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RBS Says To Expect A Spanish Sovereign Bailout Request "Within Days"
Probably not the news those who hopped on the Hilsenrath bandwagon of hope, prayer and bullshit were looking for. From Bloomberg:
- Spain likely to lose market access in near term, and will probably ask for precautionary sovereign bailout MOU “within days,” strategist Harvinder Sian writes in client note.
- ECB can act as agent to EFSF and buy Spanish bonds, lowering yields for Spain; BTPs to benefit by “correlation”
- Due to small size, this backstop would have “no credibility”; excluding risk that Moody’s cuts Spain to junk, ultimately SPGBs and BTPs will head to “double-digit” yields
- Giving ESM banking license is only “high-impact turnaround policy left”; however, Germany likely only to drop opposition to move at close to point of failure for EMU
It also means that those who bought non-local law Spanish bonds are about to be cremated as the PSI rears its ugly head once again. Everyone else who listened to us and bought UK, Swiss and Japanese law near-term bonds, should get taken out at par.
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better call miss merkel..spain needs some money..lol
Great, when it's official, it will be a perfect short setup.
bail them out, this times different!!
Bwhahhaha
Anyone here see an upcoming 'ESM Bank License' headline, with 20-30-40:1 leverage that enables sovereign funding for all, as perhaps envisioned by today's PM buyers pushing Au-Ag up 2% and breaking 10 and 14 month downtrends?
NOOOOO!!! I bought the local-law Spiderman towels!
That was a good buy actually as they are somewhat useful. Spanish Euro's on the other hand maybe not so much in the near future.
The hemorrhaging continues. The patient on last signs of life.
Chief Surgeon: Patient requires 1 Trillion CCs of Bernak.
Surgeon: We have already tried that sir 4 times. Nothing is working.
Chief Surgeon: Just do it!
Surgeon: Bernak administered sir!
Chief Surgeon: What is happening?
Surgeon: Patient going into shock we are losing em!
Chief Surgeon: Fak!
RBS is perhaps the moist ridiculous institution in the world. They know nothing. They pay million pound bonuses when they lose money. They are owned by the UK gubbermint. Those statements are a bunch of freaking gibberish. Harvinder should shut his pie hole. bloomie = zero credibility.
Spain, France want to avoid the embarrassment of another member dropping out of the Euro so take France and Germany for all you can!
Ask for bailout money now and a few more months. The European members can do another dog and pony show and claim the problem is fixed.
CORZINED WITH A DOUBLE LIBOR NELSON
Good thing the Olympics are on, so the sheeple looks the other way.
Where is all this money for bailouts coming from? The LTRO has got enough to bail out all this? If it's all on Germany to bailout all the PIIGS then they should have been crushed a long time ago!
Memorandum of Bullshit
Next Bear Market Leg Beginning http://www.traddr.com/forum/topics/next-bear-market-leg-beginning
Could be rbis lying bastards
Got to get it before the cities and banks do...lol..its a competition....first one in wins....sort of
What if (Spain, Greece, Ireland, etc...) gets no money and simply defaults. Don't all bonds go to zero?
At Credit Suisse Jonathan Wilmot says the solution to this debt crisis is with the ECB. In the meantime, expect more uncetainty, volatility but not the breakup of the euro. Whatch, good video: http://www.thefinancialist.com/ecb-holds-key-to-european-debt-fix-jonathan-wilmot-credit-suisse/
Instead of buying non-local Spanish bonds, wouldn't it be smarter to not buy ANY Euro bond as they all seem to be just wishful promises to possibly, maybe pay if we feel like it.
It seems like they are just giving another fix to a debt addict to avoid a default now but not a bigger default later.
However, the US shouldn't be talking, we are just at a different point on the same journey.
I think you typo'd tyler. Those that brought local-law will get cremated as we head to Spanish PSI, foreign law (as u guys explained like 6months ago lol) will get paid out at par.