Posts Tagged ‘ISDA’

Notes From Underground: It’s March and We Hear the Wind Blowing

March 4, 2012

Do you have to be a weatherman to hear the wind blow? There are many cross currents alive in the investment world as the LTRO is behind us, ISDA defaulted on its role as a referee on global financial issues in the face of political threats from the EUROCRATS, and the Bernanke FED looks to be waiting for a new crisis to erupt before undertaking another further easing. March is always a difficult month for trading YEN as the JAPANESE CALENDAR YEAR ENDS MARCH 31 so repatriation of corporate profits is always a wildcard for any short YEN positions.

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Notes From Underground: IN”LTRO” FERTILIZATION

February 27, 2012

Okay, the German Lower House of Parliament approved the funding for the Greece bailout, though Chancellor Merkel had to reach “across the aisle” to secure the necessary majority as some members of her coalition abstained or voted no. This is certainly no major surprise. Now the focus will return to Wednesday’s LONG TERM REFINANCING OPERATION (LTRO) and see how large the uptake will be from European banks and how much the ECB may try to cram into the system. The Geithner/Schauble squabble over IMF funding may give DRAGHI the edge he needs to push a larger LIQUIDITY ADD THAN THE 470 BILLION EUROS reported last Friday in a BLOOMBERG article.

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Notes From Underground: Europe Steals A Page From Alan Greenspan

October 27, 2011

It was once reported that Alan Greenspan, the Maestro of solipsistic reasoning, once said, “if you understood what I said, I must have misspoke.” The markets think they understood the basics of the GRAND EUROPEAN PLAN, but after reading through the many releases, I am not sure how the bail concoction actually will be deployed. (more…)