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RANsquawk European Morning Briefing - Stocks, Bonds, FX etc. – 07/12/11

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Submitted by RANSquawk Video on 12/07/2011 07:38 -0400



 

 
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Wed, 12/07/2011 - 07:47 | 1954163 AngryGerman
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Welcome to another glorious morning - sponsored by the squid, soon to be your daily overlord!

Wed, 12/07/2011 - 08:08 | 1954185 Curtis LeMay
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Reuters reports that banks took more than $50bn from the European Central Bank today in its first offering since slashing the cost of borrowing dollars, a sign that some euro zone banks have problems finding dollar funding as the region's debt crisis intensifies.

The ECB said banks asked for $50.7bn in 84-day dollar funds and $1.602bn in the 1-week tender in the operations, in which they are guaranteed to get all funds they requested. The demand was well above the $10bn median forecast in a Reuters poll of money market traders.

Traders attributed banking strains in countries mired in the debt crisis as the main reason for the high amount allocated.

http://www.telegraph.co.uk/finance/debt-crisis-live/8939634/Debt-crisis-live.html

Wed, 12/07/2011 - 11:02 | 1954738 dzyd
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This is a test post.  Thank you for your patience.

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