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Making Sense Of The Chaos: Europe's Calendar Of Events For The Rest Of November

Tyler Durden's picture




 

Since nothing else matters in this market except for what lie Europe's leaders can come up with to mask for a few more hours that they are all insolvent and helpless, a statement validated by today's two ECB interventions in the BTP market which achieved absolutely nothing, and resulted in a close in the Italian 10 Year at just over 89, an all time low, despite the Cannes meeting which naturally was a total flop, below we present the key events in Europe for the remainder of November. Unfortunately traders are unable to leave early today even as the market has effectively closed as one has to wait for the Greek confidence vote which is now expected to pass in favor of G-Pap and lead to his resignation and the creation of a coalition government by Monday, although one can't help but be skeptical just how this particular plan will get messed up in the next 48 hours.

So here are the main events:

  • Friday, Nov. 4: Greek government confidence vote.
  • Monday, Nov. 7: Meeting of Eurogroup finance ministers. EFSF issuance expected within two weeks of this date. IMF/EU officials start second quarterly evaluation of Portugal’s bailout program implementation. Should also last two weeks.
  • Tuesday, Nov. 8: EU finance ministers meeting. Greek T-bill auction.
  • Thursday, Nov. 10: Italian T-bill auction.
  • Friday, Nov. 11: EUR2.0 billion of Greek T-bills mature.
  • Monday, Nov. 14: Italian bond auction.
  • Tuesday, Nov. 15: Greek T-bill auction.
  • Wednesday, Nov. 16: Portuguese T-bill auction.
  • Thursday, Nov. 17: Spanish and French bond auctions.
  • Friday, Nov. 18: EUR1.3 billion of Greek T-bills mature.
  • Sunday, Nov. 20: Spain holds general election.
  • Thursday, Nov. 24: General strike in Portugal.
  • Friday, Nov. 25: Italian T-bill/zero coupon bond auction.
  • Tuesday, Nov. 29: Italian bond auction. Final Portuguese budget vote.
 

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Fri, 11/04/2011 - 13:36 | 1845830 DoChenRollingBearing
DoChenRollingBearing's picture

Well, at least we won't be bored.  Plenty of news to keep us thinking.

Some of those headlines will likely prelude some dramatic days.  No end of Euro problems in sight.

Keep buying gold.

Fri, 11/04/2011 - 13:37 | 1845840 Vergeltung
Vergeltung's picture

rarely bored here at ZH. always something to stimulate the inquisitive mind.

 

Fri, 11/04/2011 - 13:45 | 1845908 bigdumbnugly
bigdumbnugly's picture

erin attracts the creepy types like flies, doesn't she?

Fri, 11/04/2011 - 19:05 | 1846909 Buck Johnson
Buck Johnson's picture

I think because she looks like she "provides" if you know what I mean, possibly UTR (Under the Radar).

Fri, 11/04/2011 - 13:56 | 1845985 CPL
CPL's picture

Well she looks like a rental.  I can see how he got confused.

Fri, 11/04/2011 - 13:37 | 1845841 bigdumbnugly
bigdumbnugly's picture

huh.

france must've pushed the forward-looking guillotine manufacturing statistics back to december.

that's the one to keep a head's up on.

Fri, 11/04/2011 - 13:37 | 1845846 mn2
mn2's picture

just buy the euro and dont listen to all these negative articles that dont amount to anything.

Fri, 11/04/2011 - 13:58 | 1845992 CPL
CPL's picture

I'm going to wait for a bit.

 

It won't burn as well in single denominations.  Need to wait for bricks of the stuff before the people of Europe can use it to heat their homes this winter.

Fri, 11/04/2011 - 14:16 | 1846072 carbonmutant
carbonmutant's picture

Wallpaper engravings...

Fri, 11/04/2011 - 13:38 | 1845850 LawsofPhysics
LawsofPhysics's picture

Thanks Tyler.

 

Fine with me, the song remains the same.  Buy low, sell high. More ups and downs simply means a better X-mas.

Fri, 11/04/2011 - 14:05 | 1846022 CrashisOptimistic
CrashisOptimistic's picture

Not Euro specific, but let's also keep in mind that November 18th the SuperCommittee announces that it reached no agreement and the word Sequestration will dominate headlines for a week or so.

Fri, 11/04/2011 - 13:38 | 1845861 Ivanovich
Ivanovich's picture

Yep, market afternoon ramp up in process.  Again.

Fri, 11/04/2011 - 14:15 | 1846063 kito
kito's picture

why bother to go through all this drama to have the markets go higher. heres an idea: automatic increases in the s&p pegged to inflation regardless of what happens. no matter what. every year, automatic stock market increases. this way, we can alleviate the stress of these unnerved global leaders, not worry about subversive manipulation, everybody happy!!!!!

Fri, 11/04/2011 - 13:42 | 1845885 Sudden Debt
Sudden Debt's picture

Will there be chaos, anger or hatetred... Who know!

Fri, 11/04/2011 - 13:46 | 1845918 Pizza spaghetti...
Pizza spaghetti and mandolino's picture

Nov 7th: critical vote in the Italian House of Representatives, the government may miss a couple of votes and fail to get last years accounts approved.

Fri, 11/04/2011 - 14:03 | 1845942 slewie the pi-rat
slewie the pi-rat's picture

endless caravans of clown cars full of finiMiniz!

i see where they plan to launch the EFSF within two weeks of next monday.  now, would that be the original? the revised? next year's? the one to be approved? the one to be determined?  the one contingent on the 50% haircut? the 21% haircut? the one germany needs to approve?  or, some other one?

Fri, 11/04/2011 - 13:51 | 1845953 surf0766
surf0766's picture

What is with the up move

Fri, 11/04/2011 - 15:09 | 1846268 Mark123
Mark123's picture

If you want to understand this market, just study the Vancouver stock exchange history.  Pump and dump penny stocks....a slimy pyramid scheme with all the trappings of a real equity market.

 

It will not end because greed is so powerful, but the equity markets will become less and less "real". 

Fri, 11/04/2011 - 13:57 | 1845988 pendragon
pendragon's picture

so the cannes meeting achieved the square root of fark all, btpbund spreads at all time wides and confirmation that france and italy are in recession with germany on the cusp of recession via pmis and the euro is back to nearly flat on the day

Fri, 11/04/2011 - 13:59 | 1846000 XRAYD
XRAYD's picture

So, G-pap "wins" and resigns?

 

Is there a "con" in confidence?

Fri, 11/04/2011 - 14:02 | 1846011 Odin
Odin's picture

I love how the market rallies on bad news these days... When is this shit going to end...

Fri, 11/04/2011 - 14:21 | 1846092 carbonmutant
carbonmutant's picture

When we no longer have a market...

Fri, 11/04/2011 - 14:04 | 1846020 XRAYD
XRAYD's picture

Not to mention the US congressional super commitee doing or NOT its budget cut thingy in Washginton!

 

Fri, 11/04/2011 - 14:42 | 1846190 Dr. No
Dr. No's picture

The super committe did exactly what it was suppose to do:  Get the debt ceiling passed by deferring the decisions until later as well as hang ea few scapegoats out to dry.  Boehnr and Reid are patting themselves on the back.  They got the debt ceiling raised.  They let a subgroup of people make the impossible decisions.  If the super committe cuts (which they wont), Boehner and Reid will be the first to say "dont look at me, i didnt cut any thing".  If the super committe fails to cut, boehner and reid will say, "it wasnt up to me, the cuts were automtic since the committee didnt do its job.  Re-elect me and we will do something about this before it kicks in and hurts real americans..."

Fri, 11/04/2011 - 15:11 | 1846272 LiquidDreams
LiquidDreams's picture

You know it's bad when even Krugman is calling Europe on their bullshit: http://krugman.blogs.nytimes.com/2011/11/04/not-so-super-mario/

Fri, 11/04/2011 - 15:24 | 1846303 Hedgetard55
Hedgetard55's picture

I wish Nigel Farage was eligible to run for US President.

Fri, 11/04/2011 - 15:26 | 1846314 common_sense
common_sense's picture

TODAY EVENING:

"BERLUSCONI GOES HOME"

OHHHHH...too good to be truth... (may be one of his girlfriends is going to convince him to do it)

 

Sat, 11/05/2011 - 13:55 | 1848817 Dr. Nancy
Dr. Nancy's picture

All that's happening is predictable, as there are 7 stages that every major economy goes through. Those who know how it works profit & massive wealth is transferred to them. Several months ago I learned this information from a millionaire whose site I found & am sharing it with everyone I know.

His free video

"How To Create Incredible Wealth in Today's Economic Crisis"

is at:

http://theelevationgroup.net/presentation/register.php?a_aid=160667&a_bi...

Hope this info helps everyone as much as it has me.

Dr. Nancy

Wed, 11/09/2011 - 06:29 | 1859938 nickadam
nickadam's picture

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