The "up-to-the-minute Market Data" thread

EU Crafts $962 Billion Show of Force to Halt Crisis
www.bloomberg.com...

May 10 (Bloomberg) -- European policy makers unveiled an unprecedented loan package worth almost $1 trillion and a program of bond purchases to stop a sovereign-debt crisis that threatened to shatter confidence in the euro. Stocks surged around the world, the euro strengthened and commodities rallied.

Jolted by last week’s slide in the currency and soaring bond yields in Portugal and Spain, European Union finance chiefs met in a 14-hour session in Brussels overnight. The 16 euro nations agreed in a statement to offer as much as 750 billion euros ($962 billion), including International Monetary Fund backing, to countries facing instability and the European Central Bank said it will buy government and private debt.

The rescue package for Europe’s sovereign debtors comes little more than a year after the waning of the last crisis, caused by the U.S. mortgage-market collapse, which wreaked $1.8 trillion of global credit losses and writedowns. Under U.S. and Asian pressure to stabilize markets, Europe’s governments bet their show of force would prevent a sovereign-debt collapse and muffle speculation the 11-year-old euro might break apart.

“Europe wants to give the impression that they are not dealing with the crisis on a piecemeal basis and are addressing it in a comprehensive fashion,” Venkatraman Anantha-Nageswaran, who helps manage about $140 billion in assets as global chief investment officer at Bank Julius Baer & Co. in Singapore, said.

The Latest US Taxpayer Bill To Save Europe: $57 Billion
www.zerohedge.com...

The Latest US Taxpayer Bill To Save Europe: $57 Billion

And if the numbers I've read are true, Canada is giving Europe around 30 billions... which compared to GDP, is 5X more than what the US is giving... sick.

reply to post by Vitchilo
CNBS is stating Bank Stocks are soaring now...Wheee...

www.cnbc.com...

Think I'm going to puke...

www.justin.tv...
www.indexq.org...
finance.yahoo.com...
finviz.com...

Summary Of The Biggest Bail Out Ever: Even Keynes Is Spinning In His Grave
www.zerohedge.com...

Europe has now followed the Fed in its all in move to prevent the disintegration of the euro and of Europe. As we expected, the EU was leaking various rumors to gauge market interest, and as speculated earlier, the final cost ended up being just short of one trillion. Here are the key summaries:

* EU Crafts $962 billion show of force to halt crisis
* Full blown monetization: ECB will buy public and private bonds
* Fed reactivates swap lines with Bank of Canada, BOE, ECB, BOJ, and the SNB

In other words, total and unprecedented monetary lunacy, as every cental bank, under the orchestration of the Federal Reserve, will throw money at the problem until it goes away, which it won't. As we have long expected, Bernanke is now willing to sacrifice the dollar at any cost to prevent the euro unwind. This is nothing than a very short-term fix, whose half life will be shorter still than all previous ones.

The race to the currency devaluation bottom is now in its final lap. And gold is the only alternative to the now imminent collapse of the fiat system: the world had a chance to take writedowns on losses, punish those who took risk and failed, and refused to do so. There is now no risk left, but it only means that eventually all the risk will come back and lead all capital markets to zero. The result will be the end of Keynesian economics as we know it. Do not trade in this broken market, do not hold your money in a bank as they are all now one hour away from a terminal bank run - buy and hold real, FASB mark-to-myth independent assets.

Here is Goldman's take on the reaction:

Full Details On The European Bailout From Bank Of America
www.zerohedge.com...

[edit on 5/10/2010 by Hx3_1963]

I was kinda ``happy`` with all that financial doom in the last few years... because I didn't care because I had nothing. But then things changed and my family has now millions of bucks... and they won't listen to me...

And that pisses me off. The whole thing is about to go down, and with that money we could prepare so we can help people when it all goes down...but of course that won't happen since all the money will just disappear... sick.

Geez-o-pete...to da Moon Norton!

London 5378.93 255.91 5.00% 10:37
Paris 3686.91 294.32 8.68% 11:37
Frankfurt 5980.02 264.93 4.64% 11:37
Turkey 56207.58 3520.61 6.68% 12:37
Hungary 23544.92 2121.26 9.90% 11:36
Austria 2513.86 202.09 8.74% 11:37
Poland 41691.86 1768.28 4.43% 11:36
Czech 1220.70 74.10 6.46% 11:36
Sweden 999.30 54.74 5.79% 11:52
Finland 6726.58 463.36 7.40% 12:51
Norway 334.68 16.86 5.30% 11:37
Greece 1791.56 161.09 9.88% 12:36
Italy 21276.30 1775.55 9.11% 11:37
Luxembourg 1439.86 79.97 5.88% 11:49
Netherlands 331.25 18.90 6.05% 11:37
Iceland 580.66 2.63 0.46% 10:35
Denmark 395.63 24.51 6.61% 11:52
Switzerland 6469.03 263.40 4.25% 11:37
Spain 1048.19 114.16 12.22% 11:35
Portugal 2327.30 -70.22 -2.93% 05/07
Ireland 3184.59 201.88 6.77% 10:37
Israel 1161.55 33.41 2.96% 11:31
Egypt 639.58 19.68 3.17% 11:52
S. Africa 24535.29 937.27 3.97% 11:37
Jordan 2518.65 45.54 1.84% 12:37
UAE Dubai 1743.11 30.21 1.76% 13:36
Abu Dhabi 2789.58 37.55 1.36% 13:36

reply to post by Hx3_1963


Yo dude, can you explain to me what's going on? anything out of the ordinary? Im quite new to stocks and shares.

EDIT: Ok im starting to see what's wrong here, 9% in hungary etc... italy bad... france bad.... but could you explain in lamens terms, what that means?,

[edit on 10-5-2010 by Mr Zeropoint]

My god those people are high as hell. +9.9% in Hungary? +8% in France? WHAT?

Why don't they change the name to LET'S MAKE MONEY MARKET?

This is UTTER RIDICULOUS.

Mr Zeropoint : It means people are high on weed. They've smoked a ton of weed each. Because to believe that this bailout will save anything, you've got to be high.


I think I'm go do a tour at university to laugh at my economic teacher when he said last year that the whole ``recession`` would be over by september 2009.

MWAHAHAHAHAHAHAHA YOU KEYNES FANATIC! Every time I brought Meses he laughed at me... YEAH WHO'S RIGHT NOW SUCKA?

[edit on 10-5-2010 by Vitchilo]

I thought the markets were crazy before today but christ this makes no bloody sense at all to me. How can the markets function with such huge swings and are we going to see these crazy numbers swinging in both directions up and down or is the a rapid reclaim of the losses last week and nothing unusual?

All it means is the rich are getting richer and blood sucking, while most of us will always be poor and will not have any effect on us.

Blood suckers are just the reason why markets are up today.

I wish Keynes was never born... crazy nutjob...

But You Love Bailing Out Greece, Right?

You must.

The IMF's piece of this thing is allegedly €220 billion, or about $286 billion as I type this.

Since the US is "required" to contribute 17% of the IMF's funding, this means you, the taxpayer, have just been hit for $48.6 billion to cover the debts of nations who spend more than they make - and no, they're not the United States (or the states IN The United States.)

It gets better. The Fed's "swaplines" that have been reopened this evening could conceivably pay for part or all of the ECB's foreign bond buying. Remember when Bernanke was asked about this in testimony and he said he had the authority to do this in unlimited amounts? This is no longer a hypothetical.

At the same time this blatant act of financial rape served upon you has come with a 4.18% increase in the price of oil (so far today), which I'm sure you will appreciate at the pump along with the ramp job that gasoline has taken in the last two weeks. At roughly $3 a gallon already, this should add another 12 cents or so to that in the coming days.

Oh, and uh, there's supposed to be this little matter of an appropriation bill in the House of Representatives to fund that IMF "obligation" - before it's incurred. There's this quaint document called "The Constitution" that mandates this.

It, of course, is irrelevant to both Ben Bernanke and, it appears President Obama, who if stories are to be believed prodded the IMF and ECB into spending money he didn't actually have the right to commit (for want of said appropriation bill.)

No matter America.

You're good for it, right? After all, it's not just our banks you have to bail out - we're also required to bail out all the profligate spenders over in Europe too who also can't manage to balance their budgets and, in fact, don't even bother collecting taxes from 70% of the population (in Greece anyway.)

Oh, and there's the matter of the ECB being legally unable to issue credit on its own, to bail anyone out or to directly help one another. To get around that inconvenient part of the founding documents of the ECB they defined a self-imposed fiscal problem caused by their own lies as an "act of God" similar to a hurricane or flood. In short they simply ignored that law too, just like The Fed has for the last two+ years and like Congress does when its members trade on inside information - an act that is legal for them and leads to jailtime for you.

Congratulations America. You've sat on your butts for a sufficient period of time, and allowed enough abuses and usurpations to take place without putting a stop to it that now you've just been ripped for tens of billions of additional dollars and a gas price hike coming down the pipe with both going to feed an organization that is violating its own laws - and is in a foreign land.

PS: That gut-wrenching crash (and yes it was) Thursday? Yeah, you couldn't buy into the bottom of that - nobody except JP Morgan could. The NYSE was on "slow" and the only people routing 1 cent orders for Accenture were from the big banks - for the big banks. They made a fortune rigging the system - again The futures were being quoted at 10 handle spreads, making trading for ordinary humans impossible. Today, you're going to wake up and be unable to buy too, as the DOW futures as I write this are up over 400 points and the S&P is flirting with lock-limit up at +54.75.

You cannot invest or trade in markets that behave this way; it is impossible to go to sleep with a position, either bullish or bearish, and not wake up to find it ridiculously underwater. This isn't "stability" being demonstrated as the Euro folks and Bernanke claim, it is schizophrenia, it's destructive and it's impossible to be involved in a market that behaves this way without eventually waking up to all your money being gone.

It is time to give up folks and leave the machines to themselves.

Nice article from MarketTicker.

reply to post by Vitchilo
Ahhh...good call!

I was going to post that V...we are now in the final lap...I don't see how this will work as KD states...

If they impose austerity on all of Europe it will kill GDP...and the ECB STILL has no printing press, unlike the US/IMF, backing this carp...

Time will tell though...when people really look into this and figure it out...

~poof~

[edit on 5/10/2010 by Hx3_1963]

It won't take a year before this all blows up, including the US and Canada.

Europe have about 6 months before the Euro explodes.

This ain't over by a long shot. Ludwig Van Meses will be right again and that crazy bastard Keynes will be wrong once again.

I'm going to keep my eye on the XAU/XAG/EUR cross...check out the 4am spots...

~They~ pushed gold down to 1185 from 1215 last week, but, they can't keep it down...1192.75 now...




The EUR has been as low as 1.26 last week to 1.31 overnight...



Spain 1042.71 108.68 11.64% 12:40
Hungary 23488.16 2064.50 9.64% 12:41
Greece 1786.65 156.18 9.58% 13:41

European banks jump 10 pct on EU's rescue plan
www.reuters.com...

LONDON, May 10 (Reuters) - European banking shares spiked on Monday, after slipping about 14 percent last week, boosted by a $1 trillion emergency rescue package agreed by global policy makers to protect debt-stricken countries in the euro zone.

The STOXX Europe 600 banking index .SX7P jumped more than 10 percent, while Allied Irish Banks (ALBK.I), Banck Santander (SAN.MC), Standard Chartered (STAN.L), HSBC (HSBA.L), Barclays (BARC.L), Lloyds (LLOY.L), Royal Bank of Scotland (RBS.L), BNP Paribas (BNPP.PA), Societe Generale (SOGN.PA) and Credit Agricole (CAGR.PA) surging 5.8 to 24.1 percent.

The rescue package, hammered out by European Union finance ministers, central bankers and the International Monetary Fund in marathon weekend talks to resolve the Greek debt crisis that threatened to sink the euro and unravel euro-zone unity, was the largest in more than two years since G20 leaders threw money at the global economy following the collapse of Lehman Brothers.

At 0740 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was up 4.8 percent at 1,013.63 points after hitting a seven-month closing low on Friday. It fell 8.9 percent during last week, its worst weekly performance since November 2008.

DJIA Futures now over 400

[edit on 5/10/2010 by Hx3_1963]

Well, they simply RECALIBRATED

The very idea of money is a Ponzi scheme, money is debt. It is the source of social experiment. When you see happiness like this in the markets, it means they've just found new suckers to ACCEPT the money offered as help/debt.

Of course, as it amasses, it means only one thing: inflation. Thus the numbers go high, because of accretion. And that is what is projected as (positive=good) - advancement.

Did you know that inside a neutron star there are "rivers of neutrons"?
Currency (not an accidental name) suffer from shock waves and do have tsunamis of their own. They are now shuffling huge boulders of debt and trying to identify it/them as compounds of specific atoms - but One World Currency is like neutron, it erases national or other designations.

This is why the leveling of Euro is happening and American cavalry coming in to help

This whole worlds crisis is a result of global unification process. I think it can be mapped in the same manner (analogy) as are tectonic seams.

The Age of Information put "material" (information) inside people's heads, but body count must go down because "outside" resources are diminishing or deteriorating.
It affects human nature (form) in a disastrous way.

This is the Third World War, displaying a very unexpected form of unfolding.

The war is much more "inside" than "outside".

This is a psychosis, in my humble opinion.

Hmmm...Gold is looking jumpy...

Gold Chart

EUR as well...

EUR Chart

Spain 1056.21 122.18 13.08% 14:00

Europe Fights Illusionary Wolfpack With A Boomerang...
www.zerohedge.com...

Hilarity ensues!

Not one bit embarrassed by their last witch hunt against speculators that led European politicians to discover that the biggest CDS "speculator" against Greece was in fact the Greek post bank (a fact that received very little publicity surprisingly), they are back at it again. It seems there might be a slight confusion though on their part between investors and speculators. By taking on the supposed speculators with an unprecedented galore of currency debasement, European countries are very unlikely to attract any foreign capital going forward. This is nothing else than capital markets fascism and a poorly disguised ponzi scheme. Fact is that fiscal finances are in poor order and not expected to get much better in the future. Rather than tighten the belt and address the gap as they should, governments around the world are lending themselves the money they need to spend. Throughout the financial crisis the only category of workers that has seen a pay rise are those working for the government. Yes there have been layoffs, but very little pay cuts. Talk about a collective effort! While capital markets seem happy to celebrate the madness this morning, also a by-product of a lot of shorts of risk being chased through the gates of hell, I expect that the markets will see through this mascarade in due time.

NYSE Invokes Rule 48 For This Morning's Opening, Anticipates Unprecedented Volatility
www.zerohedge.com...

Here we go:

A refresh on Rule 48:

Rule 48 provides the Exchange with the ability to suspend the requirement to disseminate price indications and obtain Floor Official approval prior to the opening when extremely high market-wide volatility could cause Floor-wide delays in opening of securities on the Exchange.


Rule 48 is intended to be invoked only in those situations where the potential for extreme market volatility would likely impair Floor-wide operations at the Exchange by impeding the fair and orderly opening of securities. Accordingly, the rule sets forth a number of factors to be considered before declaring such a condition, including:

* Volatility during the previous day’s trading session;
* Trading in foreign markets before the open;
* Substantial activity in the futures market before the open;
* The volume of pre-opening indications of interest;
* Evidence of pre-opening significant order imbalances across the market;
* Government announcements;
* News and corporate events; and,
* Any such other market conditions that could impact Floor-wide trading conditions.

If even the NYSE is saying to expect record stock volatility, run for cover now.

Gold up to 12oo from 1185 earlier...going to be ugly today...

[edit on 5/10/2010 by Hx3_1963]

What all this means today is . . . ladies and Gens, that the fake wealth builders or (The plunge protection team) just put a bandaid to last week bleeding wound to halt the wealth bleeding.

At the expenses of again nations citizens.

Who is been protected with this fake state of prosperity and stabilization? those that have the power to manipulated nations wealth base in future predictions.

Still is fake and if history shows the last two years is also temporarily until the bandaid gets soak again and have to be changed.

Nothing surprises me anymore, I think we should start betting on when is going to go down again in the markets and when the next bandaid will be administered, because this as you know will no last.

The world economy is a big ponzi scheme thanks to those that are able to manipulate the wealth that is not there.

Actually after what happen last week we should be going down the hill in the markets, but as we know, this only shows the manipulations is in hight gear

If people in all the nations involved in this scheme will raise up and say enough if enough playing with nations future generations the markets will show its ugly truth and we could start new with no debts that means that the manipulators and wealth controllers will have to give up their power and they will not go without a bloody and deadly fight. . .

[edit on 10-5-2010 by marg6043]

reply to post by Vitchilo


You know exactly what I am talking about, you are nice and are giving a year, but taking into consideration the last two years of scam after scam at fixing the markets and the manipulations things are worst that it seems and I don't even give it one year, this is going to last a lot less as its been happening since the big market crash that US started with corrupted practices and the mortgage scam.

The entire world wealth was actually build with that scam and to replaced it is not going to be easy and it seems that the wealth builders do not want to give away their original scam yet, as we know more scams and bubbles on the mortgage markets are been build as we speak.



[edit on 10-5-2010 by marg6043]

I'm speechless, well no I'm not.. I just don't know what to say. I have to laugh though. i find it all to be very funny.

btw Euro volitility at play again 1.2830s when I last looked.

Spain 1067.10 133.07 14.25% 16:15

What a joke....on what?

20% UE? 3/4 Trillion Debt?

Looks like Amanda Drury is back on CNBC. I have a reason to watch again.