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European Equities Give Back Friday's Gains As EUR Tumbles Most In Almost 3 Months
Friday's ramp-fest in European stocks - which did not appear to be correspondingly followed by European sovereign debt - was largely retraced today. Extended by the bullish bias from the US NFP data (and closed before the US data BLShit sunk in), it seems that not just the catch down drove stocks in Europe (and Europe's VIX) but anxiety ahead of the expected wall of noise from European leaders ahead of their meetings (which we have already suffered today). European government bonds leaked lower (yields/spreads higher) and Swiss 2Y rates dropped to their lowest in a month (though still well above the mid-crisis safety panic levels of a few months ago). European credit also slid - tending to follow equities this time.
EURUSD's drop matched its lowest drop in almost 3 months...
European sovereigns leaked higher...
and European stocks gave back Friday's gains...
Charts: Bloomberg
Bonus Chart: EURUSD is its richest to impled-swap-spread levels in over a year - at almost 2 sigma...
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Is the BIS closed for Columbus Day?
EUR Tumbles Most In Almost 3 Months!!!!!!!!!!!!!!!!!
DXY 79.54 up .21 +.26%
lol
What's funny about that?
What's funny about that?
*************
Was wondering the the same thing-also-what's inflationary about any of the above data-
The Euro "TUMBLES!" and the DXY barely moves. It is inflationary because ALL currencies are devaluing and falling together.
It's funny because you guys are watching the wheels turn when the Central Bankers have placed an explosive on the motor.
Keep holding up the wall and you will be missing the point.
The Euro "TUMBLES!" and the DXY barely moves. It is inflationary because ALL currencies are devaluing and falling together.
Keep holding up the wall and you will be missing the point.
***************
The EUR/USD is down 0.49%-Silver is down 1.2%--Oil is down 0.60%--DAX is down 1.44%
The USDX is trading at 2005 levels and the EUR/USD is at 2004 levels-
I agree all currencies are devaluing together but i don't see anything that makes it inflationary-
Silver is at $34, up 3x since '06. Oil is up +15% since then too.
Not inflationary?
lol....k....
Not inflationary?
lol....k....
************
Oil is at- $89 down 40% since the 08 high- in spite of ME geopolitical tensions
Silver is at $34 down 30% from its 2011 highs
inflationary?
lol...k...
This article reeks of desperation.
Deflation is coming!!!
DEFLATION IS COMIIIIING!!!
RUUUUN!!!!!!
lol
yeah
its right behind the WARMING
"EURUSD's drop matched its lowest drop in almost 3 months"
That indy uses candle open & close prices, so it's premature to state the above.
Hey that looks like you could buy every time the lines touch and sell every time the gator opens its yap and vice versa. That can't be right. To easy.
uuuuh- FEDs closed due to holiday- therefore PPT, Trasury stabilization fund, Open mkt desk, and other forms of ponzi intervention are CLOSED FOR THE SESSION - how in the world could you be surprised?
Some big boys milking some wrong-footed small specs. Nothing has changed. eur = 1.2972, lurking around its next resitance level of 1,3 which will be overridden decisively in the not too distant future. USDX = 79.59, well below the level with the magical 8. handle which now appears to be unreachable, apart from the usual HFT-caused and therefore artefactual and short-lived intraday flares. It is safe to predict that a large number of us$ holders will come to the same conclusion as Bill Gross: There simply is no fundamental reason to prefer the iou of the us to the iou of the eu.