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Varoufakis "Containment" Sparks Buying-Panic In Greek Bonds; Silver, Crude Pumped As Dollar Dumps
It appears the 'containment' of Greek FinMin Varoufakis has sparked exuberance in Greek bond markets. 10Y GGB yields are down over 60bps (and 3Y -275bps!) on the news. The machines appear to have decided now is the time to dump dollars en masse.. and that has smashed crude oil and silver prices higher. Stocks have shrugged it off for now...
Greek bonds soar... (yields collapse)
And 3Y is insane...
Dollar dumped...
Which has sent commodities soaring..
Charts: Bloomberg
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Wait...what did I just read? This makes no sense
Welcome to the Twighlight Zone.
silver will have it's knees chopped out from underneath it soon enough. This won't be allowed to go on much longer today. It'll probably finish under 16 by EOD
Would love to know the actual volume of bonds traded. Probably like 6.
Welcome to the last six years. Now shut up, stop thinking, and take this blue pill. Before you leave here I promise, you'll be right as rain.
A haircut is on the way. The Greeks have gathered all cash left in one ginourmous account in their central bank, together with the cash they were to receive (~15 billion euros all) will buy out ECB acquired bonds in the value they were acquired back in 2010. Then they will automagically wipe out the bonds and presto! 150 billion "debt" wiped out. The Greeks are back in 2009, only they have no cash left. Then they bent over. The banks are safe. End of story.
P.S Did I mention the banks are safe?
I have really come to cherish the term "panic buying" it really is the new norm.
PRINT !!!!!!!!
You call THAT dumping the dollar?
http://www.marketwatch.com/investing/index/DXY/charts?symb=DXY&countryco...
Shirley you jest!
Yea, I think the Tylers are making the mountain out the mole hill.
You have to ignore the headlines here anymore.
What dumping? it is going up.
http://www.marketwatch.com/investing/index/DXY/charts?symb=DXY&countryco...
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I'm really starting to get tired of your fucking non-stop blog pimping.
Is there some sort of reason why you have to be such a scumbag?
CLICK-SHIT is the reason.
Japan will look Greecy at some point.
This is all Theater. Varoufakis can now get sacked by Tsipras and be the darling of the Left. He was never going to get anything from the EU short of his complete submission.
Ostensibly "wiser" heads will be brought in to finish the charade. The Greeks are staying in and will be bent over.
I agree. I think the Greeks are just playing for time. Remember, there is a Greek bank run going on right now. Billions in cash is going under matresses. And the ECB is sending truck loads of cash ($70 billion so far) to keep the banks afloat while they try to force a little more money out of Greece. Who is playing who?
That's because the Greeks want to stay in the Euro. If Greeks would support Tsipras/Varoufakis regardless of euro or drachma, they might actually gain something. But they want the raping to continue just for the rapists to be nicer to them, so rapings will continue and the fucking tooth fairy might sprinkle magic dust over their pillows while they sleep so they may wake up and see it was all a bad dream.
ON with the show! Chase that yield! Buy!
OK, the bubble will burst June 3rd, 2015. Why that date? No reason. No logic. Just a guess.
My vote is for sale.
Is Tsipras mad? If they demote Varoufakis, it will look like they are sops to the EU.
Fuck off, you idiot.
SOARing way way up there high, high in the sky. SOARING?!
crude up .25/bbl. and so on...
sensationalism, fucking joke...
No fooling, wake me up when silver has jumped more than a buck or two. Until then all this noise is nothing but that, noise.
You're talking to a click bait machine. Click... cha ching....., click cha ching.........
'dumping' has been newly defined, again. lol
Now, there is nothing NEW to see in the next act of the Tragic Greek Theatre. Predictable and seen before........
No Grexit, no drachma, no rebuild, no turn about example for the world's economic slaves to follow.
Moo-ve along, now ......
ZZzzzzzz
Does it matter if Varoufakis goes or stays?
At the end of the day Greece is still broke and will eventually default.
Varoufakis is not telling them the fairy tales they want to hear.....what a pity that the West is lead by a bunch of incompetents who don't wish to hear the truth, but who would rather have dickless yes-men installed everywhere to please their corporate interests and fat egos above all else.
But we must, simply must, rearrange the deck chairs! You there, conductor, play the music louder. MOAR COWBELL!
its monday
It's over end of June but lots of frights along the way starting next week.
Looks like Greece isn't going to default.
I'm learning to make my own Biodiesel for the Benz, for when prices will be much higher. And the byproducts aren't exactly 'useless' either for the house & garden.
My way of saying "Fat you, KSA!"
Buy greek stocks now. Before you are priced out forever. Retire rich. They are not making anymore stocks. Greek stocks never go down. This time it's really different.