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LCH Raises Margins Costs For Most Spanish Bonds

Tyler Durden's picture




 

And from pure rumor, whereby the ECB's SMP which is not used due to Germany's stern disapproval, gets somehow replaced with the ESM, which does not exist, we go to fact, whereby we find that LCH, just as expected earlier, has hiked Spanish margins.

  • LCH SAYS CHANGE IN SPANISH MARGINS EFFECTIVE FROM CLOSE JUNE 21
  • LCH RAISES MARGIN COSTS FOR TRADING MOST SPANISH BONDS

More here.

 

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Tue, 06/19/2012 - 13:37 | 2540068 Mr. Fix
Mr. Fix's picture

I'm begining to think TPTB are trying to kill Spain.

They may now be ready to destroy the current system.

NWO  here we come.

Tue, 06/19/2012 - 13:38 | 2540091 ACP
ACP's picture

Phase 7?

Tue, 06/19/2012 - 13:38 | 2540095 Ahmeexnal
Ahmeexnal's picture

Swinegela Merdekel just OK'd eurobonds:

http://www.marketwatch.com/story/germany-to-allow-europe-funds-to-buy-de...

 

Now we know why the markets are soaring.

Tue, 06/19/2012 - 13:41 | 2540113 Global Hunter
Global Hunter's picture

just more bullshit (like the soaring markets), from the link

Germany is going to allow the euro zone's bailout funds to buy the sovereign debt of troubled European nations, according to reports in British news outlets including the Guardian and Sky News, without attribution.

Tue, 06/19/2012 - 13:53 | 2540155 Ghordius
Ghordius's picture

those are non-german european bonds, not the fabled and highly sought by the square mile EuroBonds. Nevertheless, interesting, thanks. - Edit: Global Hunter was faster

Tue, 06/19/2012 - 13:37 | 2540079 GeneMarchbanks
GeneMarchbanks's picture

Retaliation for the ratings agencies?

LCH must be real busy not being investigated for the JPM scandal so they had to pull this quickie patchwork.

Tue, 06/19/2012 - 13:39 | 2540098 Ghordius
Ghordius's picture

The Empire Strikes Back! Dahdahdahdadadah,dadadahhhh...

Tue, 06/19/2012 - 13:37 | 2540086 tmosley
tmosley's picture

But will they hike them again tomorrow, and again the day after that, and twice the next day?

Tue, 06/19/2012 - 13:38 | 2540088 Boilermaker
Boilermaker's picture

Hey, that's really interesting on the Spanish bonds.

Did you happen to notice that the SPX is up 19 handles again today? 

Tue, 06/19/2012 - 13:42 | 2540114 GeneMarchbanks
GeneMarchbanks's picture

LOL.

Love how you crassly shit on the nonsense. Kudos you're a dying breed.

Tue, 06/19/2012 - 13:38 | 2540094 hellas4life
hellas4life's picture

bullish

Tue, 06/19/2012 - 13:38 | 2540097 Comay Mierda
Comay Mierda's picture

B U L L I S H 

Tue, 06/19/2012 - 13:40 | 2540106 adyaner
adyaner's picture

meaning...??? this make more difficult to purchase on margin?? or make the people who bought on margin to cover the hike so the bonds have an artificial support??

Tue, 06/19/2012 - 13:44 | 2540120 Global Hunter
Global Hunter's picture

makes them more expensive to purchase on margin, stands to reason there will be less buyers. less bonds can be bought for the same amount of capital.

Tue, 06/19/2012 - 13:40 | 2540108 PaperBear
PaperBear's picture

Those participants who cannot come up with the extra cash will no doubt be selling their bond positions – ouch.

Tue, 06/19/2012 - 13:40 | 2540110 Cognitive Dissonance
Cognitive Dissonance's picture

And we have lift off, lift off of the Space Ship Ponzi.

Tue, 06/19/2012 - 13:45 | 2540125 Global Hunter
Global Hunter's picture

perhaps they're raising the margins because of the huge demand and they're trying to control the flow of capital into spanish bonds?  bwahahaha

Tue, 06/19/2012 - 13:50 | 2540140 lizzy36
lizzy36's picture

Just BTMFD.

problem solved.

Tue, 06/19/2012 - 13:56 | 2540170 adyaner
adyaner's picture

I think there will be a huge SMP purchase of  spanish bonds the coming days. so they hike the margins to force the current holders to stay in...will see...

Tue, 06/19/2012 - 14:00 | 2540180 Silversinner
Silversinner's picture

They just raised the price of a can of soda in my local

coffee shop from 1.25 to 1.50 euro.

20% inflation bitches.

Drinking water at the toilet is the new trend when

having a dry mouth from the joint.

Next step 50 cent for toillet visit to make op the

difference.Live is getting hard for a low wage

factory guy,fuck the system.

Rent up 10 euro,healthcare up 10%,foodbill up 7%.

Only question left is when to run away with my pockets

loaded with gold and silver and start a new life.

Looking for a place where I get to profit from the

fruits of my labour,now I feel like they pick my

pockets day in day out.It is not rewarding to be

productive nowdays.Ordered 3 two ounce silver

dragons and a gramm of hashish to chear myself up.

WINNING

Tue, 06/19/2012 - 14:08 | 2540213 JohnKozac
JohnKozac's picture

Silver, that's too bad. I can still can a 4 oz can for $1.00 USD.

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