Dissension on the European Treaty /Bailout This Past Weekend Has Already Started in Finland

Finland will only sign “when hell freezes over” 

Rumors of Spain creating a bad bank to unload toxic assets are swirling this morning…

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Predictions from David Zervos

currently up $0.91 @ $14.97

Some are saying that even with interest rate cuts the Euro is head to 1.20 or less against the dollar.

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BIRMINGHAM, Ala.–(BUSINESS WIRE)– Colonial Properties Trust (NYSE: CLP – News), a real estate investment trust (REIT), announced the sale of Colonial Pinnacle Turkey Creek, a 659,000 square foot retail center located in Knoxville, Tenn. for total sales proceeds of $131.7 million. The company had a 50% joint venture interest in the property. The company’s 50% interest was sold for total consideration of $65.9 million, comprised of $27.2 million in cash and the assumption and/or repayment of the company’s $38.7 million share of the existing loans secured by the property. Proceeds from the sale were used to repay a portion of the outstanding balance on the company’s unsecured line of credit and a portion of the proceeds will be used to acquire multifamily apartment communities.

Additionally, the company sold its remaining 5% interest in Colonial Promenade Alabaster II/Tutwiler II, a 420,000 square foot retail center located in Birmingham, Ala. to its joint venture partner. The company’s interest was sold for total consideration of $2.4 million, comprised of $0.4 million in cash and the joint venture partner’s assumption of the company’s $2.0 million share of the existing loan secured by the property. Proceeds from the sale were used to repay a portion of the outstanding balance on the company’s unsecured line of credit.

“The disposition of our joint venture interests in these retail assets is another step in the execution of our strategy to simplify the business and sell our non-core assets,” stated Thomas H. Lowder, Chairman and Chief Executive Officer.

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Gold taking it on the chin this morning.

Gapping up 

ENDP +9.5% , ARRY +4.3%, ARIA +2.3%,  OXGN +23.4%, GNRC +1.4% , THQI +6.5%,

Gapping down

ING -7.8%, STD -2%, BP -1.9%,  SDRL -1.5%, ASML -1.4%, DB -3.5%, SLV -3%, TOT -3%, HBC -2.5%,

FRO -3.8%, MT -3.8%, STO -3.6%,  E -2.1%,

Source

In Play

On the Wires

Don’t forget the Grecian formula of problems.

“Additional tensions are likely to surface as leaders return to their domestic constituencies and, importantly, as the summit’s broad agreements get translated into specifics. This is not only about stress between the 17 eurozone countries and the 10 other members of the European Union (such as Britain) that are not members of the zone. It is also about frictions within each group,”

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Bank run fun…

Here is a look at those companies…

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Brazil is still expected to grow 9.5% in 2012; but this is the second cut in recent weeks.

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Brazil feels they have cut enough to stimulate growth.

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Yields are moving up, but not going parabolic……yet

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Despite recent efforts traders are demanding higher premiums.

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