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The Ironic Winners And Losers From The "Spain And Italy Bailout" Summit

Tyler Durden's picture




 

Presented with little comment but it seems that in yet another unintended consequence of the short-term haste to make noise ralative to any sustainable long-term solution, the nations that were supposed to benefit the most from the EU Summit are now the biggest losers as their equity markets are the only ones in Europe that are down from pre-Summit levels after today's sell-the-news events. It seems once again those looking at the equity markets to signal the success of an 'event' have been dangerously wrong-footed once again... Spain swung from an 8% gain to a 4% loss

 

Spain (pink) and Italy (red) have swung froim +8% kneejerk to -4% and -1% resepctively...

 

So perhaps finally we will stop hearing - the Summit must be a success, look at the performance of the equity market!!

 

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Fri, 07/20/2012 - 09:03 | 2635506 BaBaBouy
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GLOBAL FIN SYSTEM TAKEDOWN ...

Fri, 07/20/2012 - 09:05 | 2635513 GetZeeGold
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Are you sure you want to throw FIN in there.....seems a tad extreme.

 

Fri, 07/20/2012 - 09:07 | 2635522 BaBaBouy
BaBaBouy's picture

Funny... I was just gonna add "GET GOLD" !

Fri, 07/20/2012 - 09:20 | 2635588 BaBaBouy
BaBaBouy's picture

The GOOD is now "Tied" to the BAD and the UGLY, Via the SACKS and JP Nanosecond NY Algos.

Everything else is Stale Bread...

 

You just gotta know that the "SYSTEM" is on its last legs, when this Shit rules the markets 24/7 ...

Fri, 07/20/2012 - 09:23 | 2635613 GetZeeGold
GetZeeGold's picture

 

 

OK......so maybe it is FIN!

 

Is there still time to get a raincheck for that?

 

Fri, 07/20/2012 - 09:07 | 2635521 Dr Benway
Dr Benway's picture

ironic success, eh? I'll take it!

Fri, 07/20/2012 - 09:09 | 2635532 RobotTrader
RobotTrader's picture

Gold still trading tick for tick with Spanish bond prices.

 

Today we get a correction in stocks, and everybody kneejerks and piles right back into U.S. Paper.

Watch for another new high in bonds, munis and all the rest.

Fri, 07/20/2012 - 09:13 | 2635555 GetZeeGold
GetZeeGold's picture

 

 

It's amazing what you can do with a little hot QE cash.

 

Fri, 07/20/2012 - 09:52 | 2635795 Yen Cross
Yen Cross's picture

I think you mean, ( hypothetical QE cash). Now that idea is front run... 

Fri, 07/20/2012 - 09:09 | 2635533 d edwards
d edwards's picture

Big government plan to save the EU does just the oppisite-what a surprise!

Fri, 07/20/2012 - 09:10 | 2635536 Yen Cross
Yen Cross's picture

 Just in time for the " slosh fest" in London!

Fri, 07/20/2012 - 09:12 | 2635549 Peter K
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Paging Mr Euro buyer, paging Mr. Euro buyer. You are requested at the NY Fed trading desk :)

Fri, 07/20/2012 - 09:12 | 2635551 q99x2
q99x2's picture

The banksters can't rob Spain like it were Greece if they fix it.

Wonder what fool will buy the leaning tower once they move to Italy.

Fri, 07/20/2012 - 09:16 | 2635569 CheapBastard
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Spain's jobless immigrants take on banks over mortgages

 

Evictions, up to 200 a day, have become a symbol of Spain's 5-year economic crisis, started by a collapse in the housing and construction industry that put millions out of work.

 

http://www.reuters.com/article/2012/03/26/us-spain-evictions-idUSBRE82P0...

Fri, 07/20/2012 - 09:21 | 2635596 MorningStar
MorningStar's picture

"...the nations that were supposed to benefit the most from the EU Summit are now the biggest losers..."

 

We now see the massive demonstrations in Spain, Greece is slowly falling to the side of the road from exhaustion & what is in store for America this summer?

 

@d Edwards - yes, big government continues to be the problem & not the solution.  Need to read a book out about Americans finally taking a stand against federal corruption (big banks too big to fail & now big govt. too big to fail).  www.booksbyoliver.com

 

If only the political parties would allow the people's choice of candidates cause no one is excited about Obama nor Romney.  It's a corporate world with corporate govts & corporate govts.

Fri, 07/20/2012 - 09:28 | 2635648 Yen Cross
Yen Cross's picture

 It's perplexing, how no one is paying attention to the "melt down" in Europe! Cheap ois rates and $ selling in an election year!

   Pathetic! FX risk is starting to rear it's ugly head. Oil is artificially high, over geopolitical risk. The shit storm should swing into full gear next week, as my canned corn is 100% more expensive than it was 2 weeks ago!

Fri, 07/20/2012 - 09:33 | 2635680 magpie
magpie's picture

The magpie Doom-Bunker TM is stocked with corned beef which cost € 1,79 last year, now at 2,89.

Fri, 07/20/2012 - 09:41 | 2635731 Yen Cross
Yen Cross's picture

LMAO ( don't forget the spam) I makes great candles, when you run out of batteries!

Fri, 07/20/2012 - 09:49 | 2635778 magpie
magpie's picture

There's doom and there's doom. Good thinking, though i happen to have some buckets of industrial coke in the cellar, i still need a better source of energy.

Fri, 07/20/2012 - 09:29 | 2635658 TTaco
TTaco's picture

Turn the Machines Back On!

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