A nice deal for sure. The rate is less than half that of their 10 year note….
Comments »Monthly Archives: June 2012
Eurozone Industrial Production Falls Less Than Expected
Germany Warns Italy to Stay the Course of Monti Implemented Austerity
Pro growth spending policy talk seems to be fading in Europe as Germany warns that Italy needs to walk the road of austerity.
Comments »Will Merkel Bow to the Union or the Will of the People ?
Merkel stands at another crossroads of history and must make a decision quickly. What can we learn from her background ?
Comments »Greek Bank Deposit Outflows, AKA BANK RUNS, Said To Rise Before Elections
“Greek deposit outflows have accelerated before this weekend’s elections, two bankers familiar with the situation said, on concern the nation may move closer to abandoning the euro.
Daily withdrawals have increased to the upper end of a 100 million-euro ($125 million) to 500 million-euro range this month, one banker said, asking not to be identified because the figures aren’t public. A second banker said the drawdown may have exceeded 700 million euros yesterday. An official for the Bank of Greece (TELL), the Athens-based central bank, declined to comment.”
Comments »The Euro Tades Largely Unchanged Amid Debt Worries
A Chinese Government Adviser Warns That GDP Growth Could Fall Below 7%
Helping to pare gains in Asia, an advisor for China said that GDP growth may fall below 7%. Consensus is for China to grow by 7.9% or more.
Comments »The Aussie and Kiwi Dollars Fail to Sustain a Follow Through Rally
The Aussie and Kiwi dollars were off to a good start last night, but Italian bond yields and the upcoming Greek vote curbed bullish appetite. Gains were pared off and negative territory was entered against 16 major currencies.
Comments »Thailand Leaves Key Rates Unchanged at 3%
Thailand held rates at 3% for a third meeting despite a slowing global economy stemming from Europe. The finance minister stated the Thai economy is not weak enough to warrant a rate cut which has been seen by many other countries over the past few weeks.
Comments »Asia Pare Some Gains After Good Data From Japan and South Korea
Asia was off to a good start, but has pared some gains after some higher yields were seen in both Germany and Italy. Machine orders in Japan did better than expected while South Korea’s unemployment fell.
Comments »Italian Bond Auction Sends Markets Into a Standstill
“Italy’s borrowing costs surged at the sale of 6.5 billion euros ($8.2 billion) of Treasury bills after the 100 billion-euro bailout of Spain’s banking system failed to stop contagion from the region’s debt crisis.
The Rome-based Treasury sold the one-year bills at 3.972 percent, 1.63 percentage points more than the 2.34 percent at the previous auction on May 11. Investors bid for 1.73 times the amount offered, down from 1.79 times last month.
The yield on Italy’s 10-year bond fell 4 basis points to 6.13 percent at 11:54 a.m. in Rome, pushing the difference with German bunds to 463 points. A bigger test for the Italian Treasury comes tomorrow when it sells as much as 4.5 billion euros of longer-maturity debt.”
Comments »Rajoy Declares War On Central Bankers To Counter Crunch
“Spanish Prime Minister Mariano Rajoy said he’s going into battle against European officials led by the Bundesbank who are rejecting calls for the European Central Bank to buy debt from peripheral nations.
Rajoy said he has written to European Commission President Jose Manuel Barroso and European Union President Herman Van Rompuy calling for measures to counter a shortage of credit that is “strangling” economic growth.”
Comments »Global Markets and U.S. Futures Flip Flop Around the Unch Line
Hybrid Movers Under $10
BEAR PORN: EGAN JONES SAYS SPAIN AND ITALY NEED FULL SCALE BAILOUTS
Spain and Italy need a full-scale bailout from the European Union because of their high levels of government debt and the credit quality of their banks, and will likely seek help within the next 6 months, according to Sean Egan, Founding Partner and President of Egan-Jones, an independent ratings agency.
Comments »LMAO
Just stole this from TOSH.O
[youtube://http://www.youtube.com/watch?v=f3kJ7vVtrN8 450 300] Comments »Rumor Has it $FB Wants to Buy Wildfire
“On its Web site, Wildfire describes itself as “an easy-to-use yet powerful tool to grow, engage, and monetize your audience on Facebook, Twitter, YouTube and LinkedIn.”
Facebook, we’re told, is a leading suitor. This makes some sense. Facebook needs to find a way to tax marketers for the value they get out of pushing their products using Facebook’s free tools.”
Comments »Shocking Industry Secrets
Syrian Scum: Assad’s Women and Baby Killers Are Steroid Addled Idiots
Vanishing with the remains of their slaughtered victims, President al-Assad’s pumped up monsters are roaming Syria committing atrocities.
The death squads known as the Ghosts have swooped on villages and massacred women and children – slitting their throats or shooting them at point-blank range.
They disappear with the hacked remains in an effort to cover up their brutality. But experts say there is no mistaking the sickening work of these bearded paramilitary freaks.
Dressed in their unofficial uniform of combat trousers and black T-shirts the muscle-bound thugs are the butchers of Assad’s regime.
Comments »Austrian Minister says Italy too May Need Bailout
VIENNA/ROME (Reuters) – Raising the stakes in Europe’s debt crisis, Austria’s finance minister said Italy may need a financial rescue because of its high borrowing costs, drawing a sharp denial on Tuesday from the Italian prime minister.
Read the article here.
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