Euro, Stocks Soar On FT Report EU "Looks To Swift Recap" Of European Banks

Tyler Durden's picture

And right on cue, just like 2 weeks ago when the FT "broke" the news that China was about to bailout Europe (all over again), here they come again, reporting that the EU is "looking to [sic] swift recapitalzation of 16 banks." From the FT: :European officials look set to speed up plans to recapitalise the 16 banks that came close to failing last summer’s pan-EU stress tests as part of a co-ordinated effort to reassure the markets about the strength of the 27-nation bloc’s banking sector. A senior French official said the 16 banks regarded to be close to the threshold would now have to seek new funds immediately. Although there has been widespread speculation that French banks are seeking more capital, none is on the list. Other European officials said discussions were still under way. The move would affect mostly mid-tier banks. Seven are Spanish, two are from Germany, Greece and Portugal, and one each from Italy, Cyprus and Slovenia. The list includes Germany’s HSH Nordbank and Banco Popolare of Italy." And we are now taking bets on how long until this whole non-news, all rumor move is faded.

Update: We answer our own question: 30 minutes.

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SolidSnake961's picture

half life of about 30 min.

101 years and counting's picture

not even that long. here comes the flush.

Hedgetard55's picture

NetFlix the "safe haven" buy for today. :~)


ROBO cleaning up today, no doubt.

TruthInSunshine's picture




***This Is A Financial Times Breaking News Report***


An anonymous source has provided us with details that Warren Buffett, while urinating in the bathtub, decided to buy 100% of French Banks at a 25% premium on present market values, and that Buffett further decided, while wiping his ass after defecating, that he will buy all PIIGS+France+U.K. bonds for 100% of their face value.

Becky Quick reporting on assignment

***This Has Been A Financial Times Breaking News Report***

Cdad's picture

Nice 6 sigma, PPT event there a few minutes ago.  Being followed up by desperate quote stuffing right now.  

Nice pachinko machine.

d00daa's picture

didn't even need to see the news, price action gave it away.  always happens when we're sliding to new lows...

fade. this. bullshit.

Cdad's picture

Fading it....and so will the HFT.  They absolutely cinched a move lower now with the insane pump.  They thew the kitchen sink at it...but it won't work.

HelluvaEngineer's picture

Protecting the neckline of this H&S?  Might work for this afternoon but could have a nasty gap down tomorrow.

Cdad's picture

Program selling on the close should set the inverse ETFs on fire...ensuring the breakdown of technical mumbo jumbo.  That absolutely moronic pump has cleared the way and given the green light for short selling.

Just waiting for confirmation now.

Cdad's picture

So supposedly we jumped on "Euro banks will be recapitalized."  There is nothing left to recapitalize.  Faith in those institutions is gone.

You can cry wolf only so many times...and then the wolf shows up and does what wolves tend to do.

Cdad's picture

There again...another desperate quote stuffing effort. Volume response was pathetic.

Cdad's picture

Way to go criminal syndicate Wall Street bankers...and your computers.  You've done it now.  You have killed the market.

Nice ramp job on that rumor there, Ben.  

Cdad's picture

Russel is now at a critical breakdown level.  No one seems to be interested in saving it.

Cdad's picture

Hey Wall lifting and quote stuffing is NOT an investment thesis.

Keep it up...just go ahead and finally kill it so that we can get on with the collapse and the following recovery.

mt paul's picture

eat 3 wolves

before breakfast...


baddest bear

on the iceberg..

CClarity's picture

But . . . will the EU recapitalize MS and GS?  Afterall, our FED and Treas helped their banks with TARP, swap lines, and so much more.

CClarity's picture

Oh never mind.  They don't intend to "help" those banks recapitalize.  They just want the 16 that didn't perform well on their joke stress tests to go to the market and attempt to recapitalize.  Sure, that's a great plan.  They won't have any problem issuing more stock or bonds for their capital.  hahahahah

slewie the pi-rat's picture

fine new "grasping" avatar, Cdad!  +++

now looking @ 1.3469 and heading south...


jtmo3's picture

Yep, story about nextflix being bought by amazon. 

TruthInSunshine's picture

And AOL is going to buy Google, Apple & Amazon.

Spastica Rex's picture

Wasn't AOL bought out by Compuserve?

TruthInSunshine's picture

I thought Gateway bought all of the aforementioned players.

kito's picture

was that the company that bought out atari? man i loved pong

Spastica Rex's picture

Coleco bought Atari, Sega, and Nintendo and then sold to 3DO (Panasonic). I think.

TruthInSunshine's picture

It's now GE/Sino-Forest Offshore Capital, PLLC, lmtd.

FEDbuster's picture

Underwritten by the SBA and insured and CDS provided by AIG.

TruthInSunshine's picture

Which is backstopped by The African National Congress Insurance Fund® of Omaha™, LLC

Hedgetard55's picture

And the Natiional Bank of Zimbabwe has THEIR back.

zebrasquid's picture

And Kim K. has the back of a Zimbabwean.

PD Quig's picture

DX took a 36 pip hit--half of it is back already...


pupton's picture

I just BTFD bitchez!


d00daa's picture

and you're about ready to lose your ass...  bitchez.

rocker's picture

This is the same Scumbag paper that told us China was Bailing out Europe.   LOL

Fool Me Once you can't fool me again.

pupton's picture

To clarify, I added to my position in physical silver today.  Yes, I have already lost 10% of my ass today. 

kito's picture

check the ounces, let me know if its lost 10 pct in weight.

pupton's picture

Yeah, the shit still takes up as much space, too.

Zonker's picture

Don't fight Organized Crime Bitchez!

Irish66's picture

must keep 1120

kito's picture

better to focus on the drama of the dow. that is what the average person looks at. huge drops of FOUR HUNDRED POINTS has a nice effect on the population.

Archimedes's picture

I give it til about

TruthInSunshine's picture

This is the point where the rumors from hacks like The Financial Times are sell the news events to those who get the leak before the article is released.

Iriestx's picture

This rumor should be enough to turn us green.

Clorox Cowboy's picture

...with motion sickness maybe.

CrashisOptimistic's picture

"Seriously, could we just stop with the bullshit?"

Quoting TD from the China rumor.

Corn1945's picture

I would use any bounce to get the fuck out of this mess if you haven't already.