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In my view, like many other such generalizations, your statement isn't accurate. Certainly, some German banks are very leveraged and vulnerable (although most of those have been nationalized by now; e.g. Hypo Re, etc). Other German banks (most Landesbanken) simply have a dead business model...

It may raise interesting points, but some of their premises are factually incorrect. As to punctuation, I would have to disagree with you. You gotta be able to express yourself clearly, no matter what setting. Spelling and punctuation are a part of it.

This is not a good essay... Firstly, it's horribly written (did anyone ever tell them there's such a thing as punctuation and paragraphs), which makes it hard to understand. Secondly, even at first glance it contains a whole lot of pure factual errors that suggest to me that the author doesn't...

Me an ECB apologist? That's funny, given everything I've said... Actually, I agree regarding the possible outcomes... It has to be a fiscal etc union for the concept to be viable or there's no future for it.

Most of the stuff that has been bought by the German/French banks in the roaring noughties was bought at par, trust me... I was there and traded some :). Moreover, we know that everything that's in the "accrual", "hold-to-maturity" books (and that's where the majority of the paper sits...

Well, not really... Firstly, they loaded themselves up to the gills at par. Secondly, it's not really them forcing the bailout. Thirdly, they don't get redeemed at par.

The actual number that is consistent with the Treaty definition of "price stability" is set by the ECB Governing Council, which, I imagine, means is "discretionary", according to your definition. http://www.ecb.int/mopo/strategy/pricestab/html/index.en.html

Anything and everything is possible in the world of conspiracy theories...

What monetization? This is the ECB we're talking about...

No, that's completely incorrect... The trade was a 5s30s TIPS breakeven flattener. So it's a trade that consists of four bond positions: long 5y TIPS, short 5y nominal Treasuries, short 30y TIPS, long 30y nominal Treasuries. In general, the position has a positive beta to inflation (i.e...

It's been interesting, to put it mildly...

If you start with $1MM and make 20% a month, it will take arnd 8 years for your return to exceed current US nominal GDP (if my arithmetic is correct). 'Nuff said. Best of luck!

Well, the other worldview has owned the venue for all these debates for a good long time before scientific method came to dominate the scene. Feels like evidence of intellectual progress, innit?

You can't have access to MTS proper unless you're a dealer, as far as I know. You can use BondVision, which is their client front-end.

One word: Grease :)

Well, so far I have lost money fading it... Not sure, really.

The Eurosh1tshow continues... Onwards and upwards to our next victim, the Italian banks.

Well, 3M spot LIBOR/OIS is just the very first fixing, so it's not going to do the trick. See the attachment for the rates you actually want.

Bloomberg/Reuters are the only places I can think of where you can find the OIS and LIBOR/OIS basis swap quotes. Fed H.15 table has the benchmark LIBOR rates.

FF OIS = FedFunds Overnight Index Swap Basically, PV of anything you own is determined by your very own cost of capital (the rate at which you discount future cashflows needs to be equal to the rate at which you fund yourself; otherwise, there's arbitrage). Obviously, it would be impractical...