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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 386.47-0.2%Dec 5 4:00 PM EST
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To: 2MAR$ who wrote (84240)12/7/2011 6:10:01 PM
From: TobagoJack  Read Replies (2) of 218243
 
just in in-tray

acting man update:

Central Bank Disaster Planning & Credit Markets Chart Update
Apparently the euro-system central banks are busy with 'hush-hush' contingency planning in case an 'unforeseen shock' leads to a break-up of the euro area. There are so many foreseeable shocks by now that it seems almost superfluous to plan for the unforeseeable ones. Interesting is that the disaster plans take as their premise the insolvency of a big commercial bank and how that might snowball. In this context, it looks like Germany's second-largest bank is about to be nationalized - unless it miracolously finds a way to replenish its capital in a timely fashion.


Other banks in the UK and Europe have begun to irk their subordinated bondholders by buying up their own debt at steep discounts.

Also, another brief look at the Greek stock market, which has declined further and has now officially hit the same percentage decline as the DJIA in 1929 to 1932. A new Greek stock market ETF will begin trading at the NYSE tomorrow.

All credit market charts updated - CDS prices and yields are bouncing again slightly, but CDS on Greece are really taking the cake. At 9,949 basis points, not much is left to the imagination. It now costs $9.95 million to insure $10 million in Greek debt. That's a complete wipe-out in technical terminology.


acting-man.com
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