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Glen48 said:
If the left get elected in Greece on 17th then the market will go up, the right are elected then the market will go up.
IF Spain Greece etc default then the market will go up, think they are all waiting for Big Ben to order more ink and printing plates.
As printing has never work maybe this one will.
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All futures are up.

Sunshine & lollipops for all... :bananasmi:
 
http://www.activistpost.com/2012/06/obama-seeks-us-congressional.html

USA feds are pushing for arms reduction while ordering millions of non approved by Geneva rounds for DHS as well as selling arms to drug dealers.
Do the FEDs know a depression is coming and it is going to be bad and therefore disarming every one is in the Feds interest.
As you can imaging the Yank are up in arms( oops) and madly stocking with guns seller's stopped taking orders while they catch up with orders for 1Million a month.
 
HoWs this interesting tidbit from the moneymorning newsletter ...

Look at the bond yields for other countries: the so-called safe havens of the US, German and French bonds. Recently they hit the following multi-century lows.

The US 10-year bond yield hit a 200-year low.

The German 10-year yield reached a 200-year low.

The French 10-year set a 260-year low.

These are incredible statistics. But the Dutch bond market takes the cake.

The Dutch 10-year yield got to a 500-year low!
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Amazing stuff huh !?
 
In the meantime, Spanish Yields...

European Yields: 10-yr: unch..1.571%..USD/JPY: 79.01..EUR/USD: 1.2600
European yields are mixed this morning following the New Democracy's victory in the Greek election. The party's leader, Antonis Samaras, must now form a coalition government. Spanish yields are at euro-era highs this morning with the 10-yr up close more than 45 bps to above 7.25%. Italian yields are also spiking higher as an advance of 20 bps has the 10-yr up to 6.10%. Elsewhere, French yields are inching higher after President Francois Hollande's socialists won a majority in parliamentary elections. The French 10-yr yield is up 2 bps at 2.59%. Safe-haven buying can be found in both German Bunds and U.K. Gilts with their 10-yr yields down close to 5 bps a piece to 1.40% and 1.61% respectively.

Read more: http://www.briefing.com/GeneralCont...Briefing.aspx?CustomPageId=3734#ixzz1y9fPDatA
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Spain has hit 7,28% word is big Ben will kick off QE3 Wednesday
 
young-gun said:
I understand 7% n up is considered 'ynsustainable'.. Does anyone know how long it can be sustained for? Weeks, months, years?
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7% is the level where other PIGS nations needed a bailout. The majority of debt is not serviced at that level yet, and it would take years to refinance that debt i would think. Its a physiological level more than anything.

McLovin could elaborate i reckon...;)

CanOz
 
CanOz said:
7% is the level where other PIGS nations needed a bailout. The majority of debt is not serviced at that level yet, and it would take years to refinance that debt i would think. Its a physiological level more than anything.

McLovin could elaborate i reckon...;)

CanOz
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I can try.:)

I think, iirc, they have to raise eur300b in the next three years. At 7%, they'd be paying over 10% of revenue in interest (and growing rapidly). Personally, I think the bigger issue is the sustainability of their public finances, automatic stabilisers (running counter-cyclical fiscal policy) are supposed stimulate demand during recessions, the problem is that isn't happening. There's only so long that you can run a 10% deficit. If you're running 10% deficits year after year then the interest rate you are being charged becomes secondary to the certainty that you won't be able to repay.
 
German Bailout:

So, Angela Merkel arrives at Passport Control at Athens airport.

“Nationality?” asks the immigration officer. “German,” she replies.
“Occupation?” “No, just here for a few days.”








 
I suspected the world might be saturated with wotsits and gizmos and it seems it is .....

NEW YORK (CNNMoney) -- Got an LCD TV? Apparently, so does the rest of the world.
The LCD flavor of flat-screen TVs are by far the most popular, making up 84% of the market, yet demand for them is waning. Shipments of LCD units declined for the first time ever, dropping 3% to 43 million units in the first quarter, according to an NPD DisplaySearch report released Wednesday.
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Those pesky Italians have been partying hard too !

The main*glaring risk threats that could propel Italy down the path to become Europe's next domino is the size of country's outstanding debt (at €1.9 trillion or 120% of GDP); the mountain of debt it has to roll over in the next 12 months (nearly €400 billion); and the market's cracking credibility around Prime Minister Mario Monti's ability to reduce the country's fiscal footprint and spur growth.
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Debt's Drag*- We begin by looking at Italy's debt profile. At 120% (as a % of GDP) –the second highest in Europe behind Greece””its debt servicing load will equate to €400 billion over the next 12 months alone.
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Thats alot of Ferrari's to sell Luigi !!

Unemployment Hooking - Another grave dynamic is the underemployment across Italian youths at 39%. While short of the 50.2% for Spanish youth, combine "a lost generation" with Italy's demographic headwinds of an aging population (near oldest in Europe) and you have a cocktail that puts great pressure on social services, and the debt and deficit loads in the years ahead.
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What a mess .....

http://finance.fortune.cnn.com/2012/06/21/italy-risks/
 
And it seems people have enough Chinese trinkets -

Chinese manufacturing activity hit a seven-month low in June, data from HSBC showed, putting pressure on Beijing to do more to boost the world's second largest economy.

The banking giant said preliminary figures from its closely-watched purchasing managers' index (PMI), which gauges the manufacturing sector, fell to 48.1 in June from 48.4 in May on shrinking exports and weak domestic demand.

The June figure also marked the eighth consecutive month that manufacturing has contracted. A PMI reading above 50 indicates expansion, while a reading below 50 points to contraction.
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aWWWW, SHOOT!

Unca Benny's pep talk only lasted 24 hours. :cry:

:1zhelp:..we need some Sunshine & Lollipops from Herr Schwann & his trusty sidekick Jools to restore the Faith.

Lemme guess - Ozzies will cop a mass media reassurance rocket from the pair within the next coupla hours. Sweeeet! We'll all feel betta then, huh?

Chiz,

:rolleyes:
 
numbercruncher said:
Hows this for a scary statement !



http://www.thebull.com.au/articles/a/29276-4-dirt-cheap-coking-coal-stocks.html
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Hmmm from that link

Although China has the capacity to meet most of its coking coal needs internally, Chinese demand affects the price of coking coal elsewhere. Analysts at Macquarie Bank report that at the end of April 2012 crude steel output in China actually hit a new record of 743 million tonnes, annualised; and this despite dire predictions and much gnashing of teeth over China’s slowing economy. This news sent the spot price of coking coal higher and the Macquarie people expect it to go higher still in coming months, albeit at a slower pace.
Macquarie and Woods are not the only ones sharing this point of view. US coal juggernaut Peabody Coal also anticipates rising - not falling - Chinese steel production. A Peabody analytics team highlights the point that steel consumption per capita in China, India and Brazil is currently well below other developed nations, such as Japan. Peabody estimates that approximately 1.2 billion tonnes of coking coal is needed in order for per capita steel consumption in China, India and Brazil to match the levels of Japan, Taiwan and Korea.
The truth is that while coking coal explorers and producers have taken a severe beating, the price of coking coal has held up better than many other metals.
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