European Stocks End Green (But Leaking) As Sovereigns Stagnate

Tyler Durden's picture

There has been a lot of bluster this week that tail-risks have been removed from Europe (thanks to The Dreme) and now ESM ratification can continue to hold up Europe's insolvent states. Europe's equity markets continue to lift (though slower and slower), Europe's VIX has fallen again (post ESM decision), Europe's credit spreads continue to compress and squeeze tighter, and sovereign bonds rally - at the short-end. The one fly in the ointment - is that the last three days have seen very little movement in Bond yields for Spain, Italy, and France - only Germany's 10bps yield decompression has been the driver of perceived risk changes for the periphery. EURUSD is now 1 sigma rich to its swap-spread fair-value model - which is unusual. It seemes -just as in the US MBS market - the rumor has been bought, as stocks in Europe also leaked lower from the ESM announcement time spike.


EURUSD has become a little exuberant- as is clear (lower pane) it has seldom traded more than 1 sigma rich to its swap-spread fair-value...


and Sovereign yields have stagnated this week...


and European stocks leaked lower post the ESM decision...


Charts: Bloomberg

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gggunchi's picture

So markets still running wild with faux Euro-thusiasm.  Dollar still a large pile of rubbish. 


Nothing to see here moving on . . .

chubbar's picture

OT, but this is a wild report about a woman who is being targeted for assassination after uncovering a plot to attack Iran in 07. It also looks like there is much more to the story that is slated to be covered in subsequent Veteranstoday articles. Quite a story!

"Five years ago, an American woman serving in Bahrain single handedly stopped the United States government from a criminal attack on Iran and a series of “false flag” terror attacks on American troops and ships in the region.

American Neocons and Israeli lobby decided this was their last chance to start a war, one that would saddle the next president with a disaster of unprecedented proportions, fighting 3 wars during America’s Bush driven economic collapse.

The plans were in motion, plans that would have eventually collapsed the United States, plans also aimed at the destruction of Iran and the enslavement of her people. One person, known to few, played a key role in stopping this disaster.

This is Gwyneth Todd, former member of President Clinton’s National Security Council and top Middle East advisor. Stopping the Bush invasion would end her career and nearly cost her life.

Todd, though a ranking Navy official in 2007, was forced to flee Bahrain for her life, settling in Australia. Those who aided her were murdered, jailed, hunted.

Today she is raising a family, taking care of wildlife and serves as an editor for Veterans Today. This is part of a story few know, a desperate time and the heroic acts of one person, one who made a difference.



In 2007, an American armada, troop ships, aircraft carriers, guided missile cruisers and destroyers sailed into the Persian Gulf. Their plan was to land Marines on Iranian soil, a plan hatched by Vice President Dick Cheney and White House officials including Karl Rove, Paul Wolfowitz and Richard Clarke.


Vice Admiral Kevin Cosgriff

Military command of this invasion, to be done without consultation of congress or the United Nations was left to Vice Admiral Kevin J. Cosgriff and Admiral Will J. Fallon, both career opportunists with extremist political views, willing to do anything for promotion and the curry favor from the powerful criminal figures in US government.

Their “cover story” was to sale a frigate up the Shatt al Arab, a disputed waterway between Iraq and Iran, hoping to stimulate a “response” from Iran.

Their real plan was to create the response themselves, as was done by the Navy during the Tonkin Gulf Incident in 1964 when America “invented” an attack by North Vietnam as a prelude to a 10 year war America eventually lost.

Their plans were to create phony radio traffic simulating an Iranian attack in order to push America into authorizing hostilities that they, themselves, had perpetrated in as part of a conspiracy.

The official version of story is in a 5 page article in Washington Post last Sunday titled:

Why was a Navy advisor stripped of her career?

What is important here is not just the quality of the story that is told, but the more important story that could never be told. There was a second part of the plan. Admiral Cosgriff informed Todd, on December 13, 2007, while Todd was his chief advisor, that Iran planned on attacking Bahrain and had total control of Shiites in the region.

This is how the Washington Post reports her response to the Admiral:

“The report, which she guessed originated with the local CIA station, said the attacks were to be led by Bahrain’s top Shiite religious figure, Isa Qassim.

Todd thought the report was fishy. Although Bahrain’s Shiites did oppose the U.S.-backed Sunni monarchy, they’re Arabs, eternal enemies of the Persian Iranians. And Qassim himself, it happened, had warned Todd just the previous day that anti-monarchy demonstrators might attack places frequented by U.S. personnel.

The report “looked like a fabrication by someone trying to kill two birds with one stone, by making the Bahraini Shia appear to be anti-U.S. terrorists who also happened to be taking orders from Iran,” Todd said. “I knew, really knew, that the Bahraini Shia were trying to ensure U.S. personnel were nowhere near the possible violence.” She suspected the intelligence report was cooked up by Bush administration hawks.”


Isa Qassim

Todd was sent to meet with intelligence sources who said the report was bogus. Private sources told a different story.

They indicated that Bahrainian secret police, aided by special operations units answerable to the Joint Special Operations Command under Vice President Cheney, planned to stage an attack on US facilities.

The would be timed to attacks on US naval personnel, terror bombings, staged by Americans but blamed on Isa Qassim, a popular religious figure who was known to oppose the local monarchy.

Through him, false claims of naval attacks would flood in to Washington and Marines would land in Iran.

Hundreds of Americans would be murdered by fellow Americans to serve “political necessity and the greater good,” as the slogan so often used by the “neocons” goes, especially when criminal acts are involved.


The night Admiral Cosgriff sent Todd out to meet a CIA informant in Dirza, Todd’s clearances were stripped, she was cut off from all contact and abandoned, abandoned and hunted by death squads of Bahrainian secret police who had been tailing her.

She was going to be murdered in Bahrain to silence her, as so many have been since.

In the interim, however, Todd contacted ranking supporters within the Navy and US government, reporting this attempt at terrorism and an unauthorized invasion and, with the help of her soon to be husband, an Australian naval official, managed to escape unharmed and hunted.

The “Cosgriff/Fallon War Deception” was derailed and war averted............"

LongSoupLine's picture



DOn't worry, one or two well placed rumors or sound bytes will fix that "leak" real fast.


The game of fools continues...we are the pawns.

waterdude's picture

more euro-doom from the guys who were telling you to be short the 26% rally in 4mos on broader EU and 35% in 2mos in Spain. 

Let me know when you're thinking of getting long so I'll know when to book profits.

Conman's picture

If you visit here or any other web site for trading advice you are as stupid as your statement makes you out to be. BTW yahoo finance message boards misses you. Back there you go troll.

buzzsaw99's picture

Let me know when you're thinking of getting long...


The answer is never. I hope that means that you will wait forever to sell.

magpie's picture

BAE and EADS fusion the day bankruptcy union is inaugurated and Libya US ambassador is rubbed out...not bad, not bad at all, European illuminati.

Squid Vicious's picture

so the whole world's markets are on hold waiting for a bunch of hebes sitting in a room to decide how much money they're gonna print tomorrow... correct me if i'm wrong