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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: Bill Wexler who wrote (4333)	10/8/2008 3:30:05 AM
From: RockyBalboa	Respond to of 6370

I have never seen something like this. Not even in currency markets which are totally out of order. The implied US Libor reached values between 7% (EUR) and 16% (GBP). Those were tradeable and so far, uncontested rates. The whole derivative market became one big mess. Also there was one tradeable bounce in China where the index would scratch 7568 and go to nearly 8000 one hour later. That didnt stick either. THis was volkswagen revisited. Looks like we have that every day now. ... regarding the USD, something terrible is cooking. I don´t know when and what but what we have seen right now, in the illiquid stuff have been the opening shots. (european central banks pour liquidity into markets which calms things down a bit)...