Thursday, March 12, 2015

Economic News and Views ( March 12 , 2015 ) - Euro crashes through 1.05 to USD , Greece still the word , Ukraine has a new debt slavery program with the IMF , South Korea cuts rates ( becoming Central Bank number 24 to do so - just this year ) , China massive local government debt should scare the socks off folks , Japan master class in manipulations in view , gold becoming that mere relic that certain folks claimed it was ?


Tweets...



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Teleconference btwn and the today to discuss ELA






State employees' pension fund notifies Labour Ministry it won't be able to pay any dividend to pensioners beyond March ~




's Coeure: Average maturity of bonds bought by is 9 Years. 's 30yr yields drop to record low.






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Executive member of Cyprus Central Bank resigns accusing Governor of blackmailing MPs with their loans








They get bang for their bucks. 's Coeure say ECB has bought €9.8bn in 3days under QE program.






Time for a short squeeze: bounces back above $1.06 after 12yr low of $1.0495.







Crazy Dollar: Dollar Index DXY briefly hits 100 in early trade for first time since 2003. Now retreats from 12yr high









The Daily Shot; March 12, 2015: Global Macro Currents -





Chart: 6 months of currency declines against USD; JPY: -11.9%, CAD: -13.4%, AUD: - 16.0%, EUR -18.5% -






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The EUR fell closer to parity with the USD yesterday, chart






IMF new 4y programme for Ukraine has "debt operation" as "key consideration to proceed with the first program review"



| BOK unexpectedly cuts to record low ...down, down, deeper & down...










Varoufakis on Mega: Schäuble told me I lost the confidence of the German government. I told him I never had it







may post longest losing run since 1998 on ‘Crazy’ .







Crazy Dollar or melting Euro? At current downward pace (56 pips/day) will hit zero on Jul22 this year.







briefly drops below $1.05 for 1st time since Jan03 as Draghi snaps up bonds. Now $1.0511








Korea Hops on Rate-Cut Bandwagon With Move to Record Low. BOK is 24th cenbank that has cut rates this year.












BREAKING: Gisele Bundchen demands to be paid in dollars.













As a reminder, the BOJ stepped in to stabilize the market 143 times, with 76% of interventions to prevent selling

View on web











Essentially, Düsselhyp is a German bank with more exposure to the Hypo Group Alpe Adria than capital. Rating: c (one above default)







If you don't know what Düsselhyp is, you might want to check it out. report (in German):