Market Stalls As LCH Announces Margin Hikes On Italian Debt

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Wed, 11/09/2011 - 03:24 | 1859813 slewie the pi-rat
slewie the pi-rat's picture

margin hikes are soooo risk-0ff, BiCheZ!

Wed, 11/09/2011 - 03:31 | 1859819 phyuckyiu
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Wed, 11/09/2011 - 03:35 | 1859823 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Hike gold margins, c'mon, bitchez!  It won't be like we haven't seen that before.

Physical, biatchez!

Wed, 11/09/2011 - 05:11 | 1859894 French Frog
French Frog's picture

How about this scenario: the ECB buys enough Italian Bonds today so that the basket of yields' level/spread used to determine whether a margin hikes HAS to take place is not enacted: that should be enough to kick the can down the road for another day or maybe until at least the weekend.

Could they?

Wed, 11/09/2011 - 03:32 | 1859821 Mr Lennon Hendrix
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Fiat Ponzi is sooo risk off,,,, bitcheZ!

So is gold, you know that though.

Wed, 11/09/2011 - 07:42 | 1860016 BandGap
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You want fries with that?


Wed, 11/09/2011 - 03:31 | 1859818 YesWeKahn
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Bernanke has the solution: print.

Wed, 11/09/2011 - 03:32 | 1859820 qussl3
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Crude above 95 and Brent 115 says not anytime soon.

Wed, 11/09/2011 - 03:37 | 1859824 The Shootist
The Shootist's picture

Seemingly. Stagflation anyone?

Wed, 11/09/2011 - 03:48 | 1859836 Mr Lennon Hendrix
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Yeah, sort of, but stagflation istoo 70's.  This is worse.  We need new terms.  As of now, this is more than one word.  This is the Greatest Depression meets inflation meets deflation meets woops!  Sorry!  You bought into the Fiat Ponzi!

Wed, 11/09/2011 - 04:09 | 1859854 Non Passaran
Non Passaran's picture

Hyperstagflation, some call it.

Wed, 11/09/2011 - 04:25 | 1859868 JLee2027
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Toilet bowl swirl.

Wed, 11/09/2011 - 04:34 | 1859875 css1971
css1971's picture

It's just a simple rebalancing of the economy.


From paper delusions to physical reality.


Wed, 11/09/2011 - 08:55 | 1860223 Seer
Seer's picture

Fiat Ponzi is a poster child for the paradigm of perpetual growth on a finite planet.

Yes, it's going to be bad.  As I've been stating, economies of scale in reverse is going to be a harsh experience.  Here's how this kind of thing looks:

How do they keep from closing down?  Raise prices?  That'll further smack down demand!  There's no way out of this.

Wed, 11/09/2011 - 03:56 | 1859840 qussl3
qussl3's picture


Wed, 11/09/2011 - 03:39 | 1859830 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Yeah good thing Bernanke is raising rates, so to quell speculation.  I mean, you know, no QE, right?  He is just keeping rates at 0%, that's all!  He wants a strong dollar.  He wrote about it.  "A strong dollar will raise exports, bla bla bla!"  Bernanke, an econonomic genious, ivy league scholar, smartest man of this world!

Wed, 11/09/2011 - 05:08 | 1859892 NewThor
NewThor's picture


can raise unicorns 

in 15 minutes.


Wed, 11/09/2011 - 03:42 | 1859833 Dick Darlington
Dick Darlington's picture


In panic, kill democracy (TM)

Wed, 11/09/2011 - 03:50 | 1859841 Mr Lennon Hendrix
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Democracy didn't work with abundant oil.  Maybe it will work when people have to walk to work.  Let's spin the wheel and find out.

Wed, 11/09/2011 - 05:05 | 1859890 NewThor
NewThor's picture

You can spin a wheel without oil.

so there is that


Wed, 11/09/2011 - 06:29 | 1859939 JesusUp
JesusUp's picture

yeah, like hydrogen may work , even


Wed, 11/09/2011 - 05:48 | 1859914 Dick Darlington
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And some more from the delusional dictator:

 Nov. 9 (Bloomberg) -- German Chancellor Angela Merkel said
the referendum plans announced in Greece last week during the
Group of 20 summmit in Cannes showed that domestic policies in
any one country impact the entire euro region.
     “What we got in Cannes was the feeling that there is no
such thing any more as domestic policy making,” Merkel was
cited as saying in an interview with Deutsche Presse-Agentur
published today in English. “Domestic is what’s inside the
currency area. Greece can no longer decide all by itself the
issue of whether it should hold a referendum or not.”
     The decision in Greece, which was subsequently overturned,
“had ramifications for all of us because the dependability of
decisions taken by the 17 was suddenly endangered,” Merkel was
cited as saying. “All the other 16 were just as affected by
this referendum decision.”

Wed, 11/09/2011 - 07:30 | 1860002 Schmuck Raker
Schmuck Raker's picture

"Greece can no longer decide all by itself the
issue of whether it should hold a referendum or not."


"We're All Greeks Now."


Wed, 11/09/2011 - 04:00 | 1859850 LikeClockwork
LikeClockwork's picture

Someone break it down for me nice and gentle. How should this play out for the coupon/yield within the next couple of days?

Wed, 11/09/2011 - 04:19 | 1859860 slewie the pi-rat
slewie the pi-rat's picture


ok.  i'll try

  • IF we ass-u-me that raising margins tends to dampen speculation = risk-0ff
  • THEN money tends to got into Treasurys = yield declines
Wed, 11/09/2011 - 04:25 | 1859869 LikeClockwork
LikeClockwork's picture

I see yield has pulled back slightly. For now.

Wed, 11/09/2011 - 06:44 | 1859959 Arius
Arius's picture

edit ?

Wed, 11/09/2011 - 04:22 | 1859861 slewie the pi-rat
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but in riskier bonds, hy-yield & junk,

then those yields might go up

Wed, 11/09/2011 - 04:12 | 1859855 Blank Reg
Blank Reg's picture

And I saw, and behold a white horse: and he that sat upon it is called Schiff:  And a bow of silver; and a crown of gold was given unto him. And he thus spake: By these signs shall I go forth, conquering and to conquer.

~ Book of Revaluations

Wed, 11/09/2011 - 07:30 | 1860003 Gene8696
Gene8696's picture

And I stood upon the sand of the sea, and saw a beast rise up out of the sea, having seven heads and ten horns, and upon his horns ten crowns, and upon his heads the name of blasphemy... the euro.

Wed, 11/09/2011 - 07:33 | 1860007 Schmuck Raker
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Wed, 11/09/2011 - 08:01 | 1860012 Blank Reg
Blank Reg's picture

spake [speyk]  vb

Archaic or dialect; a past tense of speak. (Geeze, crack a book sometime)

Fri, 11/11/2011 - 20:46 | 1871339 Schmuck Raker
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I'm well aware of the definition of 'Spake'.

I gave you a +1 cuz I like the fact you used it.

'Behold' also usually brings a smile to my face.

And, 'Nigh' is da bomb!

Wed, 11/09/2011 - 04:14 | 1859858 lolmao500
lolmao500's picture

So every french bank is about to blow up... NICE.

Wed, 11/09/2011 - 04:24 | 1859865 JLee2027
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Yeah yeah. They always get right to the brink and then it reverses. Watch the Italian 10 year do the same thing. How amazing.

Wed, 11/09/2011 - 04:28 | 1859871 HD
HD's picture

Sadly, I have become just as jaded. Reality doesn't seem to matter. Fundamentals certainly don't matter. Lies, spin and hopium - now they matter.

Wed, 11/09/2011 - 04:29 | 1859872 Peter K
Peter K's picture

We need a positive EUR/USD rumor, and fast:)

Wed, 11/09/2011 - 05:01 | 1859885 slaughterer
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The will come up with another positive EUR/USD rumor by 3 pm.  They always do, don't they? 

Wed, 11/09/2011 - 05:01 | 1859887 Brooklynnative
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Does Tyler never sleep or are there more than one writers using that name?  

Wed, 11/09/2011 - 05:10 | 1859893 UK debt marsh
UK debt marsh's picture

There are a bunch of smart little tylers behind the curtain

Wed, 11/09/2011 - 06:06 | 1859922 HD
HD's picture

BLASPHEMY! There is only the one and true Tyler. Non-believer will be cast into the hell fires of CNBC - where they will forever tormented by "the Cramer"...a fate worse than death to be sure.

REPENT now and save yourself! The truth shall set you free.

Wed, 11/09/2011 - 06:11 | 1859924 NewThor
NewThor's picture

Some chick told me Tyler is Putin.

Chicks are crazy.

Wed, 11/09/2011 - 06:19 | 1859928 HD
HD's picture

I apologize in advance...

  I guess she was..."Putin" you on!

    And again, I apologize.

Wed, 11/09/2011 - 06:53 | 1859964 Arius
Arius's picture

ZH has offices in Switzerland and london, therefore, there is someone else being paid to update the site .... just a guess there is only one tyler per se, but several employees ...

Wed, 11/09/2011 - 05:13 | 1859895 Cassandra Syndrome
Cassandra Syndrome's picture

Italian Bond Yield Inverts. The yields are exploding as we speak.

Wed, 11/09/2011 - 05:23 | 1859902 Flounder
Flounder's picture

Just saw BTP at 6.903%.  Intervention coming?

Wed, 11/09/2011 - 05:26 | 1859905 Cassandra Syndrome
Cassandra Syndrome's picture

6.97%. About to hit 7%. Complete panic sell off this morning.

Wed, 11/09/2011 - 05:17 | 1859897 chump666
chump666's picture

wow Italian 10yr just went into orbit.  german bund/italian bond spread = default +CDS wipeout. 

Wed, 11/09/2011 - 05:28 | 1859906 hondamikesd
hondamikesd's picture

F5'ing Bloomberg ITA 10 yr watching yield tick up at every click... the wheels are falling right the fuck off.

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