The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: Real Man who wrote (50713)	3/25/2013 1:46:43 PM
From: ggersh	Read Replies (1) of 71475

Home is where the Ruble is? -vbg- European Financials Biggest 1-Week Plunge In 8 Months; Russian Ruble Nears 2013 Highs Submitted by Tyler Durden on 03/25/2013 - 12:42 It was all going so well. TV pundits could proclaim their omnipotence - knowing full well that Cyprus was a storm in a teacup - and then D-Bom hit the wires with some harsh reality speak. European banks plummeted - most of Italy's banking system ended limit down, European bank credit spreads blew to their widest in 4 months and bank stocks are playing catch down - as we pointed out recently (with their biggest 6-day plunge in 8 months) and almost negative YTD. Equity indices across the continent saw their biggest drops in a month (since the Italian elections) but it was Spain and Italy that bore the brunt - rightfully so as fulcrum securities. Bond spreads snapped wider (from opening notably tighter) as rumors of an Italy downgrade and Fitch reconsidering the sovereign/banking link didn't help. Swiss 2Y rates held at 0% and while it dropped notably on the day, Switzerland's SMI was the best performing stock market on the day, as the Russian Ruble saw its best day against the EUR in 6 weeks. "Europe is fixed," indeed.

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