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Weak Close Leaves European Stocks Red Year-To-Date

Tyler Durden's picture




 

The last few days in Europe have been marked by a bounce off the post-FOMC plunge lows (just as in the US) but today's weak close in all the highest-beta most-levered momo trades suggests things are not done with yet. As the following two charts show, once the 'taper' uncertainty began (and US Treasuries started to leak), Europe has been (almost) a one-way street worse...

 

 

and European banks remain stuck at 10-month lows...

 

Charts: Bloomberg

 

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Fri, 06/28/2013 - 11:47 | 3703477 NoDebt
NoDebt's picture

Surprising they did as well as that.

Fri, 06/28/2013 - 12:05 | 3703509 Harlequin001
Harlequin001's picture

Bullish...

Fri, 06/28/2013 - 12:10 | 3703521 slaughterer
slaughterer's picture

NEXT MOVE ===> ES 1550.

Fri, 06/28/2013 - 13:09 | 3703715 walküre
walküre's picture

We're not going to make a double top before the next substantial leg down. Time to short this puppy EOD.

Fri, 06/28/2013 - 11:47 | 3703478 Jim in MN
Jim in MN's picture

Ich bin eine Roadkillmuppeten.

Fri, 06/28/2013 - 11:55 | 3703495 ohhhhhbaaaaahhh...
ohhhhhbaaaaahhhhhhhhhmaaaaaahhhhh's picture

Ich bin laden.

Fri, 06/28/2013 - 11:49 | 3703481 sudzee
sudzee's picture

The EU didn't agree on bail-in legislation and give people time to GTFO. This weekend could be interesting.

Fri, 06/28/2013 - 11:51 | 3703487 Yellowhoard
Yellowhoard's picture

Hey Tyler's, this is an interesting story.

Maybe you guys could look into?

http://www.activistpost.com/2013/06/whistleblower-reveals-world-bank.html

Fri, 06/28/2013 - 12:20 | 3703562 g speed
g speed's picture

E Holder--arch criminal  ---where is Batman when you need him?

Fri, 06/28/2013 - 13:17 | 3703750 walküre
walküre's picture

Not sure if true. World Bank supposedly receives a royalty from every barrel of oil sold in the world. Somehow the funding for World Bank is directly tied to the production of the single most important commodity. Now we pay carbon taxes. Where do those funds flow exactly? Nobody responsible for the collection of those taxes knows exactly. World Bank is a behemoth to enslave the people across the globe. New World Order is in full swing.

Fri, 06/28/2013 - 11:53 | 3703490 Midasking
Midasking's picture

They could just mint a trillion dollar Euro Coin or pretend aliens are coming and be out of this mess in 18 months. http://tinyurl.com/qhxpkyn

Fri, 06/28/2013 - 12:13 | 3703504 MassDecep
MassDecep's picture

Let's see...The Fed is ECB's primary source of fiat....

Make's sense

Fri, 06/28/2013 - 12:06 | 3703513 Temporalist
Temporalist's picture

Everything is going to be fine as after 7+ years of recession/depression the kleptocrats are on the case...

EU 'first step' to help Europe's jobless youths

"The BBC's Matthew Price says the money will be used to help people in the first four months of unemployment

EU leaders have ended their summit in Brussels by agreeing to put 6bn euros (£5bn; $8bn) into youth training schemes amid record unemployment.

They also agreed to promote lending to credit-starved small businesses, using an extra 10bn euros in funding.

Nearly a quarter of jobseekers aged 18 to 25 in the EU have no work."

http://www.bbc.co.uk/news/world-europe-23095198#sa-ns_mchannel=rss&ns_so...

Fri, 06/28/2013 - 12:10 | 3703518 SheepDog-One
SheepDog-One's picture

And US stawk pumpers jumped on the Europe close faster than a pit bull on a toddler to ramp it all back to green.

Fri, 06/28/2013 - 12:09 | 3703520 disabledvet
disabledvet's picture

just my view but i fail to see how "two speed Europe" is sustainable. this is especially true give the size of Germany relative to her "competitors." great for Wall Street and New York City banks of course. We'll see if Citigroup wants to hang around the Party though. they've always had a more "Eastern" bent.

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