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France Downgrade Rumor? France-Bund Spread Explodes

Submitted by Tyler Durden on 11/02/2011 07:35 -0400

Uhm, what was that? The Bund-OAT spread just soared by 7 bps to an all time record 129 and widening, which we expect is due to the EFSF bond pull. Expect a 130 handle any second...So Europe now has France to add to the Greek and Italian communicating vessels? Good work.

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Wed, 11/02/2011 - 07:38 | 1836066 Quintus

And the Euro is up 90bps against the dollar?

Wed, 11/02/2011 - 07:42 | 1836078 Arius

because it is a rumour ... these people like to play it safe .... lets see the downgrade than we move ...

show us the money - show us that you mean business!

Wed, 11/02/2011 - 07:46 | 1836084 Quintus

Yeah. I'll believe it when I see it.

Wed, 11/02/2011 - 07:48 | 1836090 bernorange

"Now go away or I shall taunt you a second time!" /snark

www.pmbug.com

Wed, 11/02/2011 - 07:49 | 1836094 Quintus

Fetchez la vache!

Wed, 11/02/2011 - 12:20 | 1837208 Piranhanoia

La Vache?

Wed, 11/02/2011 - 12:47 | 1837368 Quintus

Quoting from Monty Python's "Holy Grail" film.

Wed, 11/02/2011 - 07:43 | 1836079 Peter K

EUR/USD is always the last domino to fall:) PS MidEast names buying today, supposedly.

Wed, 11/02/2011 - 08:33 | 1836171 abugarance

great base for a short against the suckers bitchez

Wed, 11/02/2011 - 08:39 | 1836186 slaughterer

I have heard about this rumor of a French downgrade from S&P all week.

Wed, 11/02/2011 - 07:39 | 1836067 trampstamp

Dam

Wed, 11/02/2011 - 07:39 | 1836069 pendragon

eurusd doesn't seem to have noticed

Wed, 11/02/2011 - 07:40 | 1836070 qussl3

Ben better print.

This incessant EUR bid is getting comical.

Wed, 11/02/2011 - 08:03 | 1836114 trampstamp

I don't know man. did you read this:

http://www.zerohedge.com/news/guest-post-fed-trapped-inflation

Wed, 11/02/2011 - 07:39 | 1836072 ziggy59

I love roasted FIGS

Wed, 11/02/2011 - 07:41 | 1836075 Mae Kadoodie

You gotta eat your OAT Spread in the morning!

Wed, 11/02/2011 - 07:40 | 1836076 ArkansasAngie

Maybe the French should be allowed to vote, too.

Wed, 11/02/2011 - 07:54 | 1836107 YHC-FTSE

Unless a coup deposes G-Pap in the next few weeks, I foresee shedloads of Mori and GfK pollsters flying to Greece to gauge the outcome of the referendum.

Wed, 11/02/2011 - 07:43 | 1836080 Cdad

So is the Pacific Ocean also going to buy French debt, too?

Wed, 11/02/2011 - 07:52 | 1836097 Rollerball

Labia

Wed, 11/02/2011 - 07:52 | 1836098 Overflow-admin

Non, the Pacific Ocean IS french debt ;)

Wed, 11/02/2011 - 07:44 | 1836081 jmcadg

Bon Voyage

Wed, 11/02/2011 - 07:46 | 1836083 Kokulakai

The union won't survive democracy.

Wed, 11/02/2011 - 07:46 | 1836085 melanie

Festering anger, Nazi war crimes and the £60bn the Greeks believe the Germans owe them

http://www.dailymail.co.uk/news/article-2056400/Greece-debt-crisis-Greek...

Wed, 11/02/2011 - 07:57 | 1836093 wang (not verified)

The SS indulged their bloodlust on men, women and children alike. While homes and shops blazed around them like some hellish inferno, women were violated and those who were pregnant were stabbed in the guts. Small babies were bayoneted in their cribs. The village priest was beheaded.

By the time Hitler’s men had left the Greek village..

Hitler’s men even raided the Greeks’ central bank, forcing them to give Germany a massive ‘war loan’one that has never been paid back,..

meanwhile Benito Mussolini, the fascist dictator of Italy, was desperate to show Hitler that he, too, could launch a blitzkrieg. And so, in October 1940 the Italians attacked Greece..

To make matters worse, the Royal Navy mounted a blockade of Greece,

Wed, 11/02/2011 - 08:34 | 1836172 GOSPLAN HERO

National Socialists are brutal.

Wed, 11/02/2011 - 07:53 | 1836103 qussl3

Compare Japanese and Chinese versions of Nanking, the truth is probably somewhere in between, not that it will ever matter to either.

Which version of history is that link drinking from?

Wed, 11/02/2011 - 08:09 | 1836118 wang (not verified)

Japanese version - never happened

Wed, 11/02/2011 - 08:30 | 1836165 PY-129-20

http://www.welt.de/politik/deutschland/article13610386/Schuldet-Deutschl...

Paris conference in 1945/1946 - there was an agreement on reparations. Then 1953 there was a second agreement in London on this topic. Then 1990 there was another agreement.

It is estimated that Germany already paid around 30 bn Euros since the end of WWII. We also paid around 115 million DM for individuals (which was accepted by the Greek government) And still we are getting new claims of victims of that time.

I understand that it is still a difficult topic - I agree that Germans robbed the country and did terrible things to the local public (not all Wehrmacht soldiers, but certainly unforgivable things happened there). I can understand the scorn of people that lived at the time. I can understand if they still hate Germans or resent them.

But where do we draw a line? We paid and paid and paid - through EU subventions (not only for Greece) - and that is fine. People that suffered should get money and more important - an acknowledgement that they were treated badly and inhumane. There is not more we can do - we can ask for forgiveness and we have done so. And I know that some people will never accept this - I can understand that.

But we are now closer to a generation that never went through the horror of WWII.

Wed, 11/02/2011 - 08:29 | 1836091 Youri Carma