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European Stocks Plunge To Worst Week In 13 Months
European equity markets closed down for the fifth week in a row for the first time since Summer 2011's European crisis. The 3.75% loss on the week in the broad (S&P 500 equivalent) Bloomberg Europe index is the biggest drop in 13 months to close the week unchanged on the year. Italy and Spain were the worst performers - down around 4.5% to 5% on the week - even as sovereign spreads held in only 9bps wider on the week. Europe's VIX surged to 24% - its highest close in 4 months. Greece's problems are emerging once again - smashing the EUR down over 2% in the last 3 days - its worst drop in 11 months as GGBs (and Greek stocks) plunge.
Across the indivisdual indices, things were cosniderably worst...
EURUSD has been crushed down 2% in the last 3 days... as IMF/ERT/Coalition fears arise over Greece and event risk...
The Athens Stock Index dropped 9.5% in thelast 2 days - pretty much the biggest such drop since 2008...
and Greek bonds have seen their biggest 2-day price drop since the bailout...
Charts: Bloomberg
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EUROPE IS FIXED. Fucking believe it.
its cool because Gross thinks bernanke is driving in a FOG - http://hedge.ly/15lbQEm
If you want to make an omelette, you've got to break some eggs...
Finally. Which TBTF blows up next?
Please let it be BAC, Please! It seems like just yesterday when they were trading under $5 and about to implode. WTF happened? (rhetorical)
all 2013 gains already vaporized.
hahahah i still can remember all that enthusiasm at the beginning of the year.
cnbc's money honey got sodomized. lmao
1/4 oz krugerrands sold out at my dealer ... nuff said.
Junk Morgan dollars silver content is about $16.00 +/-. Looked at several dozen individual pieces on eBay the past couple of days; all were selling for upwards of $30.00 a piece.. Reality disconnect from paper SLV...
Spain broke it's trendline going back to September of last year.
OOOPS!
Can I haz more QE pleaze?
mo obamafonz, motha!
Friday Humor courtesy of the folks at The Onion.
http://www.theonion.com/articles/financial-sector-thinks-its-about-ready-to-ruin-wo,32865/
That is one of their better ones.
Agreed. Although it is too true in many ways I was impressed that they managed to throw HFT in there for good measure.
It would be really funny if it wasn't true.
It looks like a ZH Headline, IMO.
Because it IS true!
I wondered what those fuckers were talking about at the G8 on Monday.
Any one else notice the dressed down lack of tie affair? Pre-planned and pre-ordained, just as these insane bastards like it.
Europe is fixed comrades, FORWARD!!!
I don't want to move to Pittsburgh.
But you'll get a free yellow towel to wave over your head!
Take it from somebody who lives here. You certainly don't want to move to Pittsburgh.
We will do whatever it takes, take 2
Looks like its going to cost the BoJ a lot of fresh Yen off the printing presses to keep the market afloat tomorrow as well.
http://nipponmarketblog.wordpress.com/
They get overtime on Saturdays or something?
But Saturday is not a working day
buy the dips
Hmmm, I think I will keep stackin!
PM, Bic Lighters, "Lead", TP, Food, batteries, booze, migrant workers,
Time to ramp it up - USA style!
Ramp up the printer, USA style yes?
as fast sugary fixes go to gloss over the sour/turds/losers of New York banking goes its Benny's only policy option
he dresses it up in an alphabet soup of slippery words
Quantiative Easing Govt Bond Pûrchase Program = 'print' in English
5th week in a row...........so is this the Euro 2013 Crisis?????????
Hubba, hubba, hubba.
I guess this can just keep going on forever.
well we can see the algo's are in charge again, because we hit the lower low and then bounced back.
I cheated, but
1) hft almost always closes the gap, esp on the down side
2)on us stocks it has been a very long time since a break up on the down side
3) if you chart weeksly you can line things up with todays bottom, so it took me (they almost never really get hugely oversold. hft doesn't allow
4) the system is gamed so they can run it up and down to make maximal trading gains, because they have no cost of trading. it's why we need the ftt (tobin tax)
5) I'm sure we will go lower long run, but it's weird becaise I'd think they retest the high
6) yesterday was a hig sigma event, so they have to make up for the screw up. since the flash crash I am willing to bet there is some sort of agreement
we are also outside of the daily bollenger bands, which teh also don't like because once again that is statistically above their projected losses
I'd like to see a real move below that 50 day vwap
sorry my charting off we are below it on sso plus because I use the inverse funds things are messep of for me
One Word:
CONTAGION
it's lookin good guys . . . . look . . . . in . . . . gooood
I thought the EU/EC/ECB/alphabet soup covered cretins of Govt had saved the economy and the bwanker gambling bums ....any minute now they'll ban short selling on all Eurozone stock markets and bend another statistic (reality) not to their liking
"All Is Well.... Don't F'ing Panic!"