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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: yard_man who wrote (247932)7/1/2003 1:53:08 PM
From: Haim R. Branisteanu  Read Replies (2) of 436258
 
tippet, if you recall my theory of FX manipulation ahead of the huge GM offering ? .......... now the facts :

Around June 27/30 ...EUR/USD was still mired around 1.1400 - 1.1420. The GM issue settled Monday June 30.

Since yesterday, for what ever reason the EUR rose to above 1.1600 or 200 bp. Those who bought the oversubscribed GM EUR denominated bonds (around 6 Billion) made 1.8% in 2 days ...... a HUGE amount for fix income in ONLY TWO DAYS!!

Still last week various banks were predicting 1.12 to 1.137 EUR/USD.

Now the same monkeys are talking about 1.15 to 1.18 or even 1.2 EUR/USD ....... all of a sudden the trade deficit is again in focus and all other non sense to justify the move.
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