Psst: Watch European Bond Spreads in [Market-Ticker]

Posted 2012-02-29 11:12
by Karl Denninger
in Flash

Psst: Watch European Bond Spreads

The ECB was in the market buying Portugese debt, according to Bloomberg.

Both 10y and 2y debt prices slid, and yields rose, prompting the intervention.

The long end rising is not positive at all.

Is this the start of something? Quite possibly, and it bears watching.

Discussion below (registration required to post)

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User Info	Psst: Watch European Bond Spreads in forum [Market-Ticker]
Richardebel Posts: 97 Incept: 2010-11-15	Does this have anything to do with Gold futures falling (-50$)? 2012-02-29 11:20:34 Permalink
Savingsaretheway Posts: 136 Incept: 2011-12-16	The LTRO will ease any stress there shortly. 2012-02-29 11:34:10 Permalink
Patentleathershoes Posts: 10003 Incept: 2007-09-13 On the Daisy Chain	Quote: bears watching We are watching... ---------- "An unborn child's property rights are protected by law. His right to life is not." Ronald Reagan 2012-02-29 11:37:03 Permalink
Mannfm11 Posts: 3620 Incept: 2009-02-28 DFW, Tx	You know the real mess has hit when the yield curve inverts. This is when they are looking for the haircut. It is also when they can't fund their debts out of the short term markets instead of obligating themselves to high longer term rates. I would think the reason gold is down is the ECB said no more and the rumor not too long ago was the LTRO was going to be a trillion euro. 500 billion represents a puke of the banks of cash. ---------- The only function of economic forecasting is to make astrology look respectable.---John Kenneth Galbraith 2012-02-29 12:48:31 Permalink
Throxxofvron Posts: 10448 Incept: 2009-02-17 Hyper-Speculative Psycho-Facsistic Parabolic Blow-Off	IMHO, Italy is going to be the boot that will finally kick the EU's ass. http://www.zerohedge.com/news/strange-ch.... ---------- DIONYSUS: " Thou hast no knowledge of the life thou art leading; thy very existence is now a mystery to thee. " -from 'The Bacchantes' By Euripides During times of universal deceit, telling the truth becomes a revolutionary act. -George Orwell 2012-02-29 13:01:16 Permalink
Mannfm11 Posts: 3620 Incept: 2009-02-28 DFW, Tx	IMHO, the Euro is going to be what finally kicks the EU's ass. That and their insolvent banks. They are attempting the Bernanke band-aid, but their mark to fantasy has already collapsed. I'm still expecting a run on the Euro, as the quality of ECB assets is getting worse and worse. Then they will have demand collapse. I hate to keep on bringing it up, but the first 2 or 3 chaptes of the Bubble that Broke the World, a true recap of what transpired in the 1917 to 1931 time frame is an amazing read. Garret describes what is a bubble very well. He also goes into the insolvency of Germany and how it was covered up with Wall Street loans that eventually went bad and the French taking the gold out of the system, along with the bailout of the Bank of England. Who is going to bail out the ECB? Central banks fail when their assets can no longer redeem their paper. This will be like fighting a fire with fire ants going up your ass. I would guess any of you Yankees don't know much about fire ants, which get on you so fast and bite that you don't realize they are on you until they have already bitten you, which is about .25 seconds after they get on you. http://mises.org/document/3313/The-Bubbl.... ---------- The only function of economic forecasting is to make astrology look respectable.---John Kenneth Galbraith Last modified: 2012-02-29 13:15:58 by mannfm11 Reason: add bubble link 2012-02-29 13:15:15 Permalink
Tesla Posts: 15561 Incept: 2008-04-03 State of Disbelief	Didn't you hear ? The ECB is "well-capitalized" http://www.zerohedge.com/news/ben-bernan.... ---------- "Even a dog knows the difference between being stumbled over and being kicked." -Justice Oliver Wendell Holmes "Neither the wisest Constitution nor the wisest laws will secure the liberty and happiness of a people whose manners are universally corrupt." -Samuel Adams 2012-02-29 14:11:09 Permalink
Salt Posts: 193 Incept: 2010-05-28 NC	Karl, seen this? https://www.youtube.com/watch?v=q5j6Yk0q.... Geithner arrested? Last modified: 2012-02-29 14:18:07 by salt 2012-02-29 14:17:41 Permalink
Pika-steph Posts: 54925 Incept: 2007-09-11 Live Free Or Die; US Army Est. 1775	Quote: Karl, seen this? https://www.youtube.com/watch?v=q5j6Yk0q.... Geithner arrested? WTF?!!!! Did anyone see this live?! ---------- Stop the Looting; Start Prosecuting - http://www.FedUpUSA.org/ "The only regulation that really works is failure."--Rick Santelli 2012-02-29 14:55:28 Permalink
Steelhead23 Posts: 2074 Incept: 2008-09-09 Portland OR	Salt, I watched it. Now, what I truly wish to see is Mr. Geithner in an orange jumpsuit. No wonder Obama has told him to leave. ---------- "Give me control of a nation's money and I care not who makes it's laws" ~~Mayer Amschel Bauer Rothschild~~ Benjamin Bernanke For-profit commercial banks are a menace and should be eradicated 2012-02-29 15:01:29 Permalink
Genesis Posts: 131489 Incept: 2007-06-26	Proof that's real, a FORMAL retraction and apology, or it's a dead account. You guys know the rules on tin in my Ticker threads. ---------- I don't care* if it makes sense -- only if it makes money. -- Me* Bank (n): See scam, fraud and theft. *Eat a bankster -- they're low-carb.* *What part of "shall not be infringed" was unclear?* 2012-02-29 15:02:22 Permalink
Pika-steph Posts: 54925 Incept: 2007-09-11 Live Free Or Die; US Army Est. 1775	It appears to be a real Fox News clip from February 26th. That's all I can find out about it so far. Here's the original post of the video: http://www.youtube.com/watch?v=QXO5bElqn.... ---------- Stop the Looting; Start Prosecuting - http://www.FedUpUSA.org/ "The only regulation that really works is failure."--Rick Santelli Last modified: 2012-02-29 15:07:55 by pika-steph 2012-02-29 15:06:28 Permalink
Wis/min Posts: 5393 Incept: 2009-08-14 On the border	Apparently the video is from May 2011. No mention of arrest. Not cool. May 2, 2011 - 4:31 - Report: Treasury secretary involved in AIG cover-up http://video.foxnews.com/v/3962898/could.... Last modified: 2012-02-29 15:09:13 by wis/min 2012-02-29 15:08:02 Permalink
Landshark Posts: 11662 Incept: 2008-02-07 The Wild West	Karl, it's real... I read about it on godlikeproductions. J/k, I hope it's real. ---------- "America is all about speed. Hot, nasty, badass speed..." Eleanor Roosevelt 2012-02-29 15:08:52 Permalink
Themortgagedude Posts: 8899 Incept: 2007-12-17 saint louis	You know it's real. Hell Judge Nap wouldn't be involved in anything like this otherwise. I trust Judge Nap as much as anyone. ---------- I'm already visualizing you with duct tape over your mouth. 2012-02-29 17:40:12 Permalink
Wis/min Posts: 5393 Incept: 2009-08-14 On the border	Quote: I trust Judge Nap as much as anyone. Except judge Nap. never used the word arrest and even indicated there may be no real problem depending one what was done. Watch the vid. Last modified: 2012-02-29 17:52:20 by wis/min 2012-02-29 17:51:41 Permalink
Jubber Posts: 14642 Incept: 2007-07-05 UK	Interesting, after getting stopped out of my BTP short yesterday the bastard is currently down 100 pips, 1Y Greek just hit 988% although that is pretty irrelevant. However the Euro is down 50 cents this morning... The others have just moved off their recent lows, not sure if this the start of something but Italy 10Y gone from 4.96 to back over 5%, Spanish 10Y 4.87% to 4.95%, Portugal 10Y hit 14% at the open currently 13.77% Could be some delicate plate balancing by the ECB today... ---------- The problem with socialism is that, sooner or later, you run out of other peoples money. Thatcher 2012-03-02 03:48:48 Permalink
Jubber Posts: 14642 Incept: 2007-07-05 UK	Spain's 2012 exports are to slow to 3.4% growth from 9% last year; Government forecasts unemployment rate of 24.3% in 2012... ---------- The problem with socialism is that, sooner or later, you run out of other peoples money. Thatcher 2012-03-02 08:15:27 Permalink

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