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Euro Jumps As S&P Leaks It Has Not Leaked An Imminent French Downgrade
With speculation building up all morning that the French AAA rating will be momentarily gone, following a statement by France's Juppe that the loss of AAA would not be "cataclysmic", it was up to the S&P itself to leak the rumor which unleaked the previous rumor, and told the WSJ that it has not informed the French government of its rating intentions. The result: EURUSD soars by 40 pips on this absolute non-news, which does nothing but buy at best a 24 hours respite from the inevitable. Furthermore, the S&P has no statement at all if and how many Congressmen, and Nancy Pelosi of course, do know what S&P's intentions are and are already trading appropriately. We expect this momentary bump in risk to be unwound in seconds.
And the report from Dow Jones:
The French government hasn't been informed of an imminent ratings
downgrade by Standard & Poor's Ratings Services, a French official
said Wednesday.
Speaking on condition of anonymity, the official said
that the intentions of S&P regarding France's credit rating are
unknown to the government at this stage. He insisted that there was no
reason that investors would doubt France's ability to service its debt.
S&P typically gives a government 12 hours notice ahead of a change in its ratings.
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Already down! Retraced approx 50% in a few minutes. That'll burn some FX traders...
We're going much lower on EURUSD methinks... watch out below! We need something like hypnotoad instead of the deer today. Market is zombies to rumor: http://www.youtube.com/watch?v=8AOfbnGkuGc
I like her better...HypnoCallista Gingrich (wife #3):
http://callistagingrichpeckedoutmyeyes.com/callista.gif
That is awesome! Never seen it before - THANKS! +1
+1 if you think Joe Weasel-thal of BI would pimp his grandmother/Bubbeh if it would buy even a one minute rally in the spooz.
*Weasel-thal is the biggest minor league whore for the Zimbabwefication of U.S. equities (with the biggest major league whores being Andrew Ross-Sorkin, Michelle Big-Caboosa Cabrera & Warren 'B Quick Becky & Thanks Uncle Sucker' Buffett).
I disagree. Joe is major league.
We just can't wait for the rating agencies to tell us that a country whose CDS has been trading wider than the BBB spectrum is not AAA rated anymore.
Wall Street Amusement Park Physics
Design a Roller Coaster
http://www.learner.org/interactives/parkphysics/coaster/
Nah, the manipulators want green, they want to bring holiday cheer just like Santa.
I thought it was a French politician who told the WSJ the S&P hasn't informed them what their intentions are. Nothing was said by the S&P as far as I can tell.
Headline: "Euro explodes on rumors that France isn't fucked quite yet"
France says "Mon dieu! We don't get fooked, we do zee fooking!"
helicopter ben summoned to the hill, what year did that happen last?
source?
too much leverage is built on top of French AAA debt-collateral. when it gets downgraded, ka-boom. rehypothecation bomb daisy chain.
sell to survive.
Don't leak on the electric fence
... unless you want to join the 'Glowworm Club'!
EZ rumor needed to come out early today, and it did. EZ needs just one more rumor (EZ rumor squared) to create a short dash for cover.
http://www.businessinsider.com/credit-agricole-layoffs-2011-12#comment-4...
GERMANY DOWNGRADED BY PETERSSEN
S&P and the other rating agencies are about as independent as the federal reserve
!viagra!
!stoly!
!viagra!
!stoly!
!viagra!
!stoly!
pretty soon someone's wang is not going to respond linearly.
ya think?
Just in time to justify an oversold intraday bounce in risk assets.
Was this about two guys wearing berets smoking a Gitanes leaning up against a wall in Aix-en-Provence talking about sovereign debt in the resistance in WWII?
Meanwhile...is not the US tax code great...
"General Electric (GE) should benefit from a negative tax rate in the fourth quarter at GE Capital Services, which could add an additional 2 cents to earnings, writes Vertical Research Partners analyst Jeff Sprague today."
http://blogs.barrons.com/stockstowatchtoday/2011/12/14/general-electric-...
Pretty soon there will be a whole bunch of companies "benefiting" from a negative tax rate
It's like shooting at a half dead man, you put it up so that you can shoot it again.
Phew, all fixed! Bullish!
12-14 11:25: PELOSI SAYS THIS IS THE KIND OF RUMOR THAT NEEDS TO BE TRADED BEFORE WE CAN FIND OUT WHAT IT IS
ha ha, trade on the rumours, win win!
Pelosi, Frank, Corzine, Dodd...they all need to be with Blago
whew...I was getting worried I was not going to get my rumor fix today.....okay I take my Rudolf is gay back...I made that one up...
They can leak or unleak all the rumors they want. The end result will be the same.
non-google translation?
"S&P, in conjunction w/ the swiss national bank, announced that it had not leaked...."
...at which point the SNB branch of the bankster cabal, as advertised, supported the EUR with exactly what it took to re-establish the peg...
...and to all a "Good Grief!"
The End
Again, we all know that a downgrade in the cards. Look at the GDP growth and debt loads. And The Fed/IMF futile attempts at a bailout.
http://confoundedinterest.wordpress.com/2011/12/14/my-house-oversight-te...
now they can run the markets up on the rumor that there may be a rumor
Second derivatives are always bullish.
There so pissed that there are no Eurobonds yet and Euro QE and all the wonderfull Inkjet to Hell Technologies..........
unleaked is to information as unburnt is to ashes.
BB: NAR SAID REVISING PAST YEARS FRENCH DOWNGRADE NUMBERS
BB: NAR HAS HELP FROM S&P WITH REVISING PAST FRANCE DOWNGRADES
BB: NAR SAYS FRANCE WAS NOT ACTUALLY AAA SINCE THE BATTLE OF VERDUN
Okay HFT algos, run with that if you dare.
BB:
It's why the chairsatan was on the Hill today making sure the devil's lackeys continue to benefit from doing his bidding.
....aaannnnd here come the fall back down...
Not only have they run out of ideas for plans, now they have run out of ideas for rumors ;)
I guess non news is better than no news. W inning T he F uture
SP500 daily chart resumes choppy downtrend. Opposite for USDX.
My long term indicators have continued to warn of USD strength and EURO weakness and these signals have increased since 2009. The overdue dollar rally should be substantial.
http://stockmarket618.wordpress.com
This means NOTHING. France is NOT AAA, and anyone with a brain knows it. In fact, you can count on one hand {and have fingers left over} which nations in the world, truly are AAA. If the USA, who's dollar is the world's reserve currency isn't AAA {and we are not}, VERY few are.
Here is my AAA list of sovereigns:
Time remaining before 3:30 rumor: 1:27
Oooorrrrr, somebody finally clued in that S&P sold themselves as whores to Uncle Sam as a trade off for their top execs staying out of jail and as such, are being used as propaganda tools to keeps the world's focus on Europe's shit, fearing the generally inane, apathetic world might wake up and realize that Uncle Sam's shit stinks worse. Gotta keep those bidders as the Treasury auctions you know. Nah, probably not.
"We do not confirm a rumour that we will cutting the rating, because we will be cutting the rating."
I surely HOPE for somewhat MORE correction of the EURO !
WHY ? .. Because I am EUROPEAN !
U see.. Europe has a lot of Debt.. BUT we OWE this debt mainly to ourselves ... Therefore some depriiciation of the EURO doesnt concern Europeans very much .. EXCEPT ofc .. our GOODS will be Cheaper for foreigners .. and therefore even more easy to sell .than they were before .. due to their Quality ..ofc
And thus even IMPROVE our already respectable POSITIVE Trading and Currency Balance vis a vis the remaining World .. much needed NOW as the "World " aka the US wants all the Cash they can lie hand on .. and dont want Europe in the borrowers market . There isnt ROOM for europeans there.. now the US needs approx 300 BILLION USD fresh Capital .. every Month !
SO .. lets HOPE for some MORE of that GOOD STUFF .. a decline in the EUR/USD Exchange Rate.. it is very wellcome .. as seen in an European perspective !
I'm hoping for a further crash in the EUR/USD - good for my puts.