Its not Greece anymore. That is just what media want to distract your attention away. Its about Italy playing out in the background now. Italy's current 10-year yield is at record high of 6.33% even with ECB coming in to buy Italian bond. When the ...

Risk aversion picking up

EU officials have mentioned that they may hold back the latest bailout fund until they are absolutely clear that Greece accept the bailout terms and conditions. This essentially means that they will only give Greece the money after the referendum if ...

Greek PM wins backing from cabinet on referendum

Currently, the expectation is for QE3 to be activated earliest next year if it is at all necessary. There is also a serious doubt currently on whether QE did more harm than good to US interest. China and the republicans (and basically all the other ...

October 2011 ADP National Employment Report

Give the man a break. He did not borrow the money that Greece owe currently. He is getting all the s_hit and yet everybody including some of his own countrymen blamed him. Look closely at the TV coverage of the past few summits. Many EU official did ...

Papandreou’s Dangerous Game

US GDP just hit 2.5% in latest release. 75% of S&P 500 companies earnings beat consensus estimate in Q3. Unemployment stabilized and showing some green shoots. Slow growth going forward in the near term is more likely than recession. And before we ...

ISM Index of U.S. Manufacturing Decreased to 50.8 in October From 51.6

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Juncker: If Greeks vote 'no,' can’t exclude bankruptcy - Reuters

The article mentioned that 60% of Greeks reject the bailout deal. What it did not mentioned is that more than 70% of Greeks still desire to remain in EU. This more than 70% survey figure comes from Bloomberg. Bailout deal or EU membership?

Greek referendum could mean CDS Greek default trigger

My gut feel is maybe Greece citizen will vote in favour of the austerity measures to remain in EU. Greece needs EU more than EU needs Greece. Normal citizen by nature are risk averse and will likely seek for the most safe choice in time of ...

Juncker: If Greeks vote 'no,' can’t exclude bankruptcy - Reuters

Greece will leave EU and default, if and when their referendum result rejects the austerity. EURO will rally when that happens. It has been almost 2 years since this debt issue surfaced in public media. 2 years should be sufficient for the various ...

Euphoria is Dead EURO is Buried

To launch QE when US GDP is at 2.5%? Contradictory isn't it? Or are you telling me that the 2.5% GDP growth is 'engineered'? Aren't they just slapping themselves silly. They really need to clean up the script better so that it appears more ...

Fitch says 50% Greek bond haircut would be a default event

Friday is expiry date for many options. Option sellers are expected to be defending their strike price vehemently till the last second. Price may be volatile and oscillates against the fundamental. Eventually, the fundamental is gonna catchup with ...

Italy sells eu2.98 bln of 5% 2022 bonds at 6.06% vs 5.86%

Don't you think all these 'good' US news buildup since 3 weeks ago and cumulate with a superb US GDP of 2.5% (higher than before the recession) today that coincide with EU announcement, a bit 'suspicious'. You got to engineer some superb 'good' news ...

US Economy Grew Nicely – EUR/USD Rises

Investor snatching up 10 yr Greek bond today at 24% yield. That is an attractive returns considering that EU taxpayers will guarantee against any default. When you have a virtually risk-free investment asset with attractive yield, the only avenue ...

Rallies, Resumes Short Term Uptrend, Targets The 1.4095 Level

The upward Euro move is not solely just on euro optimism. There is some pricing in of QE3 because a few fed officials are talking about its possibility in recent days. Watch for inflation and employment figures ahead. These 2 are within the Fed ...

Corporate FX Hedgers Think Euro Will Fall To $1.30 This Year: J.P. Morgan

Don't take in the COT report on face value for the following reasons: (1) COT report are history info. It is dangerous to rely on it to give you the trend outlook going forward. For example, just 2 weeks ago, COT revealed that traders are heavy net ...

Corporate FX Hedgers Think Euro Will Fall To $1.30 This Year: J.P. Morgan

Volatility is to be expected for currency pairs that are of low liquidity. I suspect the low liquidity in USD/CHF caused the spike when a huge order came in and in the process triggered other big stop orders along the way. Low liquidity in the ...

Nasty Spike Lower In USD/CHF

Its called an 'controlled orderly release', just like they want a 'controlled orderly default'. Everything must be controlled, restricted, and banned if necessary. This is in the blood of every politicians and the current US administration is the ...

Euro summit statement: the leaked draft

UK. But UK seems to take their debt much more seriously than the rest. There is a good chance that they will not be put on watchlist for downgrade. The risk would be their economy goes into extended recession. So far, the sterling hold the most ...

France Likely to Lose Top Rating: S&P

I am starting to sense that the package is really going to be a solid one. "Comprehensive" as they have called it. Practise good money management if you choose to go short. In my opinion, the risk is to the upside now. US side has shown some ...

Chancellor Merkel cancels statement on EU summit on lack of details for EFSF according to a...

The Greece are asking for it. Now you know why Merkel and Sarkozy is holding back their card. Merkel and Sarkozy has already agreed upon the basic EFSF when they announced that they are going to announce it on this coming weekend summit 2 weeks ago. ...

Greek ruling party MP to vote against labour article of austerity law