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

www.bbc.co.uk...

UK financial firms downgraded by Moody's rating agency

Is this "punishment" for yesterday's out of line emission of 75 billion pounds?

Moody's has downgraded the credit rating of 12 UK financial firms including Lloyds TSB, RBS, Nationwide and Santander UK.

Moody's said it now believed the UK government was less likely to support some firms if they got into trouble.

However, the firm emphasised that the downgrades did not "reflect a deterioration in the financial strength of the banking system".

What does it reflect then?

Moody's also downgraded nine Portuguese banks, blaming financial weakness.

Incredible

And the Markets are booming due to the "employment" data, but with supposedly accounted 14 million people with not jobs by government figures the (real numbers of unemployment could be as high as 17 million) 103 thousands seems like nothing amid a sea of people looking for jobs.

Sad truly.

reply to post by DangerDeath


Isn't that what US say when they got downgraded? that is just a matter of figure speaking, it means nothing, we are strong, strong I tell you look at our markets we are booming.

just joking.

About HEALTHCARE and HOPE.

Men are judged by their strength of their opinion and with hopes/dreams money awaits

He who has health has hope; and he who has hope, has everything.

en.wikiquote.org...



This one is interesting, since it is about "owning":

Literal meaning: If you were generous to a generous person you would own him; if you were generous to a mean person he would rebel on you.

Metaphoric meaning: A good person remembers a favor, a bad person does not.

en.wikiquote.org...


It's all about how one interprets a "favor". A loan from bank is "always" a FAVOR which makes you the OWNED one?

reply to post by DangerDeath


10 years ago, the US had Bob Hope, Johnny Cash and Steve Jobs.
Now they have no hope, no cash and no jobs...




Edit:

Fitch Downgrades Italy To A+, Outlook Negative

And Spain... Fitch Downgrades Spain To Aa- From Aa+, Two Notch Cut, Outlook Negative

Euro Plunges On Fitch Double Tap, Comments From Merkel

Chinabot is in full fail mode, after a sticksave attempt to save the currency following the Italian downgrade by Fitch was monkeyhammered with the Spanish downgrade which was not only two notches, but sent the country's rating to below that of S&P and Moodys. Adding fuel to the fire is an errant comment from Merkel who has said that Eurobonds are "absolutely the wrong way to go", and lastly, a last minute notification from Fitch which goes for Trifecta by saying that Portugal remains on outlook negative, and the result is visible on the attached chart.

France downgrade today or tomorrow, after they (try to) save DEXIA (because noone else can)

Great !!!!!!!!!!! lets downgrade the entire world and still the markets in the US will boom, I tell you nothing but corruption and manipulation, specially when everything in the markets is electronic and just a push of a bottom can change numbers.

Canada and US gets together to sugar coat the unemployment data to boosts markets, both data numbers were released at the same time.

Anyway, markets are going down baby, I guess the downgrade in the EU is affecting us after all.

Portugal downgraded by Fitch... BBB-

www.marketwatch.com...

reply to post by DangerDeath


This is so funny, when the markets are booming is all about "no recession or America markets are strong" in CNBC, but as soon things go south, is all about "defaulting, recession, inflation and lets blame the eastern bunny"

Originally posted by DangerDeath
Portugal downgraded by Fitch... BBB-

www.marketwatch.com...

edit on 7-10-2011 by DangerDeath because: (no reason given)

Not downgraded,maintained...

CHICAGO (MarketWatch) -- Fitch Ratings on Friday maintained Portugal's local- and foreign-currency issuer default ratings at 'BBB-' and its short-term rating of 'F3' on rating watch negative (RWN).

reply to post by Shenon


Sorry about that.

Something else, trying to figure out the dynamics of market "events".
Is it really just about computer time which expands to "history" in just few hours, compared to human perception of time?
These graphs are not reflecting things the way we are used to. They create their own many tides within a day or a few days span. This is how they create small discrepancies and collect plankton sized profits in a series of nicks to feed the whale sized financial organisms.

There are human events which computerized market uses as a general frame, but those are not decisive in how they make profits. I think they are using those (relevant political or economy statements) to baffle the naive observers and make them believe that what happens in this quasi political sphere really affects markets.

I think we are dealing here with two, both superimposed and interpolated realities, where one is used as a template, and the other is actually about the energy (profit) transfer (scooping).

Traditional approach to understanding market movements isn't working any more.
The quantity of information is trillion times bigger and many huge systems of collecting all kind of information are now integrated and used by these computerized traders as we speak. What we get from the media is just one small, very small fraction compared to what these traders have at their disposal. They can anticipate things way in advance. They actually create the template and use it as a screen with contents as they please it to be.


What I am trying to say here is: a recession or even a depression, can last a few hours or days. It's not about months or years any more.

God,i love ZeroHedge...Hilarious

Epic, Grotesquely Surreal Friday Humor

Yesterday, during a conference organized by Bank of America titled "Banking & Insurance CEO Conference", whose key purpose was to defend insolvent Italian banks such as Intesa Sanpaolo (which was downgraded the very same day by Moody's) against the evil market and people spreading destructive truths, something grotesquely surreal happened. Specifically, Slide 9 from the prepared slide-deck happened. "What is Slide 9" you ask? Basically, it is Intesa's core defense of its "viability" which presents the EBA Stress Test result, according to which its Core Tier 1 ranks "among the best under the adverse scenario." Who is the best? Seek and ye shall find. The rest, as they, say is epic history...

Click the Link,look at the Chart...be aware that you could die from laughing too hard. Hint: The first Bank on this Stress-Test is (was) the best and most stable

news.sciencemag.org...

R.I.P. The Scientist. Economics Kills Another Magazine

Biomedical researchers have lost a respected source of information—and science journalists have lost yet another publication for which they can write—with the news that The Scientist will stop publishing immediately. The news comes just after the magazine celebrated its 25th anniversary with a special issue.

This is a targeted murder.

Biomed in trouble, eh?

Latest from Martin Armstrong.

www.martinarmstrong.org...

www.inflateordie.com...

EUROPE AGREES TO DEFEND BANKS MORE BAILOUTS - NO REFORM

reply to post by Shenon


Hum,i expected a bigger Sell-Off after a Week like that...anyway,lets see what that Weekend brings. Nothing good i hope

Spain's Net Foreign Debt Exceeds One Trillion Euros for First Time; How does US, Italy, UK, Australia Compare?

The latest figures from the Bank of Spain show that the net debt-the difference between what foreigners due to Spain and which in turn owes Spain abroad, not only not reduced but increased. In fact, at the end of the second quarter of 2011 for the first time broke the trillion euro barrier. In relative terms, this means a foreign debt equivalent to 93.7% of GDP, six points more than in 2010.

International Investment Position of Spain was, in particular, at 1.02 trillion euros, the highest ever level. In gross terms, external debt also has picked up , to 1.77 trillion euros, the second worst record in the series, surpassed only very slightly, and by data from the first quarter of 2010. The cause? The increased borrowing by the public and the financial system.

As a result of these developments, Spain's foreign debt now accounts for 163% of GDP. Spain, thus, has become the second country in most major foreign debt of the world, behind only the U.S., as recently published McKinsey . Below are Australia, Brazil and Italy. The ranking of Mckinsey, in any case, does not include Portugal, which, according to data from the central bank, would be over Spain, although its weight in the global economy is much smaller.

"Dexia's Funeral Will Be Announced On Sunday" As "Weakest Link" Slovakia Prepares To Bury The Euro

[...]
The events in question are, as Reuters reports, that 1) "Dexia's Funeral Will Be Announced On Sunday" and, as Bloomberg reports, that 2) Slovakia’s ruling Freedom and Solidarity party won’t back the overhaul of the European bailout mechanism after Prime Minister Iveta Radicova rejected the party’s conditions for approval, a lawmaker said.
[...]

Market - Monday - Bloodbath - Bye Euro...nuff said

Governments will become more desperate as they become bankrupt.
We are entering volatile and somewhat dangerous times, especially for those of who enjoy economic freedom and liberty.
Greece is introducing all sorts of new taxes, which include a property and sales tax, to try to pay down its deficit. The United Kingdom raised the Value Added Tax to cut down its deficit. However, these are mild in nature.
What will be worse are the smaller things that are more discrete on the surface that they will do to raise revenue and invade your rights.
For example, the IRS is strongly pushing for 1 million US and dual citizens who live in Canada to pay American taxes and file with the IRS. Really, they have no jurisdiction. These people live in and world in another sovereign nation. You should not be able to force them to pay U.S. taxes. However, the government, with record deficits, is desperate for money.
Look for more petty crimes to have higher fines, such as traffic offenses, speeding, etc. These are all ways governments can try and fill their empty coffers.
These things may seem minor in nature. However, they will hurt the economy as more resources will be used to collect revenue, and enforce petty violations. This takes away from productive activity and will just cause more of a lag in the economy.
For example, instead of making it more appealing for those with dual citizenship living in Canada to come back to the United States to work, the government will just waste resources going after these people.
In the end, all of us will suffer. Instead of promoting creativity and a good work environment, we will be stuck paying for petty violations to stuff the coffers of governments which are bankrupt financially and morally.

The whole world is slowly but surely becoming Third World
One has to ask, how the all time winners become defeated?
Self-discipline?

Dexia's Belgian Bank To Be 100% Nationalized

Earlier today, Reuters reported that the final solution for Dexia is imminent. "The governments of France, Belgium and Luxembourg reached agreement on Sunday on a rescue package for Dexia , which will be put to the stricken Franco-Belgian bank's board later in the day for approval. "The governments... have reaffirmed their solidarity in finding a solution to secure the future of Dexia," said a statement from the office of Belgium's caretaker Prime Minister Yves Leterme. "The suggested solution, which is also the result of intense consultations with all partners involved, will be submitted to Dexia's Board of Directors for approval." Sure enough, from Dow Jones:

- GOVERNMENTS AGREE TO NATIONALIZE 100% OF DEXIA'S BELGIAN BANK

We are waiting for more details but with that we have Belgium-Dexia CDS compression, an imminent Belgian rating downgrade, and the unleashing of the completely unpredictable domino effect.

Yep...lets save Dexia with Money we don´t have...and all is fine...nevermind that Belgium doesn´t even have a Goverment right now Rating-Downgrade of Belgium incoming....

Edit: The Markets might take that as good News,since it is basically a Bailout. So this could lead to a Rally on Monday...but (see below)

There is still the Question of what Merkozy (Sarkozy & Merkel) will decide today...we will see if Sarkozy could "convince" Merkel to allow him to take some Money out of the EFSF (even if that breaks the German Consitution and goes against the Court Ruling from early September) for his Banks (and for Dexia) or not...