Derivati USA: CME-CBOT-NYMEX-ICE BUND, TBOND and the middle of the guado (VM 69)

[gipa69]

volete ridere ?
adesso ZeroScemo grida che l'Italia abbassa la soglia dei pagamenti in contante a 5000 euro per esercitare il controllo suille transazioni, e il sistema bancario è insolvente

Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
As part of its new austerity package, any cash transactions over 5,000 euros ($6,188) will be banned in an effort to crack down on tax evasion, a government source said on Monday, reports Reuters. "Reducing the ceiling on cash transactions, which currently stands at 12,500 euros, forms part of the package of public sector hiring and wage reductions and spending cutbacks being prepared by Economy Minister Giulio Tremonti, the source said. The limit will also apply to cashiers' cheques." Yet another insolvent banking system comes to light, as all major transactions must occur within confines of Italy's financial institutions. We are confident this "simple" toggle will promptly fill Italy's empty tax coffers. Or not.


E ci sono 113 commenti
Ormai che ZeroHedge sia uno che non c'è con la testa è chiaro, ma mi chiedo:
chi lo legge, è da meno ?

Io lo uso solo per qualche interessante report come Edwards, il perma deflazionista... per il resto la sua credibilità se l'è giocata già da tempo.

 

[gipa69]

fatto alcuni acquisti....

 

[f4f]

fatto alcuni acquisti....

 

[Fleursdumal]

well well e anche il nostrano come lo spoore è arrivato a toccare la coda dello spike crasharolo , pronto ad entrare appena si innesca lo squeeze degli ultimi short entrati succoso gap da colmare
gli stirs stamattina facevano orrore a guardarli , l'eurodollaro guida sempre la picchiata e son tornati anche questi sui livelli del crash , insomma fanno percorso parallelo agli indici

 

[Fleursdumal]

trovato con google
ellapeppa si inizia a ballare


http://www.crainscleveland.com/article/20100524/SUB1/100529948/1006&Profile=1006
Declining value of euro bad deal for Ohio exporters
4:30 am, May 24, 2010
Greece is the word — and it’s a bad word for Northeast Ohio companies either exporting to Europe or facing European competition as they sell machine tools, software or anything else into the world’s fast-growing developing markets.
That’s because as the European Union has struggled to prop up Greece, which has been close to defaulting on its national debt, its euro currency has tumbled in value. The euro was worth more than $1.50 in U.S. dollars last November, but lately it has been worth only about $1.25.
That’s a drop in the euro’s value of about 17%. If it doesn’t sound like much, imagine your competitor’s product just got 17% cheaper without it lifting a finger — because that’s effectively what has happened as the dollar’s strength relative to the euro makes U.S.-made goods more expensive to buy in Europe and more costly than European-made goods in countries beyond the continent.
“It’s going to hurt Ohio,” said Ned Hill, an economist and dean of the Maxine Goodman Levin College of Urban Affairs at Cleveland State University.
“Ohio builds a lot of the equipment used to build economies, and we frequently get involved in developing countries — in competition with places like Germany,” Dr. Hill said. “So the end result is, thanks to Greece, Germany just got cheaper, and Italy just got cheaper.”
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i zinesi che dicono

 

[Fleursdumal]

questo dovrebbe seguire quel rapporto di citi che gipaXXX citava ieri

Beware the ides of money funds, Libor

Posted by Joseph Cotterill on May 25 12:17. Libor laments notwithstanding, this was a big jump on Tuesday:

RTRS-LIBOR THREE-MONTH DOLLAR RATES FIX AT 0.53625 PCT VS 0.50969 PCT ON MONDAY -BBA
11:56 25May10 RTRS-LIBOR THREE-MONTH EURO RATES FIX AT 0.63875 PCT VS 0.63438 PCT ON MONDAY -BBA
11:56 25May10 RTRS-LIBOR THREE-MONTH STERLING RATES FIX AT 0.70813 PCT VS 0.70188 PCT ON MONDAY -BBA
​

Ouch. Big move in the three-month dollar rate.
But here’s IFR’s Divyang Shah with another reason to expect Libor to go even higher:

…some of the upward pressure on LIBOR may be related to money market funds shortening duration as a result of the changes to 2a-7 money market regulations that come into effect from next month. These rule changes will require money market strategies to 1) hold a minimum of 10% overnight and 30% seven-day liquidity and 2) reduce the weighted average portfolio maturity limit from 90-days to 60-days. We saw early on in the crisis the impact that money market funds had on the post-Lehmans environment when LIBOR/OIS spreads really took off and accelerated following the breaking of the buck by Reserve Primary Fund in Sept-2008.
​

Ah, Reserve Primary — for reference’s sake, largely the inspiration for 2a-7 reform.

As providers of term liquidity the impact of money market funds could be significant and thus what we are seeing on LIBOR rates may not be so much a shortage of dollars, counterparty risks or the impact of European sovereign risk. Instead the markets are reflecting a shortage of term liquidity and while the ECB is still offering 3-month and 6-month money via LTROs the Fed has stopped their TAF (and other liquidity providing acronyms) and thus the pressure on USD LIBORs. It’s not that the market is reflecting new risks but simply that risk is being priced into the USD money market as the Fed is playing a lesser role as an intermediary. We might see upward pressure on USD LIBOR ease next month but the rates are likely to stay elevated reflecting the new normal liquidity balance in the money markets.
​

Another data point in the new normal for Libor, then. Assuming we avoid a smash along the way.
Plus, it’s interesting to spot another liquidity question-mark over SEC rule 2a-7.
We’ve recently noted how this regulation will also effectively make it impossible for money funds to invest in securities that aren’t rated A1. This has implications for big US banks’ repo market access, in the event that financial reform costs them the credit ratings lift they’ve derived from being “too big to fail”. Of course, whether any effects on repo would be truly distortive is up for debate.
At the same time, Felix Salmon on his blog says that bank credit ratings aren’t useful at the best of times, hence we should discount the effect of any downgrades.
Perhaps. But the dull plodding nerds may beg to differ.

 

[gipa69]

europa debolissima... usa piu tonici.. ma io mi aspetto prima o poi un reverse di questa tendenza....

 

[Metatarso]

i zinesi che dicono

Bah ho letto qualcosa ieri, per ora lamentano il rischio del freno alla ripresa, ma credo che il danno sulle loro schifezze sia relativamente poco...

In fondo loro hanno solo merdate di infima qualità. Se prima compravi un container di cinesate, che ne so, di rubinetti o di lettori mp3, li pagavi 1 micromillesimo di euro... che differenza fa se ora li paghi 1,3 micromillesimi ?

 

[Fleursdumal]

Bah ho letto qualcosa ieri, per ora lamentano il rischio del freno alla ripresa, ma credo che il danno sulle loro schifezze sia relativamente poco...

In fondo loro hanno solo merdate di infima qualità. Se prima compravi un container di cinesate, che ne so, di rubinetti o di lettori mp3, li pagavi 1 micromillesimo di euro... che differenza fa se ora li paghi 1,3 micromillesimi ?

beh loro già vendono con margini ridottissimi , quando non riescono più a governare il cambio a loro favore e anzi gli va in faccia l'è finita
anche i jap stanno messi male

 

[f4f]

beh loro già vendono con margini ridottissimi , quando non riescono più a governare il cambio a loro favore e anzi gli va in faccia l'è finita
anche i jap stanno messi male

allora è vero che l'euro basso alla fine ci avvantaggia ?