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Friday The 13th Is Here: Eurozone Sources Say Several Countries May Face Imminent Downgrade By S&P
The one we've all been waiting for:
- Eurozone Sources Say Several Countries May Face Imminent Downgrade By S&P -Dow Jones
- Eurozone source says Germany will not be downgraded - RTRS... So France will be?
- S&P declines to comment
Ladies and gents - happy Friday the 13th - the French downgrade is nigh. The only question - one or two notches. EURUSD promptly sliding on the news.
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<== France one notch
<== France two notches
FINALLY. SATISFACTION.
The only satisfaction I'll get out of S&P's ratings is when actual defaults prove the ratings worthless.
Ah, touche. But we have an ISDA to make sure 'defaults' do not happen.
Greenlight. Get in there and buy some stocks.
Been hearing these rumors for a while now. I'll believe it when I see it.
I am shocked that insider information like this could possibly be leaked... SHOCKED!
Oceania (The Petrol Dollar) has always been at war with Eurasia (the Euro).
Why do you think we are fucking around with Iran? To push up Brent versus a weak Euro.
After we are done, no oil exporter will ever consider anything other than the dollar again, and Timmy will be free to debase the currency. No strong petrol dollar alternative left behind.
No more racing to the bottom...the new game will be synchronized diving.
A few more years of happy motoring for Americans on their mega freeways, and bicycles for Europeans in their little villages.
Problem is the bi-lateral swaps agreements are accelerating. We thought the Venzuala/China swap agreement last year was symtomatic of the problem...I preferred to see it as emblematic.
... bicycles in their little villages? ... lol. But e-bikes are pretty hot over here right now. They go pretty zippy.
at last someone calling it as it is
Good point.
How about another doctored-well-above-expectaion University of Michigan Consumer Sentiment number in 35 mins to bring it all back up and yet again force some short covering?
> But we have an ISDA to make sure 'defaults' do not happen.
Close Default Encounters of the Third Kind
I haven't seen this news on bloomberg or reuters yet! Go figure!
I did see this one though.
Italy bond auction fails to match Spanish successI'm willing to bet some old scotch
That France will be lowered a notch
They need a new shock
To restart QE talk
And give us a kick in the crotch
+1947 Macallan
You're on Mayhem.....if I lose I'll deliver the bottle at ZeroHedge-a-palooza (just before they round us up).
ah..er...I wasn't actually betting, but rather invoking my privilege to indicate something greater than a +1 green arrow.
That said, I will honor your interpretation. Should we find one another in the rubble of what's to come, I will hold for you my one remaining bottle of Macallan. :)
Limerick on, friend.
I acknowledge my folly and your more than honorable offer. In that case Mayhem, we shall drink it together.....and once drunk, reminisce on our Zero Hedge brethren - both esteemed and reviled. Cheers!
I have a strong feeling that the downgrades will be announced today after market close. It'll be the best time to do it due to the markets being closed on Monday.
MLK rally! Machines only allowed to be on if you're buying an uptick. Prezzy says so.
Just do it all ready!
EE using rating downgrades force EURUSD lower + USD index higher before announcing QE3?
Nice Jyrki-boy avatar
He's the Big Spender of our miniscule country, an unintellectual boy-politician exercising a reckless tax money spending spree.
Relax, this news won't come out until all markets are closed for the weekend...
22.00 CET Bitchez!
As was foretold it all comes back around.
Timmy G on at 4:30 for spin session.
There are no shorts in the market!
A couple of us ZHers laid on shorts EOD yesterday.
and congress
Those idiots went long as soon as they heard the rumor.
And every few days before.
With debt ceiling being breached again, when does the US get its downgrade?
Soon, USAAA will be downgraded to USAaaaaaahh!
nope all the way to Sheep! US-Baaaaaa! /lol/
oh boy and on Friday the 13th no less?
Eurozone Sources Say Several Countries May Face Imminent Downgrade By S&P
Promises, promises!!!
http://www.youtube.com/watch?v=H8Q83DPZy6E
Always on Friday. Let me guess: Slovenia, Hungary, Portugal.
Portugal's too important...
Malta maybe, or The Vatican.
'bout fuckin time
More like S&P declines as comment
I better buy treasuries fast!
france will NOT get downgraded. NO chance of it.
chuckle
Kito I hate every single post you put on here but agree with them completely. It's really annoying.
@FONZANNOON --with friends like you, who needs enemies?
What's your bet on austria?
Same as France. Italy and Spain are in very bad shape.
http://workforall.net/CDS-Credit-default-Swaps.html
France should have been downgraded last year. If there was any integrity in this rating system we should be talking about the downgrade of Germany right now, not France.
Still seems like a bitch bad day to be a banker...er Templar.
The big question is when do these countries start dropping out.
The piigs are screwed.
Thank God we still have pussy and beer.
When they decide to stop using the Euro is when the whole thing collapses.
But when will that happen?
Presidents will be deposed. And technocrats will be called in.
And then technocrats will also be deposed. And guillotines erected.
Tupac & Jesus both got killed on Fri the 13th.
New boss at S & P in 5, 4, 3,
I think the US loves to see Europe in a mess. After all, this may boost the "Safety Haven Demand" of treasuries..
Timmy will be considered an early hero of the great resource war.
More office raids incoming.
How about a 10 notch downgrade for France?:)
notches, bitchez!
Nacho Friday!
As a side note, I see the trade deficit for November, 2011 for the US was $47.8 Billion.
Gee, perhaps the elites could explain again why exporting our wealth every single month is such a good deal for the US...
100% FUBAR.
Are you serious? Exporting our wealth? We are exporting cotton/linen rectangles and electrons, NOT wealth. What the other countries are sending us in return, THAT is wealth.
Its a GREAT deal for the US until the day when the other counties decide they don't much like our rectangles any more, and we look around and realize that we have NO capacity to produce anything besides petro-food. Mmmmmm...
That's when our bigger-than-the-rest-of-the-world-combined military/industrial force comes in handy.
"When you play the game of empire, you win or you die."
"Are you serious? Exporting our wealth?"
I never said the US Dollar was "wealth". Money is a medium of exchange between labor and goods/services. America continues to export industries and the jobs that go with them. That has not been a fair (or wise) exchange for cheaper goods (imo).
"Its a GREAT deal for the US until the day when the other counties decide they don't much like our rectangles any more, and we look around and realize that we have NO capacity to produce anything besides petro-food. Mmmmmm..."
Sort of like it would be a great deal for a sick patient never to take any medicine so they can save on the cost of medicine... until they die. Mmmmmm...
The very definition of a "trade deficit" is that we import more goods/services than we export. The difference is made up in dollars, so when you say we're exporting wealth in the context of a trade defecit, what else are you referring to other than dollars?
I 100% agree with you that it has not been a wise exchange in the long term. In the short term it has allowed us to live much better than the rest of the world for far, faaaaaaar less effort (just press PRINT!)
When the mean reversion occurs, the US will be in for a big wake-up call IMO. That's all I'm saying.
"...so when you say we're exporting wealth in the context of a trade defecit, what else are you referring to other than dollars?"
I do not contend that the US Dollar in and of itself represents wealth. Wealth, in my opinion, involves ownership of goods produced by labor. The US exported the capacity to create such wealth AND it exported wealth itself (this includes machines and inventories). It moved from here to there. One result of moving that capacity and capital abroad is we now import many of those goods that were once produced here.
Eurozone Sources Say Several Countries May Face Imminent Downgrade By S&P
Same Sources that bring you other bullshit.
Does anyone thinks this matters squat? With the central planner money manufacturers manufacturing as much eMoney as needed to keep The Syndicate on top none of this matters. Here's one for you: Since The Fed "manufactures" money, why isn't this product included in the GDP calculation? That would make our GDP look REALLY good !!!!
FrAAAnce we hardly knew you.
Too bad no announcement will ever be made until after the close, monday should be fun though.
US is closed on Monday.
MLK day.
Damn hate when my favorite soap opera has short weeks.
"As the Wurld Churns"
"All My Ponzis"
My favorite: "Genital Hospital"
Old news. The CDS market downgraded France last summer. As usual, the ratings agencis are hopelessly behind and totally worthless.
http://www.bloomberg.com/news/2011-12-15/france-cds-rate-exceeds-indones...
http://www.youtube.com/watch?v=Flt9K8vlJGE&feature=related
looks like we may have a double top on the charts. the downward trend ZHers have been salivating for may start materializing.
/ES ran out of viagra... oops its starting to lift again...
Ok financial guru's (which I'm not), please answer this:
If all these banks are broke, especially in Europe and Japan, how can a company do this?
http://www.sec.gov/Archives/edgar/data/51143/000104746911008827/a2206059...
http://www.sec.gov/Archives/edgar/data/51143/000110465911058766/a11-2849...
Two notes, one short, one long, then we get this:
http://www.sec.gov/Archives/edgar/data/51143/000110465911063773/a11-2971...
A credit line of $10 billion, again, from some stated, would-be broke banks.
So it seems to me in laymen terms, for a company this size, it's a no brainer to keep buying Treasuries, guessing the terms of your credit are better than buying the Treasuries (ratio of % of credit versus ROI)? This of course, in light of global banks that supposedly are broke? Or is it the consensus that money printing, at all Central Banks, support this indefinitely? If your economy isn't producing enough to back the Treasury notes, how the hell can you pay them at maturity?
Hopefully there are some industry pro's that can explain this simply, thanks in advance.
I'm not a guru either, but here's my take on it.
As long as the credit markets perceive that governments will continue to bail them out, the money will flow. IMHO, that is why the short term spreads on CDS paper (< 1yr) are much lower than long-term spreads (5+ yrs). It is also why governments are rolling their debt over using short-term paper. The market is saying that it is likely bailouts will coninue to succeed for the next year or two but not so sure after that...
Let them eat cake
Meanwhile in the really important news of the day DSK says he had no way of knowing that the women he was screwing were prostitutes since they were all naked at the time.
"They never flashed their badge(s) [Just everything else!]" :>D
When all is said and done we may actually go up today. Bad news doesn't matter to this market any more.
Bad news = more (printed) money!
Good news = more (earned) money!
et cetera
and so forth
and so on
ad infinitum
--> banksters dream book
Pretty much. All news is good news in this market. We should probably be green by 12pm.
May Face Imminent Downgrade -- no news.
You get what you deserve, bitchez
They don't care. Draghi is printing.
EU not playing ball pressuring Iran, huh?...ok, let's see how they like some S&P downgrades
Just get it over with and downgrade Planet Earth already....Seriousssly
It's like a damned yo-yo, one day it's all hopey-changey the next it's downgrade imminent
FBN: France treasury no comment on Downgrade.
Done.
if it's on tv, it must be true <s> Reuters:
Breaking News: France TV channels say France rating downgraded by S&P, citing government sourceGreat, so what you're telling me is that S&P is still behind the curve?
German radio news - downgrades immanent for
France + Italy + Spain + Portugal