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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Finally bankia is nationalized in espana. No wonder the spanish 10yr bond yield spiked almost 100bps yesterday... http://www.marketwatch.c...2012-05-09?link=MW_pulse$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 11/13/2006 Posts: 551 Location: Nairobi
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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UK bookmaker suspends betting on a Greek euro exit - http://uk.reuters.com/ar...s-idUKL5E8GA4RN20120510
If there was an admission that the euro is about to unravel in a nasty fashion, this is the unofficial notice. When the casino owner closes shop without warning and doesn't pay the chips, well hit the exit doors while you can... Quote:And if you fear Greece is just the beginning of the end for the European single currency, Ladbrokes is offering odds on the euro ceasing to exist by the end of 2012, which would make punters 33 times their original stake.
Ladbrokes said it had "plenty of support for the 33/1 on offer the currency was scrapped entirely this year". $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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JP Morgue forced to eat a humble pie as their eurozone derivatives take in excessive water. Thank you sparta & france for your curveball election results. With JPM booking massive losses we should see the weaker banks book equally massive losses as elections in euroland continue to throw hammers in the works. Such derivative losses will be hard to hide & I can hardly wait for some to start going bust like MF Global. Euro banks  http://www.nypost.com/p/...amp;utm_content=Business$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Where has all the stock trading gone?http://www.businessweek....-the-stock-trading-gone
Yep. A query that is bothering many exchanges globally post GFC. At a time when most exchanges mounted a recovery almost back to the highs of pre GFC with vapour volume, one wonders about the sustainability of such an incredible recovery with worsening global economy conditions. With machines (HFT) mostly the ones trading amongst themselves, it will be interesting to see when they are finally switched off... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 11/13/2006 Posts: 551 Location: Nairobi
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Rank: Member Joined: 11/13/2006 Posts: 551 Location: Nairobi
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@Hisah, guess who was meeting yesterday... "May 9 (Bloomberg) -- Credit-default swaps market leaders will meet this week in New York and London to discuss changes to the contracts in what may be the biggest revisions since 2009. The International Swaps and Derivatives Association’s credit steering committee will meet May 11 to discuss changes, said Steven Kennedy, an ISDA spokesman. Possible amendments to standard contracts, which are governed by ISDA, include how debt-for-equity exchanges would be treated after a bankruptcy, specifying that credit swaps only cover losses from defaults that occur after their purchase, and clarifying how the date of a so-called credit event is determined, according to people familiar with the situation...." Read more: http://sfgate.bdc.bloomb...1KEC70D6N0O2H0RBST9DVJ6
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Something for goldbugs... http://www.scribd.com/do...167019/Market-Update-May$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Amazing charts as the euro debt bomb unfolds... Sparta's 10yr bond yield - spiking back to March 2012 heights when hellena was saved   Espana's 5yr CDS rates - highest on record today!  Espana's bank borrowing - parabolic as can be...  US 10yr treasury futures - melting up. Let's see how the Fed will QE (crank up the money inkjets) at this rate!  It is getting interesting  $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Spanish banks' borrow record sum from ECB - http://www.rte.ie/news/2...eal-new-provisions.html
Quote:Spanish banks have found it hard to borrow money from banks in other euro zone countries because many in Spain are heavily exposed to the property sector, which has been in a slump since a bubble burst in 2008. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Moodys downgrades as many Italian banks... http://nasdaq.com/articl...ecession-20120515-00008
These rating agencies should be put out of business. Useless their ratings are. Ponzi ratings. Euroland debt bomb is difusing so ratings are useless!? $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Greece 10yr bond yield still spike. Their is a bond payment for today which is due... In the process the euro is selling off as caution creeps into the financial markets...  Meanwhile Morgan Stanley finds itself facing protesters during its AGM today... http://www.businessinsid...reholder-meeting-2012-5
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Just in the wires - Greece to hold new election, jolts euro markets.... http://www.reuters.com/a...s-idUSBRE84E0SX20120515
Quote:Attempts to form a government in Greece collapsed on Tuesday, jolting financial markets at the prospect leftists opposed to the terms of an EU bailout could sweep to victory and nudge the euro zone crisis into a dangerous new phase.
The turmoil in Athens sent waves around other troubled members of the 17-nation European single currency area. The euro slipped below $1.28 while Spanish and Italian bond yields rose above the danger level of 6 percent as investors scurried for shelter in safe haven German Bunds.
The acceleration of sellers continues... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 11/13/2006 Posts: 551 Location: Nairobi
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I'm bullish on Africa, are you? "Brazilian billionaire André Esteves has launched the biggest private equity fund for Africa, promising to raise at least $1billion for investments in areas such as energy and infrastructure. With the move, the 43-year old billionaire Esteves signals the ambition of his investment banking firm BTG Pactual to fight for control of the emerging markets, which are scoring fast-clipped growth, at a time when European economies are slugging with negative growth rates and record-high employment, in particular with their youth. Spain’s economy has ‘double-dipped’ into recession, for the second time in three years. In April, the UK economy fell back into recession––a performance of the economy in the past four years that has been the worst in peacetime for at least a century..." Read more: http://www.avcanet.com/index.php/page/news/58
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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karanjakinuthia wrote:I'm bullish on Africa, are you? "Brazilian billionaire André Esteves has launched the biggest private equity fund for Africa, promising to raise at least $1billion for investments in areas such as energy and infrastructure. With the move, the 43-year old billionaire Esteves signals the ambition of his investment banking firm BTG Pactual to fight for control of the emerging markets, which are scoring fast-clipped growth, at a time when European economies are slugging with negative growth rates and record-high employment, in particular with their youth. Spain’s economy has ‘double-dipped’ into recession, for the second time in three years. In April, the UK economy fell back into recession––a performance of the economy in the past four years that has been the worst in peacetime for at least a century..." Read more: http://www.avcanet.com/index.php/page/news/58
Kool $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Italy calls in army amid fears of elections violence. This Sunday Italians go to the polls and as we've seen in Sparta and France, I expect the anti-austerity tune to continue... Anti-austerity has spooked eurocrats now they're calling in the military... Egypt made in Europe is coming. Sparta goes back to the polls on June 16th... Aint I loving this euroland drama http://rt.com/news/italy...-elections-violence-272/$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Interesting headlines on euroland... One would think the world is surely coming to an end. Greeks withdraw $894 million in a day: Is this beginning of a run on banks? - http://worldnews.msnbc.m...-of-a-run-on-banks?lite
Could a Greek Bank Run Go Global? - http://www.huffingtonpos...k-run-go_b_1514808.html
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Capital flight from where into where?
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Cde Monomotapa wrote:Capital flight from where into where? To the mattress and that's a lot of thick paper mattress and pillows $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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