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US Tremor Now Hitting Europe Where Germany Is In Freefall
Europe was leaking on slower growth expectations and ongoing pain in Spain but the US NFP print hit it while it was down and stumbled the already-underperforming German DAX - now down almost 4% on the day. Interestingly the Italian and Spanish yields and yield spreads are compressing modestly (doesn't seem at all clear why unless desperation has brought the rest of LTRO money off the table among Spanish banks - though Bund relative weakness may explain it - though rumors of ECB buying are out - after 4 months off). Bunds are underperforming notably as 10Y TSY - 10Y Bunds drops 7-8bps from this morning's highs - did another safe-haven just get dissed?
European Equity Index performance today...DAX dumping
Treasury-Bund Spread...
Spanish bonds are rallying - though in context it does not seem too incredible (since for a start we suspect the marginal player is long-seller not a short-add). It seems like EUR96 is the ley level for the 10Y Spain bond and maybe the ECB rumors are correct...
Charts: Bloomberg
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Where the hell is Bob Brusca??? I need to laugh at a failed Wall St. economist...........
http://www.zerohedge.com/contributed/2012-14-05/job-growth-and-economic-improvement-are-real
He's on the way - he's still on the short bus wearing his "Pobody's Nerfect" T-shirt...
Is it a bird? Is it a plane? No, it's a cliff.
Ooops... I just love the smell of naked fear in the morning...
A Puetz eclipse crash window is now in effect:
http://thespiritoftruth.blogspot.com/2012/05/puetz-eclipse-crash-window-...
That site said the same thing in December just before the Christmas rally. Sure it fits this time, but you know what they say about a broken clock.
Astrology is occult and that's how the powers that be maintain control over those of you who refuse to believe in the unseen which also renders you defenseless against it.
The sun square reveals their true nature. All rows, columns, and diagonals add to 111. Triple digit numbers are sacred to them. The numbers in the sun square, 1 to 36, add up to the number of the beast, also triple digit. All numbers 1 to 666 add up to 222111, more triple digits. Sun worship is luciferian, and has been encoded into reality where the enemy has dominion over all who do not see.
- Isaiah 47:13-14
You are wearied in the multitude of your counsels. Let now the astrologers, the stargazers, the monthly prognosticators, stand up, and save you from these things that shall come on you. Behold, they shall be as stubble; the fire shall burn them; they shall not deliver themselves from the power of the flame: there shall not be a coal to warm at, nor fire to sit before it.
...and a hockey helmet.
Covered in gold stars and unicorn stickers no doubt...
He's with MDB dollar cost averaging Fecebook
He is out there being manipulated by the parasites.
edit *** no one could have seen this coming
pkumnging. Is that even near a word?
It's "Plunging" if you miss with yout right hand 1 key row to left.
Speaking of plunging, how about that new Snorgtees girl with the Venn diagram shirt? Love the strawberry blonde. Much better than the tighty-whitey "Meh" girl.
I dont get those adds anymore, just local stuff. :(
It's also "Look out below!" if you have really, really fat fingers and Bruno Iksil is you proofreader/risk manager.
It's "Plunging" if you miss with yout right hand 1 key row to left.
What's a "yout"?
(Fred Gwynne, RIP)
Isn't timmay over there? Maybe he can provide some soothing words.
/moan
Timmy Quixote is over there buying windmills.
Yes he is here in Europe with Lagarde (They went to Spain) But they are not discussing a bailout, I think she (Lagarde) is there for a game of soggy biscuit ;) (Coz the bailout will never come)
Maybe she's gonna take that pasty twit to the tanning salon to get him some color?
Lagarde: It is my pleasure to introduce to you the American Secretary of the Treasury, Timothy Geithner.
(Polite clapping)
Lagarde: Mr. Geithner will like to say a few words.
Geithner: OH MY GOD WE'RE ALL GONNA DIE!!!! WE ARE SO SCREWED!!! RUN FOR THE HILLS! RUN! ARRRGGGGHHHHH!!!!
Lagarde: Er, Thank you Mr. Geithner.
Viva Monte Carlo!!!
Settle. We'll be here for a while.
By "We" you mean you and your fellow Continentals? Love thy neighbor (even the French). Give to everyone that begs (even the Greeks).
After a while, when you have loved and given all you can, we'll have an open bunk for you here on Paper Street, Gene.
I have my passport(s) ready always.
'We' remain joint at the hip. Periphery looking for a way out.
My take? Read what Zbig has been saying. You'll find that 'Europe' is now a secondary issue as the 'Pivot to the Pacific' begins.
Burn baby burn....
no where to run to, no where to hide ...
We all were expecting a global dump in order to usher in QE 3.X. Here it is.
Now the only question is........how low will they push it. Remember, 1258 on the S&P is EVEN for the year. Max Pain is much lower than that.
1202 on the S&P is a major trendline
Three word summaries, Bitchez!
DIVE, DIVE, DIVE!
TORA, TORA, TORA
That is either 6 words or 2...
two words :
mora wife; it means go do your wife, usual punishment for being frustrated feudal; the serf pays.
Here is a mora song :
swallow a little of that sea
now taste a little bit of that salt in me
throw up a little of it on your knees
now doesn't that bring you back to the beginning
before you poured your elements away
now sing back to the bottom of it all
Read more at http://www.songmeanings.net/songs/view/3530822107858675815/#Qb6CMqlkmpkRc7FW.99
And why is the ibex so frothy, those fuckers should be running around flailing their arms more than even Greeks
Couldn't happen to a nicer bunch of state planners. End of Merkel's Reich.
More incentive for Germany to leave EZ for mark. Yes, it will hurt their exports a bit, but they'll still be fine, can control future better than in this nightmarish EZ of debt saturation. Global recession gives them cover. Sooner is better.
I can smell the sweat from here, or was that from me riding to the coin shop during my lunch break?
You may well have been sweating, but I suspect the others were shitting thmselves.
lmao (hard)
I LOVE the smell of massive global deleveraging in the morning....
Water seeking it's own level....
Dear Germany, do not worry. Austerity can work wonders fo you like it has for the Greeks. Show the rest of the world how it's done.
Now that's interesting,Germany 2 year vs DKK.The battle for D-Mark has begun.
so the swiss will become the first to offer the first negative nominated papers? *g*
I think both the fundamentals of the global economy (mainly in Europe) as well as technical indicators seem to point out that the stock market continue to fall before it starts to rise. As this goes against Bernanke's plan and increases the risk of the destruction of the Euro, it is possible to see the Fed and ECB trying to take desperate measures (QE3?). In any case, there are great opportunities to make money with these trends.
EURCHF slowly creeping closer to 1.2... The wolves are at the SNB's door
Today I will be recreating the sounds of the trading floor.
"AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAARRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGHHHHHHHHHHHHHHHHHHHHHHH"
I was thinking it would be the more subtle sound of pens scribbling "goodbye cruel world" on post-it notes...
Nah - one thing traders have in abundance is a the 'belief' in the market (and failing that Government)
They are counting on someone saving them - I think they make lots of noise to worry the paymasters.
I think we'll find out today - the DAX is in freefall.
Remember the 'good old days' of 2008 when +5% falls on world markets was a 'regular occurence'?
Ahh - memories....
Looks like the DAX has a touch of Montezuma's Revenge...
Is everyone figuring out that all roads of European debt lead to Germany?
Must be time to print to infinity!
EUR/USD is rocketing right now over 1.24. Game not over yet.
what game? this is a roller coaster and it'll go on all year long and way into 2013.
The moar you know: http://translate.google.com/translate?sl=de&tl=en&u=http://www.spiegel.d...
Almost 14,000 German employees now jobless as a result, 2,800 stores will be closed.
What are these people thinking!?!?!?!? Equities are where it's at.
I can't see how developments in Spain, Greece and Italy can be seen as anything but bullish. The NFP was great, hey we added jobs!!!!
/sarc off/
And the rush for the exits continue:
BofA’s Chief Equity Strategist Kikuchi, 4 Others Resignhttp://www.bloomberg.com/news/2012-06-01/bofa-s-chief-equity-strategist-...
damn look at the EUR/USD...no intervening there, nah..
Now more than every Germany needs a Merkel.
I bought 180,000 dollars worth of gold at 1800 an ounce what do I do now? I was listening to all you PM bulls. What do I do now? This 1.3 percent rally isn't enough today. I lost 30,000 dollars already.
http://www.youtube.com/watch?v=PRA_9_djcPo
You didn't lose anything until you sell it.. Hold on tight.. If you spent that much for a quick turn around profit, you deserve what's coming.. If you bought it to hold it, don't worry about it..
Thanks Vader. Was a long term buy. I thought Gold was going to 5000 an ounce. I guess I'll just dollar average and leverage my credit cards to make up for the loss.
Just be thankful you didn't buy into any of Robot's momo pump-n-dump stocks at the top.
Either you are Tom Thumb, or green giant, king of sweet peas gone brown, or swedish smorgasbord gone stale. Maybe you are a Saab now become relic of history. The first of a long list. Hang in there by 2020 you will be rich or six foot under. Remember Sweden had a queen called la Reine Christine and a king called Gustavus Adolphus. That should be some solace to your viking blood. I think you have a good sense of humor. lol.
PS : I have invented an either/or with THREE options, I must be a WS banksta!
You need to dollar cost average.
If you had just put $10K every month or so, you'd have a much better cost basis. Putting the whole thing at an obvious high is asking for the situation you're in now. But now that you're here, be patient.
You also need to think of think of gold as a dollar hedge. Gold went down, but everything else you own went up in dollar terms. Finally, you're buying gold for the fundamental fact that all fiat currencies are being debased through money printing, or QE to infinity as Jim SInclair likes to call it. If they had stopped creating new credit you could panic.
Good, the faster the asset levitated ponzi deflates the faster the reset will occur. Its time the Oligarchs lost some of their ill gotten "funny money" wealth. By the front door of stock asset collapse; not by the back door of banking derivative shenanigans. IN OPEN DAYLIGHT.
30-yr. bund yield an astonishing 1.67%
Berlusconi just came out and said Italy should leave the Euro, if the ECB doesn't print and that Germany should leave the Euro if it doesn't agree.
ROFL. NOW we're talking - and by the way, 80% of EU voters agree with the ex-Italian PM. The deflationary abyss yawns. Bernanke can print all he wants to now, and we won't see inflation.
Berlusconi Says ECB Must Print Euros or Italy May Say ‘Ciao’http://www.bloomberg.com/news/2012-06-01/berlusconi-says-ecb-must-print-...
Feels to me like banks punishing Merkel for failure to say yes to the next big bailout of the banks over there by pumpiing money, somehow, into Spain and Greece, saving the banks from the end of the EU and the Euro.
drumroll please........ FUCK THIS SHIT ITS FRIDAY!!!!