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Did S&P Just Telegraph An Imminent French Downgrade?
Just hitting the tape are these quite perplexing headlines out of Bloomberg:
- EFSF LENDING CAPACITY MAY DROP TO EU293 BLN, CULLINAN SAYS
- EURO RESCUE FUND'S CAPACITY MAY FALL BY A THIRD, CULLINAN SAYS
- EURO RESCUE FUND MAY SHRINK ON FRANCE DOWNGRADE, CULLINAN SAYS
- S&P SOVEREIGN RATINGS DIRECTOR CULLINAN COMMENTS IN E-MAIL
Odd - because it is S&P who would be doing the downgrading. Cue downgrade rumors.
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Boom!
That French CDS play starts to make sense right about now. BAC, your insider trading tactics might just keep you unflushed for the time being...
the market is a battlefield and every body cheats. The invisible hand belongs to the guy who has two left hands. Useful that!
Left handed gun and cross handed on other holster!
Ze glufs, zey are coming offf!
En guard! We are in the doldrums starting today through Christ-Mass. I think it's the week of the 27th that will rock the world. Now, just when everyone is going for the holy-days, bad news will hit the pipe, build the pressure. A mad end to 2011 perhaps, to launch into Maya time.
Perhaps this year, the grinch is REALLY planning to steal Christ-Mass.
ori
/an-opportunity-and-a-golden-warning/
Ori when is diwali, its a nice festival? ANd Holi...both are fun. lights and paints in all colours.
Not anymore Falak. Nowadays it is about toxic colours on holi and sweets sold en masse with spurious ingredients. And Diwali, emergency rooms fill with blindness and burns, predictable, like clockwork, thousands every year. Imagine a lawless nation having poorly imposed limits on explosives, free reign for a week. Some of the "Bombs" that go off on street corners shake the window panes in my house. And it goes on for a week. And all Indian dogs are slightly deaf as a result of Diwali being an integral part of their human comingled existence.
It's pretty and nice on National Geographic. :-)
ori
Diwali is normally around Oct - Nov. Seeing as I'm not Indian and don't celebrate Holi - can't tell you anything about that.
Not if the ISDA has anything to say about it....which apparently they do.
Just do it already
Not their style. They like the foreplay.
Downgrade is the new normal
Music to a rapists ears, no means yes
Pommes frites
With a little Freedom Dressing on the side for dipping.
I fucking love freedom.
Freedom addict.....sounds like you are not free in this freedom hating world.
No reaction in EUR/USD yet though.
Them HFT-robots cannot digest multi-line combinations ;-)
Downgrade is the new Upgrade! Merde is the new shit!
merde is shit...
i heard that the french, adore no-name cheese and wine that's packaged in boxes! just turn that little spigot, and it's party time!
Vive le robinet!
Sacrebleu!
There's a whisper rumor that both France & the U.K. were burned to the ground, and each is accusing the other of doing it for the CDS.
[Iceland is happily chugging along, not a care in the world. They'll feast on suckling pigs & the finest meats and cheeses for Christmas]
Icelanders are terrorists!
Velveeta and Mad Dog Peach.
With Butternut bread down by the beach.
Hawt quizine that can't be beat
Mone cherry, Bone Appiteat.
Hey, why not lets go off topic:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/12/21_L...
The article contents the central banks are letting go of gold in a desparate effort to control prices. I always thought it was a "smart" move for them because if we ever go back on a gold standard, the central banks will just get their governments to order the present buyers to sell it back at whatever price they want.
But if its going to China that wont work. On the other hand, maybe this is some kind of Quid Pro Quo (probably spelled that wrong) where in exchange for continuing to play along, the Chinese are allowed to have significantly more gold.
Also, I get suspicious whenever an anonymous trader offers me so much highly specific free advice. But whatever, at least its interesting
Bingo. Central banks are cooperating, and China needs a lot more gold. So they all kick the can and ensure China gets what it needs to stay in business. How long can this continue? It doesn't look like we will make it through next year.
Just friggen downgrade them. The market already did.
that's debatable. maybe the French bond market has it priced it, but I don't think all the implications have been priced, e.g. banks/investors posting French bonds as collateral.
http://www.redicecreations.com/specialreports/2005/08aug/redshield.html
http://www.youtube.com/watch?v=lu_VqX6J93k
The Creature from Jekyll Island video...where you money came from...a great video must watch
Look at IBM, Dow only component is dropping like rock. This has been leaked long time ago.
IBM has a very interesting history building databases for the US and Nazi German governments...
And here I thought IBM was dropping like a rock because a certain senile old man looked around table and realized the sucker was him.
That senile old man is a puppet, a sick sadistic twisted one but a puppet nonetheless...a bagman, a yesman, a front man etc.
must be why the euro and es suddendly moved up
This downgade has been "imminent" for the last three months
two weeks but who's counting...
The Brits
<=== fringeJacket4tyler?#1
<=== ditto?#2
vote now, BiCheZ!
Probably delaid to have Bernanke's approval.
Delaid? Is that how you get your virginity back?
Many of us knew this was "imminent" for the last 10 years, since the euro was launched.
Dont exaggerate. Make it nine years - just to be nice ;-)
Cue in 1.
We had 3, 2 for way long enough already - fukitol!
Le downgrade.
Le Royal downgrade.
Dand le cul les francais
Dans i should no better im french
Up your ass, French.
T'es un français de France ou du Québec?
Is that why E/U just spiked?
The new cover-all excuse from TPTB: We did it to protect you
BAC is gonna get ass reamed if they are long French CDS. The market expectations for a downgrade are more than baked into the spreads, which are trading like a weak BBB.
New normal: You downgrade me? I downgrade you!
2 or 1 sir that is the question.
I think Friday night sounds like a good time. Christmas Eve Eve.
If they're waiting for "holiday markets" thinking that it will somehow be less of a disruption and less noticed they will find the opposite is the case. Thin bids/offers everywhere this time of year, a little bit of size will go a LONG way over the next week and a half. May as well leave it until Jan at this point.
There won't be a downgrade in 2011...
care to share?
I bet (but not w/ currency) that S&P will do it 23rd after europe close ;->>>
"Happy Xmas, Sarkozy, ya dork!"
Portugal - under the radar!!!! The dominos keep dropping .... insights from anyone appreciated as always
Portugal's Treasury and Government Debt Agency, IGCP, said Friday it decided not to proceed with the three-month Treasury bill auction scheduled for Dec. 21.
The Treasury hasn't given any further details to its decision.
Portugal doesn't have any more scheduled Treasury bill auctions this year.
One analyst, speaking on condition of anonymity, said: "They [Portugal] are actually fine with what they have raised, while liquidity may be 'non-existent' next week," just before Christmas.
Portugal sought to sell between EUR4.250 billion and EUR7.5 billion in Treasury bills in the fourth quarter and it actually raised EUR5.6 billion.
-By Emese Bartha, Dow Jones Newswires, +49 69 2972 5516
They got their 2.9bn tranche 3 days ago. IMF today says they may need to relax terms but don't expect 2nd bailout. Good luck
The banksta just wants to get paid
That money is how he get's laid
his bonus was hard
then turned to lard
when heard about Frenchy's downgrade
can't believe I didn't use merde instead of lard. My inspiration is the Limerick King, got to get a picture of Kris Swindle.
Doing in it early 12 would be just as bad. Cool week likely the week after Christmas. Not so much after the 1st.
Markets move up as S&P delays downgrade by posting further warnings?
Am I close?
hey, S_R, you left out santa!
the market is responding to the wonderful control the banksters appear to have gained over the "markets", at least for now, while nobody wants to make any decisions about anything
i think the elves have epoxied the EUR/USD to 1.30 as the ornament to evoke the spirit of christmasPresent as they ready rudolph's harness for the bombardment of gifts from the flying sleigh in the sky which is under registry at the rogue state of northPole where banks are irrelevant for certain kinds of industry
this is the kinda priiize stabeeeletee which the lucky europeons may get to enjoy for perhaps two more weeks m/l
banksters to S&P: not yet!
reverse: when?
inverse: same as last time you asked~~when we say so
converse: but, we have to keep up-dating all the data for the report! and the fuking financial press is pressuring us for news on behalf of the fringe bloggerz! what's taking so long? hello...hello...
and down goes the USD. this market is beyond FUCKED UP
With the CAC40 having an intra day swing of 100 points and the DAX having a swing of 190 points today the boat is really rocking. And look at those BTPs. The triangle chart patterns for Euro stock indexs look primed for volatility. Sea sickness with pukey flash crash dead ahead?
apparently that was bullish, SP just rallied 50 points in matter of minutes.
There is an interesting selloff right now in Treasuries 20Y+
Downgrade of America then?
If they downgrade, It's over.
Why do I get the feeling that the few working days between Xmas and NuYears is gonna be an ongoing blood bath?
Nobody trades those days. TPTB will use the low volume to repair the damage to their kick the can game.
These huge irrational spikes would be a signal in most Chemistry, Physics as well as Economic professions of a system gaining entropy or chaos and losing control...
XLF now down almost 1/3 of 1%!!!
It was priced in yesterday. Get long { Less than } < pleasant news! /sarc on
I would say internally S&P downgraded France awhile ago. Politian’s are promising reprisal should S&P release the report.
How do you even downgrade a completely fraudulent fiat debt ponzi charade?
Downgrade gives an endorsement that the charade is still worth something! It's absolutely worthless!
This just in, Chuck Norris downgrades Europe, seen heading back across the pond. Panic in NY.
A Frenchman went to the lavatory,
To enjoy a jolly good shit;
He took his coat and trousers off,
So that he could revel in it;
But when he reached for the paper,
He found that someone had been there before
Ou est le papier, ou est le papier;
Monsieur, monsieur, j'ai fait 'manure';
Ou est le papier!
Sums up France at the moment.
The indications of a French downgrade keep popping up. They just won't go away. I suspect that it's pressure on Sarkozy to get on the phone. Unless Germany can be persuaded to allow the ECB to issue Eurobonds, the pressure will continue.
http://georgesblogforum.wordpress.com/2011/11/02/the-daily-climb-2/
I wouldn't be surprised to see the /ES close near 1250 today.
Lure in the lemmings before the freefall.
I like you!
when it finaly becomes real, everyone will be laughing and no one would take it seriously. until they do
My new icon - it will be appropriate for a while!
Looks like France's efforts to deflect attention to the UK paid off:
http://www.ft.com/intl/cms/s/0/0a42e062-2b3a-11e1-a9e4-00144feabdc0.html#axzz1hDyg4ITH