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RANsquawk European Morning Briefing - Stocks, Bonds, FX etc. – 26/09/11

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Mon, 09/26/2011 - 06:37 | 1710275 Cynical Sidney
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waves of worrisome news out of the markets, there is no 'positive sentiment' this morning, so brace for insane volatility. investing is out, speculation is in.

if greece goes who's up next?

 

Mon, 09/26/2011 - 14:02 | 1712034 covert
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when the blood hits the streets, that's the time to buy.

-- mayer rothschild

http://expose2.wordpress.com

 

Mon, 09/26/2011 - 06:25 | 1710279 Soul Train
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as the dollar continues to strengthen against the Euro, European equities tied to the export market rally.

US stocks tied to exporting will fall, as this paradigm shift becomes apparent.

The past month or so, US stocks have followed the European lead at opening. Game over as soon as traders figure it out. Will see.

 

Mon, 09/26/2011 - 06:33 | 1710283 papaswamp
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BI reporting (via Bloomberg) Apple just cut iPad orders by 25%....something that has never happend before.

http://www.bloomberg.com/news/2011-09-26/apple-cuts-ipad-supply-chain-or...

Several supply-chain vendors indicated in the past two weeks that Apple, the world's biggest company by market value, lowered fourth-quarter iPad orders 25 percent, the first such cut that analysts at JPMorgan’s electronic manufacturing services team in Hong Kong said they have ever seen.

I suppose this would be the signal that the recession really is here and headed for a depression.

Mon, 09/26/2011 - 06:41 | 1710291 kurzdump
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Forget PMIs, iPad-Index is the new data you are looking for ;)

Mon, 09/26/2011 - 07:20 | 1710323 disabledvet
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The "I want my MTV" moment?

Mon, 09/26/2011 - 06:33 | 1710285 The4thStooge
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did someone forget to tell europe that all their banks are going to blow up very soon?

Mon, 09/26/2011 - 06:58 | 1710300 hondamikesd
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What's several billion shares of dilution of between friends?

Mon, 09/26/2011 - 07:11 | 1710313 reload
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did someone forget to tell europe that all their banks are going to blow up very soon?

 

Good question, my take is that Mr Market has leapt to a couple of conclusions.

Firstly that the uber ESF complete with leverage is going to be used to support/bail out banks - I think the spectre of Nationalisation has receeded somewhat, as this would wipe out/mkassively dilute existing equity holders. The action this morning suggests that the leveraged/enlarged ESF will backstop the banks and that this must be `good`. Resultant Sovereign downgrades be damned.

The second assumtion appears to be that the IMF is already softening up the constituents of its members to expect to be making contributions to the next round (spain, Italy, Portugal & Ireland) fairly soon. The conclusion seems to be that it is `game on` the taxpayers of the world or going to get the bill.

Mon, 09/26/2011 - 07:54 | 1710363 lolmao500
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A few important news...

 

http://timesofindia.indiatimes.com/world/pakistan/Pak-army-defies-US-wil...

Pak army defies US, will not attack Haqqani group: Report

    ISLAMABAD: Pakistan's military will not take action against a militant group Washington blames for an attack against its embassy in Kabul, despite mounting American pressure to do so, a Pakistani newspaper reported on Monday.

http://wtaq.com/news/articles/2011/sep/25/senator-says-all-options-on-ta...

Senator says "all options on table" on Pakistan

    The United States will have to consider all options "including defending our troops" in confronting Pakistani support for militant networks fighting U.S. soldiers in the region, a senator said on Sunday.

    "We need to put Pakistan on notice," Sen. Lindsey Graham, a Republican member of the Armed Services Committee said on "Fox News Sunday."

    "It destabilizes Afghanistan. They're killing American soldiers. If they continue to embrace terrorism as part of their national strategy we're going to have to put all options on the table, including defending our troops."

Mon, 09/26/2011 - 09:51 | 1710883 msmith
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EURUSD - Bearish short term bias with a correction soon.  http://bit.ly/q4VqlC
Mon, 09/26/2011 - 10:21 | 1711024 msmith
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Interesting Gold forecast with a bearish bias for the next sevaral months. http://bit.ly/nUOaNq

Mon, 09/26/2011 - 11:56 | 1711461 msmith
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The S&P (ES) is setting up for another drop soon to below 1100. http://bit.ly/pqc7LL

Tue, 11/01/2011 - 04:51 | 1831027 karmete
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