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Bunds to 1.0%?

Exactly. They just pump idiotic headlines that increases eyeballs on their website that they turn into advertising dollars. They sound like a bunch of college kids who'd blow up in a heartbeat if they were actually trading for a living. Businessinsider.com appears to be using the same model...

It was stupid and schizophrenic of the Germans to join a currency union with half a dozen 3rd world countries while being paranoid about currency devaluation.

@Ralph re previous discussion: Key Lesson From Iceland Crisis: “Let Banks Fail” http://www.ritholtz.com/blog/2011/11/key-lesson-from-iceland-crisis-%E2%80%9Clet-banks-fail%E2%80%9D/ Edit: BTPs going into a tail spin. How long until Supermario gets cold feet and presses the buy button?

Did you watch it at all? The talking head says "No China is not manipulating, all they have is a currency peg". Yes Virginia, a peg is outright and blatant manipulation. Even more so if the pegged currency is manipulated to 30% below purchasing power parity.

China is the biggest currency manipulator.

You forgot to mention that you also believe in the tooth fairy.

Anyone remember the applause for the ECB for their hikes just a few months ago?

Bernanke is waiting for Draghi to run the printing presses on full steam first. Europe's in far deeper shit than the US.

Germans love to buy toxic crap from all over the world. US CDOs, Italian BTPs and Icelandic CDs. Package any garbage and make it yield a few bps over Euribor and the Germans will be interested.

You are arguing their political careers are flushed down the drain with the bailouts. I am wondering how much worse would their approval numbers look had they allowed capitalism to do its job. How would Geithner, Bernanke and Merkel be doing approval-wise had they done the right thing in...

Whatever the egghead politicians cook up it will always be sub-optimal, by definition. What scares me is that politicians keep doing what they perceive helps them win the next election: more bailouts, more transfer payments, more 'we'll fix the economy' non-sense, both in the US and in Europe...

No, I don't think so. AFAIK you get an unsecured claim in court saying that MF Global - a company in bankruptcy - owes you money. Unsecured means there's no asset (like a piece of real estate) that has been designated exclusively as a security for your funds. You're standing in the same line as...

Last thing I heard was talking heads snickering and high fiving that a recession is off the table after the Q3 prelim numbers. Just thinking out loud here: what if the entire Europe and MF Global headline porn is just a sideshow and what we're looking at is a global recession that cripples Q4...

Segregated accounts are great unless someone is caught with their fingers in them like a kid stealing from a cookie jar. The best these poor souls can hope for is getting some unsecured claim against a bankrupt company drowning in debt. Terrible thought.

Some people must have flashbacks of Lehman London Enhanced Margin account money gone missing.

Dick Bove about Lehman 10 days before they went bust 'Lehman is a screaming buy'

LIBOR is priced into equity index futures. There is no benefit in buying SPY vs. buying ES futures other than potentially a difference in tax treatment. If you buy ES futures and then put the remaining collateral into 6% yielding bonds that trade would be identical to putting 100% of your...

Tilson was now telling CNBC he hopes Netflix drops some more so he can buy more of it. Didn't he also short more as it kept going against him from $200 to $275? The 'I hope it goes against me so I can buy/short more' phrase never fails to expose guys who are flying without any risk-management...

Yawn. Same old BS.