Europe Plunges By Most In Six Months
We warned last week that European markets were beginning to show signs of cracking. European stocks had surged on to new highs while credit markets had decidedly not joined the liquidity-fueled exuberance. Sure enough a few days later and Europe in general is weak, but Italy and Spain are under significant pressure. The last four days have seen the biggest plunge in over six months with the IBEX (Spain -5.7%) and Italy's MIB -6.7%. At the same time, Europe's seemingly invincible OMT-promise-protected sovereign bond market has started to underwhelm. Italian bond spreads are 32bps wider and Spain 28bps wider - the biggest increase in risk in two months. Europe's VIX has surged from 14.5% to almost 19% today in the last 4 days and even Greek government bonds are losing their luster, -6.5% in the last few days. Whether this is exacerbated by European leaders jawboning the strength of the EUR down, or simply we hit the limit on reality amid Italian bank fraud, Spanish political fraud, referenda votes, and macro- and micro- fundamentals snapping; this is the worst performance in Europe in six months. It would seem that if the tail-risks in Europe are starting to re-appear then at least one of the legs of global equity exuberance is starting to break.
European Stocks are falling rapidly!!
Worst few days in over six months...
led by banks (Italian banks)...
catching down to credit's weakness...
as sovereigns start to crack wider also...
Charts: Bloomberg
(8 votes)
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Lets all hope bernanke's minions choke on the way to work today..
Fall 2013, crack-up boom.
EU has a "jobless recovery" ...same as USA.
Oh noes, trouble in the Soviet Union of Europe? Ize never heard sumthin such beforz!
U.S. Ten year yield above 2.0 %. Ben has some bonds to buy, market may go down a bit as his central bank minions buy with the sheeple's 401k monies (for a small fee, of course).
I think we ran up to what...2.25% last year around this time. Everyone ran around with their hair on fire that that the bond bull market was ending. Then something popped up and everyone went running back. Same as always.
In the cross asset space the cheap fuel to the run up has been funding from usd and jpy, both getting crushed against eur. Posis quite stretched, time for fat fks to try and get out of a burning house all at once.
DON'T BUY GOLD.....get into those Treasuries....you fochin' lemmings
I hold numerous productive assets and physical PMs. When fraud is the status quo, possession is the law. All paper is burning, but it doesn't hurt to front run the stupidity to aquire more physical, now does it?
WTF you worried about? The Central Banksters are all over this. Didn't you hear they came up with a plan of action at Basel summarized by their keynote speakers here
http://www.youtube.com/watch?v=0ZG11UBoj-o
The 10 year is the canary in the coal mine. The FED is not in control.
And they have not been since 2008. Dumb fucks.
gold slightly down too. by your logic gold buyers are dum fuks too.
gold slightly down too. by your logic gold buyers are dum fuks too.
The banksters have been selling the bonds to get in on the big stock market boom that's taking place. This market is FLYING. and if it doesn't come down soon my puts are going to expire worthless yet again, SOAB.
Maybe BS Berstanke will have to get the other banksters to sell equities and buy bonds for a while. Doesn't look like he's got nothing else to do at the moment.
HEY it WASN"T the 'elections' they were proping up markets for, it was for the StuporBowl after all!!
Euro is tanking too. This should send the US Dollar way up. Euro has been in vertical ascent since mid 2012.
http://bullandbearmash.com/chart/euro-monthly-completing-wave-2-wave-3-f...
No, it's not.
Must.....Moar....Monies....
Where do they find all this bulls? Listening to David Bianco from Deutche is just sickening (Yes I know I watch CNBC ;-(). No reasoning nothing - just bullish. Based on f-ing what?
bullish based on their need to steal your money and perpetuate the lie...what else?
It is directly tied to the fleecing of the people, moar fleece needed = moar bulls needed. You know Benny would never tell the girls he has a 3 inch penis, so he sends in the bulls to let them know, he is hung at 8 plus.
The girls?
:/
I think he meant a three inch toe nail; now that would impress the girls if it had nail paint and a naked toe tatoooooo!
I couldn't care less.
Yep. This European bullshit dragged on for all of last year. I don't want to hear about it anymore. It's time for a new show.
Fear and Loathing in Europe.
Break out the Devil Ether. It will accelerate the process.
http://www.youtube.com/watch?v=GmXGVDnPU9o
Roger that, but I demand Fear and Looting!
This is a VERY bullish development!
There are limits to manipulation and the limits are now within sight. It's strange how the ordinary person is fully aware of how bad things are and it is only the top 1% that needs to wake up as well but is hindered from doing so by the mirage of a rising stock market.
food stamps for the 1%
http://www.zerohedge.com/news/2013-01-31/how-stock-market-became-food-st...
"We warned last week...." You have warned every day for the last five years. The thing about predicting the end of the world is that, eventually, you will be right.
Yes, god knows how much money I have lost buying ES puts in the past 2 years...and just now
Hey dumbdumb-
ZH's economic, M3 and M6 analysis of the EuroCrisis is spot on. The Currency should have died in Augsust/September of 2012. What ZH (and Nigel Farage, and me, and a ton of other people) underestimated was the abject political fanatiscism of the people running the EMU. For these ideologues it is no longer just a economic union or political expirment -- it is their religion.
Amen - shame only +1 green available.
I have a Von Rompuy and Draghi crucifix on my dashboard.
There is an old story about crying "wolf!"
This isnt about 'wolves' dude, its about the FED playing dice with our nations wealth.
Eventually they will lose too many times and destroy everything they are playing with. I know this because the Universe is taking the other side of these bets and it has deeper pockeets than even the Fed.
Actually, it's about Europe. Dude.
Some primary dealer banks are European.
How The Fed's Latest QE Is Just Another European Bailoutits not just their religion, its Pax americana religion. The analysis on the other side of the pond, where ponzi reserve is king, is just as precipitous. Nigel Porridge can only swear in English about the Euro clowns...that's precisely his limitation, like all those City bums around Cameron.
Don't go blowing your horn about eurozone without including the overall picture of Oligarchy cabal around king $.
Just imagine if a tiny pebble like Greece or even Cyprus sends shivers down the spine of global incestuous bankers, drowning in debt and unknown CDS spider's web. It jerks the CB printers to spew 24/7, what would that world be like if the big boys suddenly said "I'm leaving the banksta table! "...??
All in one boat; and its controlled by king FED of uber $ reserve. Capo di Capo.
Get Ready Bears...
Wile E. Coyote overdue sell off awaits as SPX daily & weekly charts continue their protracted topping process from current
extreme levels.
http://trader618.com
Whatever. Look at them calmly steer those futures back. Even knocking gold down a few bucks at the same time. Wile E. Coyote can walk on water. Please disburse. Nothing to see here.
Don't fight the Printer.
what i have learned from the 12-15 printers that i have owned since they became feasible to own personally is that they work fine until that day that they don't...i could never predict when it happened, it's always at the worst possible time....i have also learned i have to have physical pen...just in case
Amen brother.. I believe it when i see it. Tbh "they" have been pretty efficient at letting some steam out and using that as an excuse to print more so perhaps this time will be upon us again soon.
Lol, even the euros nudging back up. Just about 12 minutes by my count till it gets ramrodded back over $1.36
BTFD!!
there is no sell-off that a money printer can't fix - don't hold your breath
Brilliant! With unlimited creation...