You're now on the archive server. Commenting has been disabled.
Spanish 10Y Bond Yield Breaches 6% - Highest In 3 Weeks As Nothing Still Fixed
The yield on 10Y Spanish bonds just broke back above 6% for the first time in three weeks as the spread to Bunds also broke above 450bps. Now up over 33bps this week (along with Italy +20bps and Portugal +36bps), it seems the market is waking to the idea that words are simply not as good as actions and even actions are irrelevant if they simply kick the can. The front-end of the Italian and Spanish curves are underperforming today (Italy 2Y +12bps and Spain +22bps) as the OMT-front-running exuberance a-la-LTRO is being unwound. It seems European credit markets were indeed on to something yesterday as they underperformed. Spanish and Italian equity markets are down around 3% with France off more than 2% and credit spreads widening notably further in financials and corporates - as EURUSD slides to 1.2850.
Spain (10Y Yield, 10Y Spread, 5Y CDS)...
Spain 2Y...
»
- 4631 reads
- Printer-friendly version
- Send to friend
Keynsianism at its finest
FLASH NEWS ALERT: CNBC HAS NEW HOT CHICK COVERING GREEK RIOTS. THIS IS SEEN AS BULLISH FOR MARKETS.
I've seen this episode before. How do I change channels
They need Bill Fucking Murray to present this groundhog day news.
It could be the ECB selling the Spanish 10 year, just to force Spain into their hands.
I am voting
Ron Paul for POTUS
Farage for POTEU
case closed
DOW will close above 15,000 tonight. They will pump this baby big time. Ben likes to pump his bitch DOW. Pump, pump, pump!
On second thoughts, with all that pumping 15,000 is too low. Let's have DOW 20,000 by 2PM.
The global economy is in a mess. People are doing mass protests across Europe. People are jobless, going hungry.
This will not end well.
Career risk is high: 3 days left for the "money on the side" to get in before EOQ.
/LOL
There is no money on the side in Europe. The rich are about to be eaten by the poor.
Down this road in 1930, the Germans came...
In the new normal, nominal is real.
smoke and mirrors; this allows Rajoy to raise the white flag to ECB, right on cue, and tell his own people :
'I tried my best; those Oligarchy markets leave me no choice but to ask our Euro friends for help!'
Nice play, just like in Greece, and when Berlu tried to buck it, remember what happened to him!
Never cross the 7% Rubicon.
DB/Commerzbank going down the toilet today on the DAX.
perfectly appropriate analogy, as "toilet" is where worthless crap should go.
Oh, I don't know. Wall Street have a long and proud history of packaging and selling worthless crap.
"Oh, I don't know. Wall Street have a long and proud history of packaging and selling worthless crap."
So, someone needs to get on the phone with Citi or GS and find a way to collateralize DB/Commerzbank, and then sell it to the world where it can be "sanitized" through re-hypothication and repo-105's! As long as AIG will write CDS against it, I am sure CaPers is willing to buy.
Well when you have a region trying to secede, the army threatening to overthrow the government because of austerity, big riots everywhere, 50%+ youth unemployment and people looting TONS of food from grocery stores, you BETCHA yields are gonna go up.
Spain is rapidly becoming a third world country.
and the can is on the 20yd line but they have to send a kicker in! who will it be this time as many of the can kickers have sore toes from so much can kicking! who will it be folks?!
"who will it be folks?!"
Doesn't really matter - with the replacement refs it can be anyone, they'll pick the outcomes as they're directed from the top.
I'm sure we'll have another rumor, I mean good news just in time for Friday's end of the quarter window dressing.
Just have the ECB anounce there will be a bailout. fixed.
But this one will definitely be the last!
Someone just mentioned WWII....I think we need that kind of reset for this ever to change back to the old normal....and I use the 50´s and early 60´s as the old normal....where dad worked...mom was a homemaker...the kids went to good public schools...where they learned..were taught right and wrong...people could own a home ...and would never move for a long time...you knew your neighbors..your doctor..your teachers...your plumber..
But to get back to that ...you have to destroy cities to where everyone is scrounging for food...for shelter...for water first...then healthcare..clothing..and on and on...a start over of society...rich and poor...back to neighborhood living..
Oops, euro and gold are dancing together again. We need more QEs.
Gold bashed. Everything is FIXED.
IMPENDING SELL OFF...
Due to recent central bank intervention and short covering spikes, these daily charts are extremely overextended and significant correction expected very soon:
SPX, DOW, NASDAQ, NZDUSD, GBPUSD, AUDUSD, COPPER, CRUDE, GOLD, SILVER. [USD strength will return]
http://www.zerohedge.com/news/2012-12-24/market-analysis
http://trader618.com