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Facts like these will never make the FT
Here's a fact: much of the developed world is near the tipping point for hyperinflation
How long can the credit markets trade like a worldwide financial meltdown is right around the corner, while the stock markets trade purely on baseless rumors?
It seems that when the stock market finally corrects, it's going to be very ugly.
Meanwhile, the smackdown of gold continues for no particular reason than because it was overbought.
How deep are your pockets?
That Russia buying EZ bonds rumor sure was out of nowhere - the last thing Russia wants, economically and even moreso politically, is a strong Eurozone.
But the vacuum tubes are not programmed to process images and charts..
What's the next step here, ECB raw monetization?
Reality and HFT... like oil and water
and yet the ponzi lumbers on, staggering like a old mean drunk... when will the death blow land? getting really tired of this shit.
the market, once again, appears to be not only impervious to reality...but rather blissfully ignorant of them.
Euro back above 1.37, USD back below 77 and the /ES over 1160. Life is good in fantasy land.
Yes it is, A-IQ. We must always remember though that this is a race to the bottom of the pit without stepping off a vertical edge.
Lot's of smoke and mirrors to cloud the way.
russia and china to the rescue.....who would have thought
All I see from the charts is ze price stabeleeteeee...
The bank libor chart is a picture perfect cup and handle breakout chart.
looks like they could barely bother with the handle in the rush to continue up.
This ECB Deposit Facility graph is transitory. Nothing to see here.... Move along please.
This is just like the end of 2007 and the beginning of 2008 when it became apparent that the subprime market was tanking and it was spilling over into everything else. The market just shut their eyes and pretended that everything was ok. correct me if I'm wrong but the dow hit 14000 well after the cracks appeared in 2007. We are just watching it repeat itself only magnified.
Russia and China saving the day? It's like saying that the problems in subprime are likely to be contained. The ben bernanke.
Eerily similar. Bank CEOs on TV. Nonsensical rumors flying around. Wild gyrations in the market.
I will never forget it - the secondary mortgage market absolutely seized up in August 2007, but the equity markets didn't peak until October/November. I couldn't believe it - the mechanism for funding 40% of all mortgages in the country just stopped, and the equity markets kept going up.
so European banks think depositing money overnight with ECB is better than lending it/depositing it overnight with their fellow European banks, providing a useful measure of the distrust among thieves. And the ECB itself is to be trusted?
remember the european bank stress tests a while back. the fellas said all is well.
Calmdown Tyler....just 52% of all-time high set in June 2010 and 66% of the 2008 panic.
The ECB's all-time overnight deposit high of €384.3 billion was reached in June 2010, driven by uncertainty about the then nascent debt crisis and an abundance of liquidity in the market as banks prepared to repay a 12-month ECB refinancing operation. Overnight deposits reached €297.4 billion in November 2008, following the collapse of Lehman Brothers
Tyler R U working for the the US Treassury or the FED....?
Obvious-but-must-be-said observation: The only news that moves equities is what's going on with CBs. The fact that reports about earnings, product innovation, management competence, etc. are dwarfed by the "who's crashing who's sovereign default party" is the most obvious sign of all that the markets are broken beyond repair.
Stock bulls holding their breath for QE is like the pig in the house of straw hoping the Big Bad Wolf has bronchitis. The world needs to stop pretending and go directly to RESET.
My two cents.
NEWS FLASH....BlowHorn [CNBC]...10:34 est...
The network finally comes around to report that the Chinese are not interested in Italian bonds, but rather scooping Italian industrial assets. Well, that didn't take long....about 16 hours. Which is just enough time to pull of another 6 sigma trading event driven by S&P futures.
And another Eurozone PIIG considers selling any assets with value to support profligate government spending. I'm sure the Italians will be thrilled to learn this.
Furthermore, USD Libor continues to rise and has now risen nearly 40 days in a row. While not nearly parabolic, it is time to shift attention away from Credit Agricole, which is still the most "funding challenged", and focus on CSFB which once again rose by 0.01%, and threatens to overtake the troubled French bank in pole position. Time to refocus the shorts from France to Switzerland?
So ... what you're saying is that Switzerland is close to solving its currency-appreciation problems? Happy days!
DJ ECB Drains EUR166.963 Billion At 1-Day Quick Tender
So ECB "sterilized" twice the amount of Euro the bought Bonds for....
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