ETC

RANsquawk European Morning Briefing - Stocks, Bonds, FX etc. – 14/05/10

RANsquawk Market Wrap Up - Stocks, Bonds, FX etc. – 13/05/10

RANsquawk US Afternoon Briefing - Stocks, Bonds, FX etc. – 13/05/10

Our friends at WJB shared these pictures with us earlier today. We’ve been smiling since. Interestingly, we saw a very similar sentiment set-up in September-October 2009, when we wrote "A Gold Mine is a Hole in the Ground with a Liar on Top."

Does anyone here remember the Latin American debt crisis in 1982? It was a lot like Greece....

In the FDIC’s own words: “The crisis began on August 12, 1982, when Mexico’s minister of finance informed the Federal Reserve chairman, the secretary of the treasury, and the International Monetary Fund (IMF) managing director that Mexico would be unable to meet its August 16 obligation to service an $80 billion debt (mainly dollar denominated). The situation continued to worsen, and by October 1983, 27 countries owing $239 billion had rescheduled their debts to banks or were in the process of doing so...

This is a European bank that is thoroughly insolvent, and this is without counting the fact that its sovereign debt holdings will probably drag it 3 fathoms below sea level, yet it is trading at one of the highest premiums in all of European bankdom!

RANsquawk European Morning Briefing - Stocks, Bonds, FX etc. – 13/05/10

Got Gold?

RANsquawk Market Wrap Up - Stocks, Bonds, FX etc. – 12/05/10

The sovereign debt bear raids continue unabated, yet investors fear nothing, and continue buying U.S. Dollars, lap up new U.S. Treasury offerings, ramp up various consumer stocks and REITs. Another stampede towards the infalliable U.S. economy while the rest of the world crumbles.

RANsquawk US Afternoon Briefing - Stocks, Bonds, FX etc. – 12/05/10

Equities now officially have an active memory of about 24 hours. The biggest market drop in history is now long forgotten, and the only consolation to investors is that SEC is actively fixing the problem even though it has no idea what the problem is. Overnight, futures went up by 20 handles in the span of 4 hours as the invisible bid appeared yet again, afraid of what would happen if the immediate drop in ES was not breached. Luckily, funding markets are not nearly as stupid as stocks, and as a result the TED spread has yet to show any signs of moderating. At last check 3 month LIBOR was 0.4302%, the highest it has been since Q3 2009, and certainly a change from the funding market calm that hadenveloped all market participants like Federal Reserve "no risk" amniotic sack over the past year. At the same time the 3 Month Bill is once again grinding tighter, as investors unsure what to buy, buy everything: stocks, bonds, oil and especially gold. Another perfectly insane day in US capital markets glutted by endless liquidity.

RANsquawk European Morning Briefing - Stocks, Bonds, FX etc. – 12/05/10

RANsquawk Market Wrap Up - Stocks, Bonds, FX etc. – 11/05/10

RANsquawk US Afternoon Briefing - Stocks, Bonds, FX etc. – 11/05/10