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Meanwhile In Spain...

Tyler Durden's picture





 

Spain's IBEX stock market index has plunged by around 6% this week - the biggest weekly drop in six months. Spanish sovereign bond spreads are flat-lining, entirely ignorant of this devastation; and of course, EURUSD continues to surge. The EUR surge and IBEX plunge coincidentally began at the same time (Wednesday) as Rajoy's alleged kickback scheme was uncovered... oh yeah, and Spain lifted its short-selling ban (oops). Spanish stocks are now red for 2013...

Worst drop in IBEX in six months...

 

as IBEX plunges on the week...

 

and a total disconnect from bonds and EURUSD...

 

Charts: Bloomberg

 


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Fri, 02/01/2013 - 09:59 | Link to Comment fonzannoon
fonzannoon's picture

That euro/usd is heading to 1.40. Something has to give. I think Israel may have to drop some more bombs and spark something to get a nice old fashioned run to the USD.

Fri, 02/01/2013 - 10:06 | Link to Comment Eireann go Brach
Eireann go Brach's picture

Patience grasshoppers! Enjoy the games at play and take the free money they are handing you, then get out of the market before everyone else and sit back and enjoy the collapse!

Fri, 02/01/2013 - 10:19 | Link to Comment Whiteshadowmovement
Whiteshadowmovement's picture

Fonz isnt it crazy that its been ripping so high so fast (just look at that iex chart) especially this late into the rally...?

You think good ole Tom Stolper is fearing for his job? Really he was like one of those coolers the old casinos used to employ in Vegas.

Hes useless without the perfect record- guys who are only *mostly* wrong are a dime a dozen on wall street, but a guy who could get it wrong always, now that was special...

Fri, 02/01/2013 - 10:23 | Link to Comment fonzannoon
fonzannoon's picture

He is too busy giving that ugly dude Abe Joseph Cohen a foot rub to notice he got one right.

Something has to give soon.

Fri, 02/01/2013 - 10:30 | Link to Comment Whiteshadowmovement
Whiteshadowmovement's picture

+1 lol

As Carlin once put it- you wont fuck him/her with a stolen dick!

Fri, 02/01/2013 - 10:35 | Link to Comment fonzannoon
fonzannoon's picture

WTI and the 10yr not buying in today. I think they are trying to load the boat with people shorting the 10yr before they decapitate them.

Fri, 02/01/2013 - 10:37 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Abbey Joseph Cohen made an appearance today?  Really?

If it saw its shadow, that's a 100% indication of about six more weeks of iTulips.

Fri, 02/01/2013 - 10:39 | Link to Comment fonzannoon
fonzannoon's picture

Far be it from me to correct you TIS but it "Abe" not Abbey. His Dad named him Abe because he was born with a beard and looked just like Lincoln.

Fri, 02/01/2013 - 10:00 | Link to Comment thismarketisrigged
thismarketisrigged's picture

dont worry, the criminals would never let our market plunge .50 percent, let alone 6 plus percent.

 

isnt it hilarious how we wiped 94 pts off the dow the past 2 days and these criminals are going to open the market up with all those losses wiped away and then some additions

Fri, 02/01/2013 - 10:00 | Link to Comment swissaustrian
swissaustrian's picture

Can you hear the roaring storm coming?

Fri, 02/01/2013 - 10:06 | Link to Comment ATM
ATM's picture

Spanish yield spreads have flat lined? Thank Ben Bernenk! He is certainly adding billions of Spanish sovereign to the Fed balance sheet to improve the credit quality of the shit he owns.

Fri, 02/01/2013 - 10:23 | Link to Comment Banksters
Banksters's picture

They are using fucking pension funds to buy their own bonds.   What kind of shit is that?

Fri, 02/01/2013 - 10:04 | Link to Comment DavidC
DavidC's picture

Meanwhile, only in the USA, unemployment ticks up, the market gets a hard on, GDP goes down, the market keeps its hard on...

DavidC

Fri, 02/01/2013 - 10:07 | Link to Comment Glass Seagull
Glass Seagull's picture

Vaya con dios.

Fri, 02/01/2013 - 10:31 | Link to Comment Banksters
Banksters's picture

Rajoy has been taking kick backs for years as he imposes austerity on a country with 27 percent employment.    Can you say dickhead?

 

Spain Rajoy will address corruption scandal on Saturday

(Reuters) - Spanish Prime Minister Mariano Rajoy will speak publicly on Saturday regarding media reports alleging that he and other leaders of the ruling People's Party received payments out of a slush fund fed by private donations.

 

Fri, 02/01/2013 - 10:05 | Link to Comment LawsofPhysics
LawsofPhysics's picture

What do you prefer, a strong currency or a strong (but utterly bullshit) "market".  Lots of fees, commissions, and bonuses being skimmed in that strong "market".

Am I the only one that would prefer the former?  I purchase my inputs with currency, not stocks, but then I actually know how to produce something of real value.

Fri, 02/01/2013 - 10:12 | Link to Comment q99x2
q99x2's picture

Who could imagine ...it can't happen here my Dear...that they would freak out in Spain then Italy in Kansas Kansas Kansas.

Fri, 02/01/2013 - 10:10 | Link to Comment thismarketisrigged
thismarketisrigged's picture

us manufacturing pmi 55.8 vs expected 56.1.

 

just ignore, move on, its all good,lol

Fri, 02/01/2013 - 10:12 | Link to Comment LongSoupLine
LongSoupLine's picture

Fucking eat diseased shit and die EU and Bernanke.

 

Fucking pieces of fucking criminal shits.

Fri, 02/01/2013 - 10:20 | Link to Comment Monedas
Monedas's picture

Mmmmmm ?    Infectious medical waste .... laced with "diseased shit" .... you want to join my team of joke writers .... there's always room for one more sick mind ?

Fri, 02/01/2013 - 10:13 | Link to Comment SheepDog-One
SheepDog-One's picture

-50 DOW points yesterday immediately regained in futures +another 60 for good measure? Bernanke you butt wrangler FUK U!!

Fri, 02/01/2013 - 10:14 | Link to Comment Haus-Targaryen
Haus-Targaryen's picture

Guys this is bad news, which in today's market is great news.  BUY BUY BUY!!!!!

Fri, 02/01/2013 - 10:15 | Link to Comment buzzsaw99
buzzsaw99's picture

ibex still way over-priced. the ecb must be very happy

Fri, 02/01/2013 - 10:17 | Link to Comment algol_dog
algol_dog's picture

Futures ramping ... Major BEAR trap ahead ~

Fri, 02/01/2013 - 10:16 | Link to Comment THE DORK OF CORK
THE DORK OF CORK's picture

For Ireland the Euro / Sterling rate is all important.

 

The higher the the Euro rises against Sterling the more neutron bombs are dropped on this bog....

 

PS

 

Posted this elsewhere .

 

A new commuter rail station in Zaragoza Spain which sees just 60 passengers a day…………..

http://www.youtube.com/watch?v=yDwL9EPq_Qw

es.wikipedia.org/wiki/Estación_de_Miraflores

 

The euros role seems to be all about the extraction of rational domestic demand both during credit inflation and money deflation periods.

 

 

Fri, 02/01/2013 - 10:20 | Link to Comment WTFUD
WTFUD's picture

The reign in spain slip slides slowly down the pain drain!

Fri, 02/01/2013 - 10:24 | Link to Comment Monedas
Monedas's picture

Why do they manipulate Gold prices, you ask .... if you were a gold prospector .... and everytime you swished a shovel full of dirt in your gold pan .... you collected one per cent in gold nuggets .... you'd want to manipulate and arbitrage .... forever !

Fri, 02/01/2013 - 10:27 | Link to Comment rsnoble
rsnoble's picture

Careful what you say about Spain, they are going to fire anyone that reports anything negative.  ZH will probably get a notice today......you're fired!  LMAO.  Oh the beauty of collapse.

Fri, 02/01/2013 - 10:30 | Link to Comment Monedas
Monedas's picture

Yesterday, I saw a new baseball cap .... which read:  "Fuck You You Fucking Fuck" !

Fri, 02/01/2013 - 10:32 | Link to Comment Buzzworthy
Buzzworthy's picture

EUR will remain strong because the ECB marks physical gold holdings to market.  Regardless of what the shills say there is a de jure gold standard at work in the world.  When it becomes de facto the Eurozone will be able to revalue gold upward many multiples and recapitalize sovereigns with a form of money that has no counterparty risk.  End of debt trouble for the Eurozone and end of the USD.

Fri, 02/01/2013 - 10:34 | Link to Comment firstdivision
firstdivision's picture

This is a bullish signal.

Fri, 02/01/2013 - 10:43 | Link to Comment rsnoble
rsnoble's picture

Ever wish someone that has inside access like Farage would bring some nice hardware to work and blow the likes of Romfueypoy into small fucking pieces?  That's childsplay compared to what they have in mind for the rest of us.  Sorry ass motherfuckers.

Fri, 02/01/2013 - 11:04 | Link to Comment goldenbuddha454
goldenbuddha454's picture

That IBEX looks like duck-squeeze!

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