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Eurozone debt bomb reaches land down under- Australian bonds head for implosion?

 
Luisport

User ID: 5892965
Portugal
11/23/2011 06:09 AM

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Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
November 23, 2011 – SYDNEY – The European Union’s crisis of confidence has reached the distant shores of the local dollar debt market as once-unimpeachable EU institutions suffer huge rises in borrowing costs. The last few days have seen a dramatic deterioration in the market for even the highest-rated EU sellers of kangaroo bonds, paper denominated in Australian dollars and sold in Australia by foreign firms. The starkest example was the European Investment Bank (EIB), a triple-A credit funded by all 27 members of the euro zone and one of a group of borrowers known as supranationals. Yields on its 2020 kangaroo bond have climbed 90 basis points in just the past week to reach 6.82 per cent, the highest in seven months and easily the steepest rise in the bond’s life. The EIB paper is now paying a premium of 292 basis points over comparable Australian commonwealth government bonds (ACGB), a huge swing from just 135 basis points at the start of the month and the widest spread on record. In comparison, the Asian Development Bank’s 2020 kangaroo bonds pay only 102 basis points over ACGB, and even the African Development Bank 2016 issue has a spread of 125 basis points. “The EIB 2020 issue continues to find few friends in a market that has lost interest in anything with the word “European” in its title,” said Sean Keane of Triple T Consulting, who works on behalf of Credit Suisse. “Despite the sovereign backstop that the EIB has in terms of funding, the market is concerned about the European lending exposure that the EIB holds,” added Keane. “Having watched what has happened to bigger and more liquid sovereign bond markets investors appear unwilling to risk their capital – even at these yields.” The latest wild moves were made on very little volume as liquidity had evaporated, with plenty of would-be Asian and Japanese sellers but no buyers. One dealer at a European bank said the market had become so illiquid that he saw the spread on EIB bonds widen 45 to 55 basis points in a single trade. “The EIB has gone out a hell of a lot,” said the dealer. “People are concerned about Europe, full-stop. That’s why they’re selling.” -SMH
[link to theextinctionprotocol.wordpress.com]
Luisport (OP)

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11/23/2011 06:13 AM

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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
bump
Luisport (OP)

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11/23/2011 06:13 AM

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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
bump
Anonymous Coward
User ID: 5882880
Australia
11/23/2011 06:15 AM
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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
Aussie doom on.
Good post and 5 stars.
Anonymous Coward
User ID: 5882880
Australia
11/23/2011 06:17 AM
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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
Aussie doom on.
Good post and 5 stars.
 Quoting: Anonymous Coward 5882880


good post 5 stars and pin ***
Luisport (OP)

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Portugal
11/23/2011 06:18 AM

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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
When measured by demand, Germany apparently just had one of its worst bond auctions EVER.

Even the rock of Europe is seeing less enthusiasm for what it has to offer.

And you know it's a weird day, when markets are falling, the yield on German Bunds are actually higher.

Much like US Treasuries, German bund yields almost always go lower on risk off days.



Read more: [link to www.businessinsider.com]
Luisport (OP)

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Portugal
11/23/2011 06:19 AM

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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
Aussie doom on.
Good post and 5 stars.
 Quoting: Anonymous Coward 5882880


good post 5 stars and pin ***
 Quoting: Anonymous Coward 5882880


Thank you so much!hf
Anonymous Coward
User ID: 5674200
Australia
11/23/2011 06:19 AM
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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
Excellent I hope the AUD drops like a sack of shit 5a
Luisport (OP)

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Portugal
11/23/2011 06:20 AM

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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
By the way anyone knows a way to delete a post if we do it in double?
Anonymous Coward
User ID: 5882880
Australia
11/23/2011 06:20 AM
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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
Aussie doom on.
Good post and 5 stars.
 Quoting: Anonymous Coward 5882880


good post 5 stars and pin ***
 Quoting: Anonymous Coward 5882880


Thank you so much!hf
 Quoting: Luisport


Your welcome mate. Cheers for keeping us informed!
Anonymous Coward
User ID: 5892661
Australia
11/23/2011 06:22 AM
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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
Australia is fucked.. People here have no idea what is about to happen..
Anonymous Coward
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Germany
11/23/2011 06:27 AM
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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
By the way anyone knows a way to delete a post if we do it in double?
 Quoting: Luisport


somewere under your name is a button "edit post"
or if u are the op there must be a "delete post" butten somewere...
Anonymous Coward
User ID: 5674200
Australia
11/23/2011 06:28 AM
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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
Australia is fucked.. People here have no idea what is about to happen..
 Quoting: Anonymous Coward 5892661


That's ok I always liked a good episode of fucked, in fact I was born and bred for it 5a
Luisport (OP)

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Portugal
11/23/2011 06:29 AM

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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
Pin please!hf
Anonymous Coward
User ID: 5882880
Australia
11/23/2011 06:30 AM
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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
Australia is fucked.. People here have no idea what is about to happen..
 Quoting: Anonymous Coward 5892661


That's ok I always liked a good episode of fucked, in fact I was born and bred for it 5a
 Quoting: Anonymous Coward 5674200


With ya there my whole life has been pretty much fucked so I'm keen for whatever.
Anonymous Coward
User ID: 5715212
Australia
11/23/2011 06:32 AM
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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
Excellent I hope the AUD drops like a sack of shit 5a
 Quoting: Anonymous Coward 5674200


I think it will in the next eighteen months.
Anonymous Coward
User ID: 5715212
Australia
11/23/2011 06:35 AM
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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
Australia is fucked.. People here have no idea what is about to happen..
 Quoting: Anonymous Coward 5892661


I wouldn't say fucked, however as they say "the bigger the party the bigger the hangover"...
Anonymous Coward
User ID: 2060406
United States
11/23/2011 06:37 AM
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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
Well, it's about fucking time.
Anonymous Coward
User ID: 5550344
United Kingdom
11/23/2011 06:38 AM
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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
And so it begins...
Luisport (OP)

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Portugal
11/23/2011 06:48 AM

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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
It's spreadind like a fire! It's impressive!
Sir Griffo
Sir Griffo

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Australia
11/23/2011 06:57 AM

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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
5 and a Pin from me OP.
Aussie Doom to come... Reckon we got another 6 months before it hits us hard though...
Once it hits we shall be eating Iron Ore and Uranium for the next 50 years. Either that or those new Yank troops being stationed up top,
Luisport (OP)

User ID: 5892965
Portugal
11/23/2011 07:08 AM

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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
5 and a Pin from me OP.
Aussie Doom to come... Reckon we got another 6 months before it hits us hard though...
Once it hits we shall be eating Iron Ore and Uranium for the next 50 years. Either that or those new Yank troops being stationed up top,
 Quoting: Sir Griffo


But Australia is strong in agriculture, so you will have products to eat...
Luisport (OP)

User ID: 5892965
Portugal
11/23/2011 07:12 AM

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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
5 and a Pin from me OP.
Aussie Doom to come... Reckon we got another 6 months before it hits us hard though...
Once it hits we shall be eating Iron Ore and Uranium for the next 50 years. Either that or those new Yank troops being stationed up top,
 Quoting: Sir Griffo


But Australia is strong in agriculture, so you will have products to eat...
 Quoting: Luisport


We are all in the same boat!hf
Anonymous Coward
User ID: 5681275
United States
11/23/2011 07:26 AM
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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
5 and a Pin from me OP.
Aussie Doom to come... Reckon we got another 6 months before it hits us hard though...
Once it hits we shall be eating Iron Ore and Uranium for the next 50 years. Either that or those new Yank troops being stationed up top,
 Quoting: Sir Griffo


Ding Ding.. You win the prize.. The USA will infuse the money into Aussi. We will sneak in the back door and buy your people and land to position our troops where needed.
Gunnz, lots of Gunnz

User ID: 5884210
Australia
11/23/2011 07:29 AM
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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
all this economic doom is about, is wankers that live like parasites off other peoples savings or investments, will curl up and die.
Normal civilians will continue on with their own business, coz they dont give a shit about night life and glamorous social events mingling with millionaires and billionaires that only got that wealth by STEALING IT from others.
Corp/o/Ration
A Single Entity (group with the same paragon) Restricting consumption of scarce commodities.
Luisport (OP)

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Portugal
11/23/2011 07:30 AM

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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
zerohedge zerohedge
FITCH: FRANCE CAN'T ABSORB MORE SHOCKS WITHOUT UNDERMINING AAA - so... downgrade imminent?
há 48 segundos
Luisport (OP)

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Portugal
11/23/2011 07:52 AM

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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
bump
Anonymous Coward
User ID: 241684
Netherlands
11/23/2011 07:55 AM
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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
It's spreadind like a fire! It's impressive!
 Quoting: Luisport


^this and 5* because your post made me happy, German bond auction failure? I knew Germany was in as deep doodoo as the rest but they hide it for the world, now it is coming out so who to look next as the saviour of the EU.

It is a global disaster, each and every economy in this world is on the brink of collapse and the smoke and mirror act they pulled out of their hats in 2008 is coming to an end, markets and people are wisening up.
Jane SmithModerator
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United States
11/23/2011 08:03 AM

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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
Great thread, 5 stars.

Well, this is turning into a very interesting week.

Bond bombs in Germany & Australia, bailout collapse for Dexia, QE3 in the States.

Sigh ..... we knew it is enroute, ETA seems to be hard to oin down though.
Life is karma and karma always reflects both past and present circumstance. Our time here is short, so choose carefully and behave well, for all of your tomorrows are presently being decided.

"Don't die on a small cross..." Saddletramp's Mom

"A fool thinks himself to be wise, but a wise man knows himself to be a fool."
-- William Shakespeare, born April 23, 1564.

Killer Bunny mockingjay
Luisport (OP)

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Portugal
11/23/2011 08:10 AM

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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
Great thread, 5 stars.

Well, this is turning into a very interesting week.

Bond bombs in Germany & Australia, bailout collapse for Dexia, QE3 in the States.

Sigh ..... we knew it is enroute, ETA seems to be hard to oin down though.
 Quoting: Jane Smith


Thank's
Luisport (OP)

User ID: 5892965
Portugal
11/23/2011 08:11 AM

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Re: Eurozone debt bomb reaches land down under- Australian bonds head for implosion?
PIN PIN PIN!!!

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