China Buys Greece
Everyone just waiting for that rumor that will fix everything. The reality is Greece is heading for hard default and too many people are saying it won’t happen that it cannot be priced in. We haven’t had a good ugly overnight session in awhile. Maybe tonight is the night? European credit closed very weak. The […]
Black Swans, White Crows, And Doves
We can briefly switch our attention from Greece and Apple and see just how dovish the Fed is. I think pretty dovish but minutes that don’t sound like their we’re table pounding demand for immediate QE may disappoint the market. The amount of money that has been seen chasing yield since the announcement has been […]
Nigel Farage – Worth Watching
I’m not sure that he has a plan, but at least on polician has the courage to point out what is happening to democracy in Greece and the Greek people http://www.zerohedge.com/news/farage-greek-chaos-you-aint-seen-nothing-yet
March 20th – Bridge Loan? What’s The Cost?
I think that the EU is making this stuff up as they go along. A report talks about a “bridge loan” for the March bond payments. Scary, but that would add about 8 billion to the cost of the bailout. These bonds were expected to be part of the PSI, so 50% of the principal […]
(ANA) Greek gov’t speeds up Piraeus port privatization procedures
If Greece is setting up for some post default money, selling this to China would be a pretty good option. +——————————————————————————+ Greek gov’t speeds up Piraeus port privatization procedures 2012-02-15 14:33:09.613 GMT Greek gov’t speeds up Piraeus port privatization procedures Feb. 15 (ANA-MPA) — The Greek state on Wednesday transferred 5,775,000 […]
March 20th Bonds And The Latest Greek Headlines
There is now talk about delaying implementation of the bailout until after the April elections. That at least makes some sense. See if the people support the austerity with an election. It also makes sense because it deflects the market’s attention for a little while so that everyone can prepare for an “orderly” default. As […]
(BFW) Euro Zone Ponders Delay of Second Greek Programme, Reuters Says
This story makes no sense. What about the March bonds? +——————————————————————————+ Euro Zone Ponders Delay of Second Greek Programme, Reuters Says 2012-02-15 13:20:12.693 GMT By Gaurav Panchal Feb. 15 (Bloomberg) — Package could be put off until after Greek elections, Reuters says; cites several EU sources said on Wednesday. * […]
Credit vs Equity. Logical vs Illogical?
S&P futures have moved more than 20 points since 3:30pm. The first big move was on the back of a story that Greece really will commit to the whatever the EU demands. The second move was after China re-pledged to invest in Europe. IG17 is about 1.5 bps tighter than the wides of the day […]
ZeroHedge’s Comment On The Latest Greek Rumor
ZeroHedge’s comment on the latest Greek rumor is about as good as it gets. Samaras letter is allegedly worth far more than the paper it’s written on. It is worth almost a 1% move in the stock markets of the world, I wonder if the EU will cherish it quite as much? We all know we […]
Is It Proper Etiquette To Break Up With An SMS?
I guess I shouldn’t be thinking about break-ups on Valentine’s day – that hallmark of Hallmark holidays – but with the EU switching from a summit to a conference call they are either finally worried about the money spent on all these summits (doubtful) or are trying to figure out a way of saying no […]
