slow & Low " (Beastie Boys, 1986)
Submitted by AVFMS on 07/13/2012 10:57 -0500Nice equity (and commodities) close (DAX futures peaking at +2%).
Didn’t seem to impress EGBs, though. Nor credit, as it stands. No ROn mode behaviour here. And certainly not for Italy.
12 Jul 2012 – " Under Pressure " (Queen & David Bowie, 1981)
Submitted by AVFMS on 07/12/2012 10:48 -0500Can’t keep count of EGB all-time lows anymore: let’s simplify by saying that the whole non-Peripherals EGB universe up to 5 YRS has traded new all-time lows today. Under pressure…
11 Jul 2012 – " Keep On Running " (The Spenser Davis Group, 1965)
Submitted by AVFMS on 07/11/2012 11:06 -0500Continuous Spain running ahead , dragging Italy. Micro movements in equities and FX in total pip for tick sync.
10 Jul 2012 – " Running To Stand Still " (U2, 1987)
Submitted by AVFMS on 07/10/2012 10:51 -0500Hmmm… Should we be impressed?
