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Greece "Uncontained" - European Bond Yields Are Soaring; Is Portugal Next?
Who's next?
European bond risk is anything but "contained" as GGB 10Y Yields top 18%...
The answer appears to be - Portugal!
Charts: Bloomberg
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I thought Draghii and his flying monkey squadron of Kevins vacummed up all this toxic periphgeral shit a long time ago. Why does it matter now? oops.
Place your bets! Place your bets.
I'm watching the little white ball orbit the roulette wheel and I must say that this is a lot more fun when my money isn't on the table......
EU Bitchezzzz.
Fuck'em.... Fuck'em all.
Spanish, Italian and Portuguese benchmarks still have alot to rise compared to 2012.....but don't fret, in free markets they should be much higher. We just don't have free markets anymore.
Instead we have the ECB manipulating Euro-area bond markets and artifically crushing peripheral bond yields conveniently so it looks contained-ish.
"Soaring"? LOL! What, did the nominal rate actually go positive? LOL! Anyone still remember the 70's?
Apparently not. When the 2 year portugal note hits 4 percent wake me up.... Until then ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ.
Exactly, soaring? I don't think so. These 2 year rates had no business being under 1%, or even 3% for that matter.
this is a new world of ZIRP and even NIRP. doubling rates from 2% to 4% with over 100% debt to GDP and a global recession....defauls ahead (but not in name)
meanwhile, the bill gross trade (short bund) is getting HAMMERED
down 12 bps to 0.65%
kicked out of the "club" again. I have beach property in Corna Del Mar, and I have seen Bill's digs there. I don't worry about this schmuck.
You're a lucky man, Physics:
CDM: Best beach in SoCal.
But I'm looking for something in Bay of Pigs' neighborhood...
Spaiin also a basket case, and I think the people even more volatile than the Greeks maybe?
Hopefully the Troika have their puppets installed.
King Dollar doing its 'godzilla thru tokyo' thing ... again
DXY @ 97
it never gets old does it?
i must admit enjoyment at ALL the "experts" the past year proclaiming the dollar will commence rolling over NOW
all along i thought usd would stay high till europe / china shake out before any roll over ... till then (another year or two) ... deflationary forces in US
China will get interesting. The people running China are even more obsessed with power and control then the rent-seeking Jews running America.
Ever heard the phrase 'Jews of the Orient' directed at the Chinese?
Black Tuesday 1929 returns. Hang in there guys everything will be just fine. JPM doing its magic.
The smart money says Italy - pull away the Renzi populism, and the place is a shambles. Cosmetic fixes, but no deep structural reform.
Please let it be Ireland. My country has the EU's worst case of Stockholm Syndrome I've ever seen.
"kick us again Angela, we love it!"
...but Ireland is BOOMING now, back to the old 'Celtic Tiger' days according to an Irish friend of mine..??
I lived there for many years, in Dublin and in the shticks, in 2000, 2001 the bars, shopping centers and streets were chock-a-block, was back there this year and the bars were dead in the week, even on a friday night I managed to get a seat in a bar in Templebar...that certainly isn't a sign of a country that's BOOMING.
The way Ireland rolls over at the word of the EU or U.S.A would have Michael Collins turning in his grave.
A once great nation, gone the way of so many others.
Escape from NY was on this weekend, a boss movie. Coming soon to a reality near you!
As long as Ireland can keep the <5% actual rate of tax for multinational corporations we'll be grand.
Arrest George Bush Sr. for conspiracy to create a NWO.
When Greece leaves Euro-PIGS, we will be left with Euro-PIS.
I've heard that there's 2 pitchforks for every citizen in Spain. That's a lot of excess just sitting around waiting to be put to use.