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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 | Link to Comment williambanzai7
williambanzai7's picture

THE CRISIS IS OVER

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

Mon, 02/04/2013 - 12:15 | Link to Comment 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 | Link to Comment 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 | Link to Comment Winston Churchill
Winston Churchill's picture

As sound as long term UST's.

Mon, 02/04/2013 - 11:53 | Link to Comment fonzannoon
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FU Tepper.

Mon, 02/04/2013 - 11:57 | Link to Comment jmcadg
jmcadg's picture

Rajoyce!

Mon, 02/04/2013 - 12:09 | Link to Comment thismarketisrigged
thismarketisrigged's picture

fuck all these markets, hope they all crash and burn

Mon, 02/04/2013 - 12:23 | Link to Comment cifo
cifo's picture

They won't, unfortunately.

Mon, 02/04/2013 - 15:17 | Link to Comment 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 | Link to Comment DoctoRx
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Another way to play this is to buy Treasuries.

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

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

Mon, 02/04/2013 - 12:14 | Link to Comment Stoploss
Mon, 02/04/2013 - 12:20 | Link to Comment 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 | Link to Comment 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 | Link to Comment IridiumRebel
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Euro Collapse Chart Porn.....
I'll need some time alone.

Mon, 02/04/2013 - 13:21 | Link to Comment rqb1
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Thanks, that was funny

Mon, 02/04/2013 - 12:34 | Link to Comment AbbeBrel
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Rajoy has received the "Dreaded Vote of Confidence" from Merkel.    He is doomed.

Mon, 02/04/2013 - 13:19 | Link to Comment 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 | Link to Comment LongSoupLine
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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 | Link to Comment forwardho
forwardho's picture

Wow, bet that felt good!

Mon, 02/04/2013 - 18:25 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment Caracalla
Caracalla's picture

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

Mon, 02/04/2013 - 13:12 | Link to Comment 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 | Link to Comment 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 | Link to Comment BlueCheeseBandit
BlueCheeseBandit's picture

Now is the winter of our discontent.

Ralph: Oh no! Run!

Mon, 02/04/2013 - 16:46 | Link to Comment 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 | Link to Comment venturen
venturen's picture

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

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