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Europe Exuberant At US Government Shutdown
Berlusconi's bye-bye (and hope from Draghi) seems to have trumped all else as European macro data continues to slide but stocks and sovereign bonds surge higher amid the US turbulence. EUR jumped 0.65% on the week as it seems anxiety sent hot money into the highest beta muppetry in Europe. Greek stocks +3.6% on the week, Italian stocks +3.7%, Spain +2%... Germany -0.6%. Bunds bid - outperforming Treasuries by 4bps on the week but the "safe havens" of Portugal (-50bps - the 3rd best week of the year), Spain (-21bps), and Italy (-20bps) saw heavy bids. Amid all this exuberance, Europe's VIX rose 16% to 19.6%.
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Bond vigilantes finally coming to the U.S.S.A.?
Optimistic I know.
>> Bond vigilantes
I'm giving it one more year, then I'll throw in the doomer towel. Piss on it, don't fight the fed.
They've turned on the VIX compression algos today (that were temporary turned off yesterday as per WH request).
Yes, all's well all over the world.
http://www.youtube.com/watch?v=9nhRViM02Mk
If every government in the world would shut down, that would mean moar money for the 1% to put into all stock indices. The S&P would be at 2000 within a matter of a few weeks. Those with "Dow 30,000" hats would finally have a reason to don said caps.
All would be (even moar) splendid in One-Percent Land.
Apparently, Deutsche Bank is getting a lot of calls from their big clients asking what happens to their money if the US defaults... Lulz.
In other very interesting news...
http://rt.com/news/syria-sarin-saudi-provocation-736/
Saudi black op team behind Damascus chem weapons attack – diplomatic sourcesWell duh. That's what civilians on the ground were saying! Even parents of REBELS...
Get them rates up Bond vigilantes! Bet against the debt. The Fed is bent on QE forever or until the US dollar dies.
So the crashing of the FRN will be good for European Company sales and exports. EUR/USD will keep ramping up to 1.40 Good Times for all.
I'd like to know who actually believes that in 10 years 2.6% will be worth it?
It looks like there's a lot of money to be made off our misfortune:
http://www.zdnet.com/in/obamacare-could-mean-boom-in-biz-for-indian-outsourcing-companies-7000021504/
Was just goin to ask how that shutdown is working out for you overthere but never mind, it seems to work for us.
The U.S. markets are just as "mentally deficient". PPT must keep (ES) above the 50day average at all costs.
http://imageshack.com/scaled/large/706/qo87.png
I need to study the greater fool theory, in depth.
Just go visit some of the message boards at Yahoo Finance (if you dare). The experience may leave you feeling a bit disturbed, but confident that the supply side rules on this.
RAMP the FUCKER Bernanke.....RAMP that FUCKER Draghi..........
The COLLAPSE is going to be BEAUTIFUL.........'beautiful de-leveraging' will transition into "beautiful Blood in the STREETS"!!! I want to see GS,JPM,C,MS,DB,BNP....COLLAPSE into a steming pile of thieving SHIT!
This is really sickening...
"It's never been better!"
WTF is going on here? Can anything stop this insanity?
Can't wait for a series of really bad macroeconomic indicators to hit the la-la fuckers who are long this market... Fat chance, I know.
I believe that using the word "exhuberent" in the headline of this post is an exaggeration. But what is clear is that the US status as a safe haven has been severely damaged by the congressional vaudville show.