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RANsquawk Market Wrap Up - Stocks, Bonds, FX etc. – 22/09/11

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Thu, 09/22/2011 - 16:29 | 1698739 Shitters_Full
Shitters_Full's picture

Somebody get that hippie a shave and a haircut!

Thu, 09/22/2011 - 16:31 | 1698747 John Law Lives
John Law Lives's picture

DJIA closing price on Apr 1, 1999  =  10,789.04

That is not much of a return over the past 12+ years...

 

Thu, 09/22/2011 - 16:35 | 1698757 rocker
rocker's picture

The Market did not capitulate today. How much lower will they go?

Thu, 09/22/2011 - 16:36 | 1698764 pupton
pupton's picture

What time do the Asians start buying all the gold & silver that was sold today, 6PM?

Thu, 09/22/2011 - 16:51 | 1698832 Manthong
Manthong's picture

Oh.. I don't think the Orientals, Indians or Europeans will want anything to do with the shiney stuff now that it's been proven to be a toxic as well as barbarous relic.

Thu, 09/22/2011 - 16:57 | 1698862 Tsar Pointless
Tsar Pointless's picture

I'll say it on this thread, too.

Next week is end-of-month and end-of-quarter. We've seen the lows for the month.

S&P over 1200 again by next Tuesday.

Thu, 09/22/2011 - 17:32 | 1698953 max2205
max2205's picture

See this?
"Chinese Banks Face Crisis as Deposits Plunge. Deposits at the big 4 state-owned banks, including Industrial and Commercial Bank of China Ltd. (ICBC) (601398.SH, 1398.HK), Bank of China Ltd. (601988.SH, 3988.HK), Agricultural Bank of China Ltd. (601288.SH, 1288.HK) and China Construction Bank Corp. (601939.SH, 0939.HK) fell by about RMB 420 billion during the first 15 days of September from end August, reports China Securities Journal. The huge drop in deposits led to a significant decline in new loan growth by the big 4 banks during this period, with only RMB 87 billion of new loans extended. According to industry insiders, net outflows of deposits from banks usually occur during times of bullish stock markets. The current situation of high inflation, stagnant property market and sluggish stock market, could mean that the deposits may have been invested in wealth management products, trusts, art collections, or in the illegal lending sector. According to the report, bank employees in Wenzhou, Dongguan, and Fuzhou, had already withdrawn their deposits and had lent to illegal money lenders in the grey market at interest rates which are 10 times higher than the one-year deposit rate. Insiders said the high rates of return from the illegal lending sector may have led to approximately RMB 3 trillion of bank deposits being diverted to this sector. Due to the rapid fall in deposits, the daily average loan to deposit ratios of some small and medium-sized banks are close to, or have hit the regulatory limit of 75%. These banks are actively reducing the size of their loans in order to meet regulatory requirements for the loan to deposit ratio, and some of the smaller banks had utilized their loan quotas in the first few days of August, added a number of insiders from the banking industry. Large banks too suffered from the drop in deposits, with Bank of China lending only RMB 1 billion in the first half of September, while Agricultural Bank of China lent RMB 10 billion. During the same period, new loans granted by ICBC and China Construction Bank were RMB 50 billion and RMB 30 billion, respectively. In order to meet a deposit shortfall of RMB 100 million, a bank is offering customers rebates on seven-day deposits , said an insider.

Thu, 09/22/2011 - 20:58 | 1699486 msmith
msmith's picture

Plenty of continued USD strength ahead. The AUDUSD pullback offers an opportunity to join the downward trend.  AUDUSD Market Report  http://bit.ly/rr0vEZ

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