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Meanwhile In European Financials...

Tyler Durden's picture




 

Rajoy tried to assert some confidence in Spain this morning (#Fail) but the realization of the potential for fraud tape-bombs being everywhere in Europe's financial and political elite appears to be pricing in. All five of Italy's largest banks are halted currently (all down 8-12% from Friday's open) as the broad stock markets continue to sink (despite short-selling bans - so don't blame them nasty bearish speculators). Even more dramatic is the blow-out in European financial credit spreads. The Subordinated financials spread has been on the rise from the first day of 2013 - and has now seen its biggest 3-week loss in over 14 months! There is a way to play this trend in the US...

  • *UBI BANCA HALTED AFTER FALLING 4.6% IN MILAN :UBI IM
  • *MEDIOBANCA SHRS HALTED AFTER FALLING 4.9% IN MILAN :MB IM
  • *BANCO POP SHRS HALTED AFTER FALLING 5% IN MILAN :BP IM
  • *UNICREDIT SHRS HALTED AFTER FALLING 7.4% IN MILAN :UCG IM
  • *INTESA SHRS HALTED AFTER FALLING 4.9% IN MILAN :ISP IM


European sub financials have smashed wider all year - biggest loss in 14 months

 

with Spanish stocks plunging back to bonds reality (and EUR still disconnected)...

 

as Spanish bond spreads start to decompress from a previous unreality...

all of which has happened post-LTRO as that free-money may just have had the effect we said...

 

as Italian Bank stocks (all banned from short-selling) continue to plunge...

 

and if you want to play this trend - EUFN (the US-based European Financial ETF) has not pulled lower (yet) as risk increased in Europe...

 

Charts: Bloomberg

 

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Mon, 02/04/2013 - 11:56 | 3213382 williambanzai7
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THE CRISIS IS OVER

If ever there was a picture designed for rubbing it in...

Mon, 02/04/2013 - 12:15 | 3213449 CaptainSpaulding
CaptainSpaulding's picture

What the fuck is James Lipton from inside the actors studio doing on the left?

james_lipton.jpg

Mon, 02/04/2013 - 11:51 | 3213384 Dr. Engali
Dr. Engali's picture

Damn them evil speculators selling the banks. Don't they know that the Spanish banks are well capitalized and are a good investment? 

Mon, 02/04/2013 - 12:29 | 3213485 Winston Churchill
Winston Churchill's picture

As sound as long term UST's.

Mon, 02/04/2013 - 11:53 | 3213393 fonzannoon
fonzannoon's picture

FU Tepper.

Mon, 02/04/2013 - 11:57 | 3213404 jmcadg
jmcadg's picture

Rajoyce!

Mon, 02/04/2013 - 12:09 | 3213432 thismarketisrigged
thismarketisrigged's picture

fuck all these markets, hope they all crash and burn

Mon, 02/04/2013 - 12:23 | 3213469 cifo
cifo's picture

They won't, unfortunately.

Mon, 02/04/2013 - 15:17 | 3213993 Black Markets
Black Markets's picture

They can't actually.

Markets are valued in currencies and currencies would have to rise in value for markets to crash.

In case you haven't noticed its currencies that are crashing, which is also pushing markets higher as markets are valued inversely to currencies.

Very simple really it's a cash crash. So stock markets will soar.

Mon, 02/04/2013 - 12:12 | 3213440 DoctoRx
DoctoRx's picture

Another way to play this is to buy Treasuries.

Mon, 02/04/2013 - 13:53 | 3213481 Frozen IcQb
Frozen IcQb's picture

Multi-family income producing properties financed with long term fixed rate mortgages.

Mon, 02/04/2013 - 12:14 | 3213446 Stoploss
Mon, 02/04/2013 - 12:20 | 3213450 falak pema
falak pema's picture

but but but they won the Nobel ! lol!

PS : its just the usual roller coaster so enjoy the ride; Italy went up bigtime in the last few weeks. 

Mon, 02/04/2013 - 12:21 | 3213462 ghostzapper
ghostzapper's picture

Draghi and Euro politicians been trying to pull a Billie Batts to Tommy D from Goodfellas:

"I fuck kids like that in the ass in the can.  in the ass in the can!!!"

"Come on, you fuckin feeling strong?"

"Relax, don't get nervous."

But Batts ended up in the trunk of that car and woke up coughing blood to Tommy D holding a knife.

Tommy D at dinner with mom: "Anyways Ma, that reminds me I need to borrow this knife." 

Mon, 02/04/2013 - 12:31 | 3213490 IridiumRebel
IridiumRebel's picture

Euro Collapse Chart Porn.....
I'll need some time alone.

Mon, 02/04/2013 - 13:21 | 3213624 rqb1
rqb1's picture

Thanks, that was funny

Mon, 02/04/2013 - 12:34 | 3213497 AbbeBrel
AbbeBrel's picture

Rajoy has received the "Dreaded Vote of Confidence" from Merkel.    He is doomed.

Mon, 02/04/2013 - 13:19 | 3213616 littleguy
littleguy's picture

Are there actually any more Goldman'tards left to take over the reins? Merkel's run out in her pocket-book...

 

 

Mon, 02/04/2013 - 12:34 | 3213498 LongSoupLine
LongSoupLine's picture

It's over you EU motherfuckers. Get ready to get your own fucking balls shoved down your fucking neck you fucking ass licking crooks.

Mon, 02/04/2013 - 12:37 | 3213511 forwardho
forwardho's picture

Wow, bet that felt good!

Mon, 02/04/2013 - 18:25 | 3214568 Savyindallas
Savyindallas's picture

I got all pumped up and excited just reading it - Kill the Motherfuckers!!  - hang them by their balls and waterboard them with diarhrea from the diseased crack addict whores they have been spending all their stolen money on.

Damn that felt good.

Mon, 02/04/2013 - 12:37 | 3213510 thismarketisrigged
thismarketisrigged's picture

lets end the day down 3 plus percent here in the u.s, then hopefully fucking asia will fucking crash tonight, those mother fucking corrupt assholes down there.

 

s&p 600 coming to a place near u within the next year, with dow 5000 to follow

Mon, 02/04/2013 - 12:42 | 3213521 thismarketisrigged
thismarketisrigged's picture

this asshole on cnbc just said that todays sell off is not even that big a deal, and that the reason for spains losses was bc it always falls in feb and that it will prob gain all of its gains back realitvely quickly,

 

is he fucking retarted? all of europe is a fucking mess, this is just the beggining, the crash has just begun.

 

s&p under 1500, so happy, hoping for 600 soon

Mon, 02/04/2013 - 12:52 | 3213542 Caracalla
Caracalla's picture

Sell any rallies and go short all you can!  Remember, the crash in 2007-09 took over 15 months from beginning to end and there were plenty of mini-rallies to sell during this time.  Let's crash this mother****** !!

Mon, 02/04/2013 - 13:19 | 3213614 Caracalla
Caracalla's picture

S&P below 1500!  Burn mother******, burn!!!

Mon, 02/04/2013 - 13:12 | 3213595 SDRII
SDRII's picture

June-11 Remember when Berlusconi Foreign Minister called for immediate hold to bombing in Libya?

Nov-11 Silvio Berlusconi backed by call girl at heart of Bunga Bunga scandal

Nov-11 Berlusconi resigns

Apr-12 Berlusconi, Schroeder to attend V.Putin inauguration

Now: Berlusconi closes in polls and promised to roll back Monti tax which The Guardian deems dangerous

 

Mon, 02/04/2013 - 13:17 | 3213610 littleguy
littleguy's picture

I've been waiting for the eurocalypse for ages. I'm fed up. Let's ramp the risk off please... I've been missing the Euro bond spread chart porn for a while now. Actually I just want to see some more rotten European banks / Eurotards get their comeuppance.

Mon, 02/04/2013 - 14:25 | 3213811 BlueCheeseBandit
BlueCheeseBandit's picture

Now is the winter of our discontent.

Ralph: Oh no! Run!

Mon, 02/04/2013 - 16:46 | 3214301 venturen
venturen's picture

now if we could just clean up the Wall Street massive payoffs to Washington...then we would be making headway. I saw where the new Secretary of State is a director of a couple banks...having also been paid a couple million in between jobs from some oligrach bank!

Mon, 02/04/2013 - 16:47 | 3214306 venturen
venturen's picture

What percent of Obama team will end up awash in FED and TARP money?

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