The "up-to-the-minute Market Data" thread

Spain sells Treasury bills, yields jump

Spain's Treasury sold 3 billion euros ($4 billion) of three- and six-month bills Tuesday, but saw yields rise sharply in the first test of the market since the opposition Popular Party swept to victory in Sunday's general election. The Treasury sold 2.01 billion euros of 3-month bills, producing a maximum yield of 5.22%. A previous sale of bills on Oct. 28 produced a maximum yield of 2.35%. Yields rose sharply across the Spanish curve in recent weeks. Bids exceeded supply 2.85 times, down from 3.67 times in the October sale. The Treasury also sold 965 million euros of six-month bills, producing a maximum yield of 5.33%, up from 3.35% in October. The sale produced a bid-to-cover ratio fo 4.92, up from 2.59 last month.

reply to post by marg6043


MF Global has the farmers a tad bit edgy....

Fed up and frustrated with his broker's collapse and what he sees as the CME's slow efforts to help him retrieve $30,000 in stranded capital, Rietzke says his faith in the futures industry has been shaken to its core.

www.reuters.com...

Originally posted by dawnstar
reply to post by marg6043

 

MF Global has the farmers a tad bit edgy....

Fed up and frustrated with his broker's collapse and what he sees as the CME's slow efforts to help him retrieve $30,000 in stranded capital, Rietzke says his faith in the futures industry has been shaken to its core.

www.reuters.com...

How convenient . . . the ever shrinking agricultural sector gets hit the hardest . . . with their life savings gone, they'll have to sell their farms and it isn't a seller's market out there. So the Monsantos and ADMs and other corporate agricultural interest will be scooping up farms left and right at dimes on the dollar as people will be doing whatever it is they can to survive.

Go figure.

Just another brick in the wall the banksters and corporate greedists are building to consolidate the wealth of this world in fewer and fewer hands.

Debt is the means to control slaves. Despite how much it looks like crookedness, it will be used in particular cases as an excuse to enforce their will on people.

It is amazing, these guys from Supercommitee, they all look so empty-headed. This is a real mockery of Congress and the only purpose of creating this "body". They have absolutely no idea what to do, true robots without orders

www.leap2020.eu...

GEAB N°59 - Contents

Global systemic crisis: 30,000 billion US dollars in ghost assets will disappear by early 2013 / The crisis enters a phase of widespread discounting of Western public debt
As we come to the end of the second half of 2011, it is evident that 15,000 billion in ghost assets have gone up in smoke since last July, just as was anticipated by LEAP/E2020 (GEAB N°56). And, according to our team, this process figures to continue at the same rate throughout the year to come. Indeed we estimate that, with the introduction of a 50% discount on Greek government debt, the global systemic crisis has entered a new phase: that of the generalized discount on Western public debt and its corollary, the fragmentation of the global financial markets… (page 2)
Read public announcement

An on average 30% discount of Western debt between now and early 2013 ... without activation of sovereign CDSs, which appear a vast scam

According to LEAP/E2020, from now through the first quarter of 2013, Western public debt will be affected by a discount of 30% on average. This includes European debts (Euroland, the United Kingdom, the countries of Central and Eastern Europe) as well as the United States and Japan. Of an approximate $45,000 billion, this will mean an extra $15,000 billion that will be transformed into “ghost assets”, leading to a new shock for the global financial system, and contributing in particular to the decimation of Western banks — as anticipated in the GEAB N°58 — and to the loss of an additional $15,000 billion… (page 10) Subscribe

reply to post by dawnstar


I tell you the MF mess is bigger than the corruption behind it, that means Goldman and Morgan doesn't wants anybody to know about it, that had to be the reason fo Goldman trying to buy that entity when it was about to crash to hide the mess behind it, all those entities are one and the same and the powers behind are all under the same names.

Deceptions, deceptions and more deceptions is only one big power running the global economy but hidden behind different entities.

reply to post by surrealist


What is with all that bond selling, who wants to buy trash that have no future rewards at all, no even the US bond can be backed anymore unless the fed ask congress to raise the debt ceiling so the treasury can print more cash.

It makes no sense with all the nations indebted to their darn teeth they still want to sell nothing but trash.

I don't get it. Like I said this are not bonds what they are selling but their citizens humanity.

Ok, I'm calling it here.

8:34am November 22nd, 2011.

Here we go, wheeeeeeeeeee


David Grouchy



[atsimg]http://files.abovetopsecret.com/images/member/fb0b1a21524d.gif[/atsimg]

reply to post by davidgrouchy


Was thinking the same thing after Obama's address last night. But maybe thats what the sell off yesterday was about; all the insiders already knew there was no deal.

www.google.com...

The price of Tear Gas goes up!

(humor)

Tear gas, scuffles as SKorea OKs US trade deal

SEOUL, South Korea (AP) — South Korea's ruling party forced a long-stalled free trade deal with the United States through parliament Tuesday, enraging opposition lawmakers who blasted their political rivals with tear gas.

South Korean lawmakers voted 151 to 7 in favor of ratifying the landmark trade agreement in a surprise legislative session called by the ruling Grand National Party, parliamentary officials said.

Shouts and screams filled the National Assembly as ruling party lawmakers forced their way onto the parliamentary floor. Amid the scuffling, one opposition lawmaker doused rivals with tear gas.

Security guards hustled him out of the chamber as he shouted and tried to resist. Outside the National Assembly building, opponents of the deal scuffled with police mobilized to maintain order.

The pact is America's biggest free-trade agreement since the 1994 North American Free Trade Agreement with Canada and Mexico. Two-way trade between the United States and South Korea, Asia's fourth-largest economy, totaled about $90 billion last year, according to the South Korean government.

After the deal was approved less than an hour after the tussle began, dozens of opposition lawmakers and aides — who fought hard to prevent passage of an agreement they say favors U.S. over South Korean workers — sat slumped around the chamber podium. One legislator leaned her head against the shoulder of another as they both stared at the floor in silence.

Tear gas expands with the the speed of light...

reply to post by DangerDeath


just the laws of supply-demand at work...

what's causing the increased demand for tear gas...

see:

Russian hackers switching on and off today's market?

Reports across the UK that the Bank of England are citing 2008 risks for another high impact event.

Bank of England finds risk of crisis biggest since 2008

Its systemic risk survey of 68 firms showed that 54% of respondents thought the risk of a "high impact event" was high or very high.

It covers the second half of 2011.

High impact events include scenarios such as the break-up of the euro, a UK government debt default, or a financial institution failing.

www.bbc.co.uk...

Given the ramping of such news recently it really does feel they are preparing everyone for an event in the very near future..

For me in the UK the whole Thomas Cook Holidays debt issue at the moment (share prices crash 75% today and 95% since January 2011) seems far too similar to the Woolworths crash that started the 2008 dominoes at ground level in the UK.

I hope I am wrong... but I guess we'll see soon enough if this event occurs and if the dominoes start falling again.

reply to post by DangerDeath


No, is the "Good news of the IMF" (aka Federal Reserve) is promising assistance to trouble nations in the EU, in other words the Federal Reserve will back more debt to assist the IMF into more lending money, where the money will come? if most countries that support the IMF are as broke as the countries in need of the fund? well I guess tax payers money once again come to the rescue but hey we are not privy to know how the Fed funds the IMF, beside what their quota is.

Deceptions, deceptions and more deceptions.

Originally posted by marg6043
reply to post by DangerDeath

 

No, is the "Good news of the IMF" (aka Federal Reserve) is promising assistance to trouble nations in the EU, in other words the Federal Reserve will back more debt to assist the IMF into more lending money, where the money will come? if most countries that support the IMF are as broke as the countries in need of the fund? well I guess tax payers money once again come to the rescue but hey we are not privy to know how the Fed funds the IMF, beside what their quota is.

Deceptions, deceptions and more deceptions.

More like delusions . . . delusions and more delusions.
\
Throwing more money at the problem is akin to throwing gasoline on a fire and thinking in absolute terms the liquid will extinguish the fire despite common sense being the absolute opposite.

I look at as them crapping in their pants and pulling another pair overtop. It just makes them feel abit better about themselves for a very short period of time before the stinky slithering mess travels down their leg and everyone realizes they've crapped in their drawers.

UK at greatest risk of financial crisis since Lehman Brothers collapse

Britain is more at risk of a major financial crisis than it was in the months before the collapse of Lehman Brothers, the country's banks, insurers and hedge funds believe.

A survey of 68 top City institutions by the Bank of England found that 54pc of respondents reckoned the probability of a short-term "high-impact event" to be "high or very high" – a level not witnessed since the survey began in July 2008, just two months before Lehmans' tipped the world into recession.

A high impact event with a high probability in the short term. What would that be? Credit crunch? A European Lehman’s event? Sovereign default or “multiple defaults”?

The findings underline the scale of the crisis the UK faces if Europe's leaders can not strike a deal to calm bond markets. Last week, the Bank warned that the UK was on the brink of a second credit crunch as the eurozone crisis has caused funding markets to dry up.

According to the Bank's twice-yearly Systemic Risk Survey, funding risk is also at its highest level on record, with 57pc of respondents citing it as a major concern – a reading only surpassed by sovereign debt risk and a slide back into recession. Last week's Inflation Report revealed that banks' funding in the three months to September had also fallen to levels not seen since Lehmans collapsed.

Wonder how those funding levels are doing now since September?

Some 68pc of respondents to the Bank's survey raised concerns about European sovereign risk, including fears of a break-up of the euro, disorderly debt restructuring, or sovereign default.

Martin Armstrong

www.martinarmstrong.org...

Gold is a hedge NOT against money, but against political instability. Just when you thought you were living in a free society, the freedoms we once had in the West are crumbling to dust and things could not be taking any worse direction than the latest Monetary Dictatorial Powers as they are unfolding. I began getting wind of something being wrong when a conference attendee from London tried to wire money for his seat. The money went into LIMBO at HSBC and they initially told him they wanted my personal details before they would release the money either to me or return it to the sender. Something was strange for if I had an account in the USA to which funds were to be sent, then the receiving bank was responsible for the “know your client” bull#. It made no sense that HSBC needed my personal details. Eventually they returned the money to the sender only after a month or so. Then it happened again also from the UK. Then it happened from Hong Kong. Something changed. Why should there be a problem with money coming in from any country. The receiving bank has your details. Since this was the sending bank, they did not legally require my details. It began to smell like a rat. It turns out the USA is now tracking ALL wires coming into the country tracing them back to see if the receiver has an offshore account. Good luck on getting a federal judge to uphold your illegal search and seizure rights. They are so desperate for money; they will do anything anymore.

I remember, I read recently, someone tried to wire some money to a friend in Africa, was interrogated about the recipient.... Now this. It really is punishing to use banks as a medium of transaction. You have to be controlled at all times


Ugh!

And if you thought this is bad in the USA, Europe is adopting Hitler tactics when it comes to money. They are now demanding that ALL accounts of Greek citizens be effectively confiscated. They want that money to be taxed so they can pay the bankers, and keep the borrowing game going.

It could all change by morning but the futures are down another 1.25% at the time of this post. I think the MF Global debacle is having affects deeper than anyone has realized yet.

Also China has come out with some poor PMI results:

China manufacturing gauge shows contraction

HSBC’s preliminary China manufacturing survey fell to a 32-month low in November, well below analysts’ forecasts, with the reading signaling the sector is now contracting.

The Purchasing Managers Index printed at 48.0 on a 100 point scale, reversing from a mildly expansionary reading of 51.0 in October, HSBC reported Wednesday.

Consensus forecasts for had called for a 50.1 result, just above the 50 level that separates expansion from contraction, according to CNBC.

HSBC economist Hongbin Qu said the data implied that industrial production would moderate to annualized growth rates of 11% to 12% in the coming months amid cooling domestic and external demand.

reply to post by surrealist

UK at greatest risk of financial crisis since Lehman Brothers collapse

Well yeah. I can't believe after all this talk of crisis in Europe, we never hear about the UK... It's quite ridiculous since most of it's banks are way over-leveraged.

What's funnier, the UK's CDS are still lower then Germany...

Dexia Bailout On Verge Of Collapse, Threatens To Take France AAA Rating Down With It

Having followed the fortunes of the beleaguered Belgian bank from before it appeared on anyone's worksheets, we are hardly surprised that the EU Commission charged with confirming the good-bank / bad-bank restructuring is concerned at the deal that Belgium has with the French (and Luxembourg) government to backstop/finance Dexia's debt. Belgium's De Standaard (and two other European newspapers) today suggests the Belgians fear the EUR90bn deal is 'not feasible' as it stands (with a Belgium 60.5%, France 36.5%, and Luxembourg 3% weighting).

Basically those 3 countries are screeeeeewed if DEXIA goes down... and much of Europe with it probably.

Dexia is BIGGER than Lehman was... about $100 billion bigger... and the difference is that France-Belgium have a way smaller GDP to ``bail it out`` and the entire European banking system is ALREADY on the verge of collapse...

Live Feed From The Protester Occupied Electric Power Company In Athens

As AP reported recently, "protesting power and municipal workers blockaded several state electricity company buildings around Greece Monday, in protest at an emergency property tax being collected through electricity bills. Members of an electricity workers' union cut off power last week to the Health Ministry for four hours, and on Monday blocked the entrance to a site where power disconnection orders are issued. Pharmacies also closed in greater Athens, demanding that state-assisted health insurers settle growing debts. On Tuesday, transport workers are to hold a four-hour stoppage to protest staff cuts."

That's how you protest!


Really really bad if this happens... what Iran will do... what Syria will do... what it will do the oil prices... what China and Russia will do...
"No Fly Zone" Over Syria Imminent?

Albawaba news, which cites Kuwait's al Rai daily, reports that Arab jet fighters, and possibly Turkish warplanes, backed by American logistic support will implement a no fly zone in Syria's skies, after the Arab League will issue a decision, under its Charter, calling for the protection of Syrian civilians.

Which then leads to a sobering conclusion: if indeed Europe and the Western world is dead set upon an aerial campaign above Syria, then all eyes turn to the East, and specifically Russia and China, which have made it very clear they will not tolerate any intervention. And naturally the biggest unknown of all is Iran, which has said than any invasion of Syria will be dealt with swiftly and severely.

Futures Plunge As Fed Discloses New Stress Test: Fears US Banks Will Need To Raise Tens Of Billions In New Capital

Reuters reports: "The U.S. Federal Reserve plans to stress test six large U.S. banks against a hypothetical market shock, including a deterioration of the European debt crisis. The Fed said it will publish the results next year of the tests for six banks with large trading operations. Those banks are Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo.

So why the hell would the FED do this? For the good of the country? What's their ultimate motive? Merge all the big banks into one or two?