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Euro Surges On Optimism Cyprus To Be "Fixed" In Hours
EURUSD (and implicitly the algo-connected S&P 500 futures market) is surging on the basis of optimism (for the new 'deposit tax plan') from the head of the party that abstained from the previous 'deposit haircut vote'.
- *CYPRUS'S NEOFYTOU SAYS SITUATION IS DIFFICULT
- *CYPRUS'S NEOFYTOU EXPRESSES CAUTIOUS OPTIMISM
It seems 'cautious optimism' is contagious but the irony of this politician's two-faced hypocrisy driving any market reaction is mind-numbing. EUR has broken above 1.30, Italian and Spanish bonds are rallying, and Italian stocks are now green for the week.
President Nicos Anastasiades' ruling DISI party has said a solution satisfactory to the troika may be possible within hours. Speaking to reporters, deputy leader Averof Neophytou said: There is cautious optimism that in the next few hours we may be able to reach an agreed platform so parliament can approve these specific measures which will be consistent with the approach, the framework and the targets agreed at the last Eurogroup.
Charts: Bloomberg
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Buy the mushroom cloud.
What are the Texans upto ? Buying their own gold.
http://finance.yahoo.com/blogs/daily-ticker/texas-may-start-hoarding-gol...
Effin Cypridiots.....Why don't they just offer to exchange shares in a national gas company for 10% of their deposits.
They not only get the Germans/EU off their back, but they've managed to convert crap paper into a hard asset.
Oh Please!
Just wash, rince, recycle...all banks
Cyprus, From "Door mat of the outhouse" to "Toilet seat of the kings".
Perry is determined to be the President of Texas because he couldn't be president of USA.
We're gonna take EVERY SINGLE BUISNESS...........................
Guys look! Here comes Jesus on a unicorn!
Is he sitting on the saddle or on the horn?
He's wearing the Golden Fleece and holding the goose that lays golden eggs...everyone is rich beeotchez!
WTFWJDFAKB
At this point, I believe a worldwide nuclear war would send the DJIA to 30000. Just think of all the vaporized windows!
Wow - what is this - the fifth or fiftieth plan to "save" Cyprus since Saturday?
And this is what financial markets are made of?
cyprus doesn't matter remember....according to fink....so it must be something else moving the markets like a roaring global economy /s
And I believe that Reggie Love and Obama just hold hands.
OBEY!!! http://cdn1.spiegel.de/images/image-476448-breitwandaufmacher-rsom.jpg
Yes I can!!! http://www.tagesanzeiger.ch/ausland/naher-osten-und-afrika/Obama-facht-d...
Great pic! I think a more appropriate caption is "I find your lack of faith disturbing."
Stolper is wetting and shitting himself.
No he isn't. He raped the muppets and the squid made off just fine thank you......
nothing like putting a band-aid on a shotgun wound
http://business.financialpost.com/2013/03/21/canadian-bitcoin-house-for-...
As long as he's diversified in other things I think it's fantastic.
All this madness over some shitty pieces of paper...the whole world has gone insane.
I think we're talking "fixed" in the veterinarial sense...
Perhaps it's the veneral sense as in "I had herpes once but it got fixed."
or at least venerial
The new backup plan is all Cypriots are to sell one organ.
Don't give these f*ckers any more ideas, please.
Fer sure, their already repossessing balls
So I take it the 'talks break down' news will be announced at 4:01 ET.
Oh come on now. Such a scenario would lead to rumours that the markets are fixed and some engaged in insider trading.
"Fixed" like a junkie gets a fix.
High Grade Hopium being mainlined over there.
been sitting on my hands all week...are we crazy for knowing that this can only end poorly? sometimes i wonder if i've become stuck in my EU crisis obsessed mind...just dont see a can for them to kick this time
SELL THE NEWS and short the market 100%
As if they would make it easy to trade the Euro's end
The lowest volume pump I've seen on the ES. After an hour I still see no volume bar on the hourly chart. Fuck you Bernanke.
Just one question. Has anyone thought what may happen when the banks reopen? Or will they never reopen??
No one knows...but all is WELL!!
my best guess is that when they reopen it's quite bullish. but if for some reason they never reopen, then i'll be turning bullish .
the Germans need the weaker euro members to keep the Euro cheap-otherwise the Euro would rip higher and the Germans-being an exporter-would be screwed
We have already seen this movie.
@Seasmoke
Every day, all day. They have inventory to offload, so ramp it they must. Ramp and sell! Ramp and sell! The bucket shop is taking on water! Bail, lads! Bail with all your might! Ramp and sell!
Agreed platform? Who's gallos are being built for a hanging?
Are we hanging winos now, or just whiners?
Cyprus supermarkets running out of food because suppliers demanding cash.
This should end well.
The whole world can be supported by fake rumors of optimism alone!! In fact, it's BETTER than an actual economy! I'm all 'OMG'!
Yea sure...
Neophytou, apart from having a leading name, is full of "cautious" optimism.
Tea for two..?
Neo, you for me too?
Neo nefretiti nose?
Its the long and short of poetry in prose.
Pinocchio and pokemon.
As look closer at the rainbows, unicorns and skittles I discover the unicorn is nothing more than a jackass covered in white ceiling paint with a toilet paper tube glued it's forehead, those rainbows are just chemtrail fart smoke blowing out the unicorn's ass and the skittles are painted jackass droppings.
@Dewey Cheatum Howe
LOL. Sobriety will do that to you. Obama prescribes one whiskey, one bourbon and one beer for you.
And Biden prescribes a shotgun
My dog was excited before he got "fixed" too.
YEA he thought he heard you say he was gonna get 'tutored'.
Has Stolper been stopped out yet?
Swedish auto maker Volvo has uncovered widespread cheating by its car dealers in China, where retailers inflated sales to win cash rebates from the company for hitting volume targets.
Right. Some guy working in the basement of Cyprus finance ministry says he is cautiously optimistic that the Cyprus bailout could be agreed on, and the whole world over runs to buy Italian and Spanish bonds as if they were mithril.
Very sound markets. Very sound...
The smell of napalm in the morning ...
Ok so the Russians Neophyte Neofytou to fuck off, and now the Cypriot brain trust is back talking to the ECB dbags (LaGrade is geting fisted by a Parisian transgender on orders from the Cartel).
So the Russians have told the ECB NOT to fuck them on the hair cut (10% is acceptable), and giventhat the Russins will not bail out the Cypriots...AND the Russians will continue the flow of Nat Gas to Europe. So Cyprus becomes Greece overnight.....and crisis is papered over again...
S&P is ready for another ramp....Bernanke begins to tout US Housng stocks...blow bubble blow....
Denial ain't just a S&P 500 buying algo.
Putting Cyprus items up on ebay and Craig's List is plan XX.
LOL someone just logged in and down arrowed everyone.
Up arrow for Krugman
Down arrow for Merkel
and just reply with Fuck You Bernanke if you want...
That happened a few days ago. I thought, "Who would downvote that?". Then I saw every comment had a down arrow and laughed.
Like down arrows will kill everyone on Zero Hedge.
Must be Krugman thinking we are in Kindergarten. I'll call him a poo poo head and he'll go cry in the corner and we'll never see him on the playground again.
I don't give a shit anymore. I've had people yell, "Hey asshole" and I've turned and said, "Yes, what?"
CNBC has just down voted all comments on ZH...people are watching ZH and not CNBC commercials.
Welcome to today's markets, where hints of rumors are as fundamental as it gets.
I hope no one in Spain heard about that Cypriot pensioner who was taking her money out of her account every Friday afternoon. It might give them some ideas about what to do this afternoon.
All that's left to decide is who's money to steal and how much should be stolen from each person.
late friday news ramp in mid morning-- there's an inverse [classical adverse?] functionality at play... this won't bode well into the close?
jmo
Nothing will be fixed, like usual, but they will say it is fixed, like usual, and we will move on to 1700 S&P and Dow 26k.
The Nasdaq has quite a way to go to smash its old record.
Perhaps they can sweep the bad stuff under the rug for at least six months before somebody moves the couch and it appears again.
Real economy be damned. 99.9% of the population be damned, that .1% has got to see 50% gains this year. Bunny needs a new 100 carat diamond necklace.
It will not end until the street runs red with banker blood. They are pretty much daring us to do it. In fact they have skipped the double dog dare and gone straight for the triple.
They see hundreds of people waiting in line to take out a couple hundred euros, instead of seeing hundreds of people with torches burning down the banks. They know they have won.
You are watching a master play with his opponent, giving him the notion he can still win, while the game has already been won for a long time. Asset confiscation is checkmate, they aren't ready to flip the board yet.
Would love to know the reason behind the person who gave the down arrow to this comment. (I am the Up arrow :)
There is no greater euphoria than that of a compulsive gambler's face after he just hit a $1,000 jackpot, even if he is still down $10,000 for the day.
Remember, you can never lose as long as you win.
Yeah, you may have bought Netflix at $297 a share, BUT YOU ARE UP 230% IN THE LAST SIX MONTHS. Fuck, that is amazing.
There's certainly one angry red arrow monkey lurking this morning.
That was fast.
Because there has been no bad economic or political news out of Europe at all in the last month lol!
Euro, Italian/Spanish bonds, Italian Stock market are rallying because THEY WANT IT THAT WAY.. question is how much money do these dudes have to spend?
I'm sure the situation will decline......starting at 4:02pm.
Gotta leave the market on a high note!