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As Euro Bank Pukefest Resumes, Goldman's Sigma X Lights The Way

Tyler Durden's picture




 

Intesa may be halted for trading on the MIB, but that sure doesn't mean that Goldman's Sigma X clients are prohibited from dumping their shares on the hedge fund's dark pool, which incidentally is always happy to accept and match client orders. Sure enough, as the puke fest in European banks resumes (and both Italy and German CDS are now materially wider on the day, the Italian 2-Year Note yield rising 30 bps to 3.95%, and the 10-Year up 20 to 5.60%), the top traded names on Goldman's dark pool once again is the who's who of insolvent European banks, starting with Italy, passing through the UK and rounding up the top 5 with Germany. But, but, the second European bailout was supposed to work? What happened? 

 

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Mon, 07/25/2011 - 10:10 | 1490321 oogs66
oogs66's picture

the Euphoria in Europe is fading already.  this plan will not fix Europe and people already realize it....in meantime, some idiot will try and ramp on the inevitable u.s. debt ceiling deal, but that has now gone on so long, the only outcome is long term downgrades and lack of faith in the u.s.

Mon, 07/25/2011 - 10:10 | 1490322 Manzilla
Manzilla's picture

Is there any way one can see the Sigma X info with out BLoomberg? Thanks for showing this Tyler, it's great to know.

Mon, 07/25/2011 - 10:11 | 1490323 Zero Govt
Zero Govt's picture

 

"Pukefest"  ...new word (?).. i like it

Mon, 07/25/2011 - 10:25 | 1490363 EnglishMajor
EnglishMajor's picture

The next stage is a complete and total Barforama.

Mon, 07/25/2011 - 11:08 | 1490430 hedgeless_horseman
hedgeless_horseman's picture

A complete and total Barf-O-Rama...

http://www.youtube.com/watch?v=9S7kg1IhZ7M

Mon, 07/25/2011 - 10:23 | 1490334 hedgeless_horseman
hedgeless_horseman's picture

RIM cutting 10% or workforce; down -55.5% YTD.  Leo, are you ok little buddy?  You aren't still long Hellenic bonds and long RIM are you?

Mon, 07/25/2011 - 10:39 | 1490406 GeneMarchbanks
GeneMarchbanks's picture

Have you read his latest? He is now fully geared for the Land of The Delusional:

'Take it from a guy who has had MS for the last 14 years, Nietzsche was right: what doesn't kill you, makes you stronger. I've been fired a few times (all on flimsy grounds where I could have sued their pants off), been through a divorce, ups and downs on the health front and with personal and professional relationships, but I now realize there is absolutely nothing you can't do if you put your mind to it.'

Clutching at Nietzsche!? The last gasp of the impotent and batshit.

Mon, 07/25/2011 - 16:16 | 1491888 Diogenes
Diogenes's picture

It was the spirochetes talking. Nothing killed them, they grew stronger and stronger, until they landed Nietzche in an asylum and finally killed him.

With humans what doesnt kill you fucks you up for the rest of your life.

Mon, 07/25/2011 - 10:16 | 1490335 the not so migh...
the not so mighty maximiza's picture

In college we always puked for distance.  They are wasting allot of puke.

Mon, 07/25/2011 - 10:17 | 1490336 Sudden Debt
Sudden Debt's picture

Dexia down 7%!

Better keep a close eye on that one because if he pukes and rolls over, a lot of French and Belgium banks will follow suit.

 

Mon, 07/25/2011 - 10:22 | 1490349 Zero Govt
Zero Govt's picture

yes and Soc-Gen shares down 5% too ...now all we need is Eric Cantona to get on his soapbox again and it'll be French bank Insolvencyfest!!

Mon, 07/25/2011 - 10:26 | 1490365 Sudden Debt
Sudden Debt's picture

Yep!

I bet those 2 will steal the show in the comming weeks.

 

Mon, 07/25/2011 - 10:20 | 1490345 kaiten
kaiten's picture

The new EFSF is not operational, yet. You´ll have to wait for few months to see its impact.

Mon, 07/25/2011 - 10:27 | 1490367 oogs66
oogs66's picture

unlikely to ever be operational

Mon, 07/25/2011 - 10:21 | 1490350 jmcadg
jmcadg's picture

Good to see strong UK representation 4 Main Banks and 4 (I think they're UK) High Profile companies.

We haven't done this well in the charts since The Beatles!

Get it done, bring on the slaughter. 

Surely the only reason the Euro is at 1.43+ is because sights are still on the US. Otherwise it would have been BANG!

Wouldn't it?

Mon, 07/25/2011 - 10:21 | 1490351 mynhair
mynhair's picture

The USA is losing the race to the bottom today?  Damn horses.

Mon, 07/25/2011 - 10:24 | 1490360 hedgeless_horseman
hedgeless_horseman's picture

The fix is in.

Mon, 07/25/2011 - 10:32 | 1490362 Zero Govt
Zero Govt's picture

with morons like Timmay, Benny and Obumma as your jockeys i wouldn't write-off the US yet!

remember the Europeans are used to fighting in the trenches gritting it out when they're under severe pressure... the Yanks prefer lucky shootin' from Helis' or firing drones from behind desks in DC and not so sure they've got the stomach to hold on by your fingernails in the final stretch

Mon, 07/25/2011 - 10:26 | 1490364 AustrianEconomist
AustrianEconomist's picture

A downgrade is a must if the rating system is not a complete fraud already. The US should be a CCC rating just above junk because that is reality. There is no way for the US to make any significant budget cuts, the US is bankrupt, end of story.

Check out the latest from the Capital Research Institute (CRI):

The Financial System - A House of Cards

Mon, 07/25/2011 - 12:54 | 1490986 irishlink
irishlink's picture

Totall chaos over here in Europe. We cannot figure who are the debtors or creditors anymore. Bring back Madoff as he is probably the only guy who can explain this fiasco. How can Italy and Spain be lined up behind Germany and France to bailout themselves? Nuts 

Tue, 08/23/2011 - 23:20 | 1593494 karmete
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