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Greek Deal - "Rumor Off"

Submitted by Tyler Durden on 01/23/2012 08:55 -0400

The "risk on" phases lasted a whole 3 hours (thank you FT Deutschland for forcing the latest EURUSD short squeeze round). And now, for the other side:

CYPRUS FINANCE MINISTER NOT SURE GREEK RESTRUCTURING WILL BE CONCLUDED THIS WEEK
EVERYTHING IS OPEN ON GREEK DEBT TALKS - CYRPUS FINANCE MINISTER

As expected. As further expected, look this rumor to be refuted, confirmed, refuted, and finally confirmed at least 10 more times before the end of the day, even as hedge funds are preparing to file papers.

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Mon, 01/23/2012 - 09:00 | 2088205 trampstamp

WTF! Long rope

Mon, 01/23/2012 - 09:04 | 2088212 slaughterer

First, this is Cypress talking, not Greece. Second, of course restructuring CANNOT be concluded this week. There are too many formalities involved. But a rudimentary agreement can be concluded this week. Whether that is priced in, remains to be seen. But I have not seen a "sell the news" moment in this market in a long time.

Mon, 01/23/2012 - 09:47 | 2088315 French Frog

This could take a while if each EU country issues/retracts a deal/no-deal press release in their own language today: ja nein oui non si no sim nao ja nee jo nej....

Mon, 01/23/2012 - 10:00 | 2088339 Scalaris

Cypress =/= Cyprus

Other than that you are golden.

Mon, 01/23/2012 - 08:58 | 2088206 Fips_OnTheSpot

Denials - long.

Mon, 01/23/2012 - 09:00 | 2088211 lolmao500

Long war :

http://twitter.com/#!/Newsinaninstant

US Elite Commando's in place near #Iran as EU prepares oil & financial sanctions.

BRK: All EU states banned from making new contracts with #Iran with immediate effect.

BRK: EU to freeze assets of #Iran Central Bank.

BRK: EU oil embargo on #Iran to come into effect on July 1.

BRK: US Fifth Fleet monitoring #Hormuz as #Iran says it will close the oil route.

BRK: Iranian news agency: Senior member of parliament says Iran will "definitely" close Strait Of Hormuz if crude exports are disrupted

Britain, US, France send warships through Strait of #Hormuz without incident as EU prepares sanctions.

Russia will keep all from making radical moves on Iran, has strong hope Iran talks will resume soon - FM Lavrov

Mon, 01/23/2012 - 09:03 | 2088213 Banksters

Greece needs to contribute more to the IMF in order for the IMF to bail out Greece. Repeat for Italy, Portugal, Spain, Belgium, and France.

Is anyone else tiring of this circle jerk?

Mon, 01/23/2012 - 09:04 | 2088218 a growing concern

Is anyone else tiring of this circle jerk?

Try switching hands?

Mon, 01/23/2012 - 09:06 | 2088224 Banksters

Nope, still nothing.

Mon, 01/23/2012 - 09:03 | 2088214 a growing concern

My 3x Ouzo Bull ETF is going to the moon!

Mon, 01/23/2012 - 09:03 | 2088215 _underscore

Mañana bitchez!

Mon, 01/23/2012 - 09:03 | 2088217 ekm

At the end I'm sure the Plunge Protection Team = Primary Dealers will buy Greek bonds. As former primary dealer or former PPT memeber called MF Globals tells you, nothing idiotic is out of reach for those guys.

Mon, 01/23/2012 - 09:05 | 2088222 Boilermaker

ES futures up 10 handles from when I took my goodnight piss yesterday and crawled into bed.

Must be more of that 'de-coupling' shit I've been reading about.

Let's jack this sucker to the moon again today! Wheeeeeeee!!!!!

Mon, 01/23/2012 - 09:09 | 2088233 ekm

Yea man. It's been two years I do the same thing every night and every morning. Night goes negative, whereas at about 4am the Plunge Protection Team = Primary Dealers start buying overseas. No wonder MF Global failed. Now I understand IT WAS NOT A BAD BET. Corzine might have just agreed to buy Italian Bonds on behalf of the PPT in order to be accepted as primary dealer. Essentially, he was suckered into it.

Mon, 01/23/2012 - 09:25 | 2088261 Boilermaker

It's astounding to me that nobody every mentions it (well, almost nobody). It's so unbelievable blatant that you would think some students at MIT (or whatever) would start to ferret it out. But, nobody does jack shit about it because it's jacked up instead of down.

It's just simply beyond belief.

Mon, 01/23/2012 - 09:35 | 2088280 ekm

Well, I got no wife and no kids = nothing else to do. I'd say most of people can't afford spending their daily life on market behaviour. That's why there are suckers.

Mon, 01/23/2012 - 09:06 | 2088225 Banksters

I remember the good old days when the EFSF was going to get levered 4x and solve all the problems.

Mon, 01/23/2012 - 09:12 | 2088236 ZeroPower

Short EURUSD from 132s again.

Mon, 01/23/2012 - 09:19 | 2088249 slaughterer

Me, I will play it safe and short EUR/USD again at 1.35.

Mon, 01/23/2012 - 09:30 | 2088271 Dr. Engali

I can't believe we are still talking about Greece. It feels like groundhog day. How long can they keep people distracted with what's going on over there and keep them from looking at the problems over here?

Mon, 01/23/2012 - 09:44 | 2088304 LookingWithAmazement