iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,413 Blog Posts

European Markets Have LOW ENERGY In Early Trading — Sans American Greatness to Lead Them

In lieu of Europe’s superior anglo-saxon cousins on holiday today, celebrating National Feast, their indices are rudderless — flat to down, as the eurofags are unable to do anything right without their superior cousins across the pond.

The Eurofags 50 is lower by 0.2% — with pretty much zero highlights to talk about at the given time. Nothing. Zilch. Okay, the greaseball adulterers in Italy are higher by 0.43%. Other than that, nothing.

The price of copper, amazingly, is higher again +1.3%. The idea that China is going to be great again under a hardnosed Trump administration — who would rather detonate atomic weapons in Beijing than cede another one sided trade deal to them, is humorous, to say the least. The rise in copper has nothing to do with America or Europe. I’m not even sure Europe has functional economies that require copper anymore, other than to give all of their new migrants something to do — fitting pipes and building temporary housing units for them. Rest assured, the copper trade is 100% China.

Additionally, gold is lower again, off by 0.3% — as gold bugs get stomped the fuck out and flushed down filthy toilets. I am bemused by the whole ordeal.

The German yield curve is a nightmare to look at, with short duration bonds DEEP into negative turf. The whole country is on the verge of irredeemable cuckery.

german

Lastly, keep an eye on both CNY and CNH, trading 6.91/6.947 now. Unbelievably, they’re rigging the shit out of their currency since the election and not a god damned person is calling them out on it. The Yen is tanking again, off by 0.6% v the dollar — now at 113.28. I hope they fall on their sword and lose all of their cars in the Pacific.

UPDATE: The eurofags 50 is now higher by 0.2%. Go get ’em girls!

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