Thursday, November 17, 2011

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I see and am considering your morning list.

http://www.truth-out.org/

http://www.truth-out.org/what-america-looks/1321471600

The situation affects me.
OWS has a very good point. Participation would take over my existence.

http://krugman.blogs.nytimes.com/2011/11/17/default-inflation-the-blooey-factor-and-the-rubicon-effect/

http://krugman.blogs.nytimes.com/2011/11/17/subsiding-inflation/

http://2012.talkingpointsmemo.com/2011/11/marcus-bachmann-to-gay-rights-activist-pay-up.php?ref=fpb

http://tpmmuckraker.talkingpointsmemo.com/
Nothing unexpected.

http://science.slashdot.org/story/11/11/17/1533254/recreating-a-mysterious-2100-year-old-clock

Eurozone GC is splitsville

Posted by Izabella Kaminska on Nov 17 16:15. Comment.

Something strange is up in the world of ‘General Collateral’. And since eurozone funding markets are increasingly dependent on collateralised rather than unsecured loans, these are important developments that could be influencing rates elsewhere. More…

The ECB-IMF-Italy roundabout switcheroo

Posted by John McDermott on Nov 17 15:57. Comment.

The idea that the ECB could lend money to the IMF, which in turn would lend to Italy (and/or Spain), is no longer idle speculation. US markets are abuzz with the possibility, and officials at the two institutions are mulling it over, More…

Getting a little Spanish bond yield perspective

Posted by Lisa Pollack on Nov 17 14:11. Comment | Share

On Thursday there was an auction of Spanish 10-year date, aka mega headline-grabbing European peripheral sovereign benchmark debt. The sovereign found itself paying a euro-era high of 6.975 per cent for the €3.56bn of issuance. More…

Cultural mishaps of a Kazakh bank

Posted by Alastair Marsh on Nov 17 13:40. Comment | Share

Lightning never strikes twice…unless you are a Kazakh bank.
Or more specifically, unless you are BTA Bank. Remember them? The largest bank in Kazakhstan before the credit crisis, which defaulted on $12bn of debt in 2009?
Well, More…

The Bank of Beard (or Northern Virgin)

Posted by Neil Hume on Nov 17 13:25. 7 comments | Share

Is the sale of Northern Rock to the Grinning Pullover a deal for UK taxpayers?
Chancellor George Osborne says it is:
The sale of Northern Rock to Virgin Money is an important first step in getting the British taxpayer out of the business of owning banks. More…

An existential crisis in Eurozone rates

Posted by Izabella Kaminska on Nov 17 12:18. 6 comments | Share Presenting the three-month EURUSD currency basis swap, currently trading at approx -137 bps:
Though, clearly things aren’t quite as bad as in 2008 (yet).
But they are at post Lehman records. More…

http://www.zerohedge.com/news/market-collapses

Market Collapses

Submitted by Tyler Durden on 11/17/2011 12:42 -0500

Update: Just out from Reuters which could be causing the plunge: No Plans for Financial Assistance for Italy From EFSF
The ES just fell off a cliff. For now there is no news: some speculation attributes the move to news that the supercommittee has been a catastrophic failure and no decision will be reached, but we knew that. Another reason is attributed to Fed member Sandra Pianalto stating that Europe is heading for a recession but that is not news either. Most likely just a case of HFT stop as technicals get hit as the EURUSD slides and selling begets selling. Yes, it is a "broken market" for a reason. Watch for the blame HFT crowd to come out in force in a few minutes on the financial comedy basic cable stations.