Global Macro Trading Journal

Quote from Daal:
"Whether the EFSF can safely be increased is unclear. Yield spreads between German Bunds and 10-year EFSF debt have widened from 66 to 112 basis points since early July. If yields creep much higher, the fund itself may become a problem."

This is from AEP at the Telegraph. Does anyone know what he is talking about EFSF spreads?Maybe this is a synthetic number that is the weighted avg of all members CDSs?
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Nah, it's the actual yield spread between the where the current existing EFSF issues trade and the comparable maturity bunds.
 
stopped myself from long Euro trade at 1.36 and reversed, very tight stop: 20 pip on this one, target: 50-100 pip.

I gave back 50% of profits, but that was a conscious decision trying to pyramid my profits 2-3x.
 
Quote from Martinghoul:

Huh? Where did you hear that?
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It's all over the news here.

Long term interest swaps they forgot to hedge which blew up in their face so they say....

"Nobody could have known the Eurocrisis would escalate again this summer" is the CEO response...
 
Quote from Debaser82:
It's all over the news here.

Long term interest swaps they forgot to hedge which blew up in their face so they say....

"Nobody could have known the Eurocrisis would escalate again this summer" is the CEO response...
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Could you pls send a link?
 
Yep, thx...

I think this might be the usual case of the press getting ahead of themselves. I don't think this is the case of them being naked short. I think they fell victim to the same thing that killed DEPFA (Hypo Re) before them. So, as always, death by funding or, rather, lack thereof.
 
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