Tuesday, January 27, 2015

Greece Situation Aftermath , Ukraine / Russia situation getting hotter , Big Earning misses in US - P&G / CAT , FX in focus - failed SNB intervention ( January 27 , 2015 )

Looks like we are  finally seeing  a reaction today from markets to the Election in Greece on Sunday.....


Along with poor earnings , poor data and currency effects , not a happy start in Europe or NY....







Tweets.....
















"Sanctions require unanimity among the 28 governments. A Greek veto would shatter the fragile European consensus over dealing with Russia"









keeps bleeding due to CenBank interventions. Forex, Gold reserves drop by $6.8bn to $379.4bn in Week to Jan16








Buba's Nagel: End to 's Troika aid programme would have "fatal consequences" for the country's fin system.








In 2012 we warned that the 2nd Greek bailout would shift Greek debt from the private to the public sector (1/2):



















UST 10Y YIELD EXTENDS DECLINE, TOUCHES 1.746%.


US Stocks extend declines after terrible US econ data. Dow Jones Industrial now down >380.





FTW: RUBLE EXTENDS GAINS VS DOLLAR, ADVANCES 2.2%





MT Bombshell →Eurogroup's secret deal in Nov to rollover all loan payments to 2020






IMF STANDS READY TO RESUME DISCUSSIONS WITH GREECE: LAGARDE.








U.S. `FORCED' TO DISCUSS FURTHER RUSSIA SANCTIONS: NULAND




eyes first gas via new route to by 2017













UST 30 YIELD EXTENDS DROP, TOUCHES 2.332%. Not 1-handle yet







Coeure highlights flaw of - it "will work", "The money should irrigate the economy, as long as the banks play ball, of course"




Who owns Greek debt - mostly Germany, unsurprisingly. Credit to Open Europe and ABN Amro. From The Times today







Tsipras opts for academics in key cabinet posts: Varoufakis (Fin Min), Stathakis (Econ Min), Kotzias (Foreign Min).






Greek cabinet being announced now. Greek Economist Yanis Varoufakis is the new Finance Minister:






Run on the bank (stocks): 's banking index has dropped 19% at one point as Syriza win spells trouble.
















EURUSD 1.1360. Time to start pricing in Q€3









The Mystery Deepens: Dutch Central Bank Denies Reports It Bought Gold For The First Time In 17 Years









PASOK's Venizelos resigns, Proto Thema reports.















Athens stock exchange -6.43%, Banks -18.35% (Alpha Bank -20%, Pireaus -19%, NBG -15.75%)





Ouch! US Durable goods orders hurts USD and Stocks: Euro jumps > $1.13, Dow Future drops by >300points.











Durable Goods -3.4%. Goodbye rate hike









Who voted for QE timing that we should remember? France, Latvia, Lithuania, Lux, Finland, Slovakia, ECB Board’s Couere, Mersch, Praet







SCHAEUBLE: GREECE NEEDS PROGRAM FOR ECB TO TAKE BONDS IN REPOS. Yes, thanks, we know how Europe's shadow monetization works









YANIS VAROUFAKIS APPOINTED GREEK FINANCE MINISTER








Dow Futures Plunge 425 Points From Friday Highs; Greek Stocks/Bonds Plunging, Crude $44 Handle





GREECE NEEDS EUROPEAN RESCUE FUNDS, SPAIN'S DE GUINDOS SAYS. But... 2 months ago you said...





CAT stock has tumbled by over $20 in the past three months despite management buying back $4.2 billion of CAT stock










EU FINANCE MINISTERS AGREE 1.8 BLN EUROS IN LOANS FOR UKRAINE More taxpayer money going straight to Gazprom





"

Greece can not manage without further bailout programs" - Austria fin min. You mean the "Grecovery" was one big lie?







Russia to respond to possible disconnection from SWIFT — PM

Western countries’ threats to restrict Russia’s operations through the SWIFT international bank transaction system will prompt Russia’s counter-response without limits, Prime Minister Dmitry Medvedev said on Tuesday.





bank confirmed Russian alleged spy, detained in , is its employee












to offer 5bn Rubles of 2017 OFZ bonds at auction tomorrow. 2yr yields jump 16bps after S&P downgrade to junk.








RBS: Even w/ maturity ext, debt/GDP might go back >170%. Troika forecast of decade of 3.5% growth unrealistic







's 3yr yields jump by 214bps to 14.19% as Index has risen to highest level since 2012.







Whoa! The IMF's former European head Moghadam says eurozone shld halve Greece’s debt & required fiscal balance.






Greece debt repayment 'unrealistic'









I got it. is wearing red to support sell-off in Europe and NY.























EU member states at odds over sanctions as Poland accuses France of prioritising relations with Moscow





Eurozone leaders warn Greece to stick to its commitments as new cabinet set to be unveiled









Five members -- German, Dutch, Austrian and Estonian NCB governors and German member of ECB's executive board — opposed QE timing - RTRS





Ukraine crisis: EU leaders warn of more sanctions against Russia -





Greece 5-year CDS up 271 bps since the election, from 1265 bps to 1536 bps.