MERKEL: EUROPE WILL NOT HAVE SHARED DEBT BURDENS FOR 'AS LONG AS I LIVE' !!!

FTSE 100 /quotes/zigman/3173262 5,437 -13 -0.24%
CAC 40 /quotes/zigman/3173214 3,008 -14 -0.46%
DAX /quotes/zigman/2380246 6,112 -21 -0.34%
FTSE MIB /quotes/zigman/1482176 13,021 -92 -0.71%
IBEX 35 IDX /quotes/zigman/2759620 6,560 -64 -0.97%
GlobalDow 1,759 -2 -0.14%

The Italian Consumer Collapse! [link to www.businessinsider.com]

DISMAL Italian Retail Sales! [link to www.businessinsider.com]

The EU, like the rest of the world (to one degree or other) is circling the drain and bit by bit slowly drowning..

I can't help but think that the establishment around the world are getting ever more limited in the paths they can take to get us out of this mess..

My opinion is without pushing for and investing in new sources of wealth and growth they are only pushing us ever closer to the drain hole and finally drowning..

Aside from war or new wealth I can not see the situation improving at all as we all circle the drain.

Today's rally in the European currencies was pretty erratic and muted.

Spain 10 year 6.71100 0.07400 1.12%

BAM...5s and a pin

fill my karma boy :)

BAM...5s and a pin

fill my karma boy :)

FTSE 100 /quotes/zigman/3173262 5,444 -7 -0.13%
CAC 40 /quotes/zigman/3173214 3,009 -13 -0.43%
DAX /quotes/zigman/2380246 6,120 -12 -0.20%
FTSE MIB /quotes/zigman/1482176 13,010 -104 -0.79%
IBEX 35 IDX /quotes/zigman/2759620 6,619 -5 -0.07%
GlobalDow 1,760 -1 -0.08%

Yes, now euro is rising a bit...

Spain short-term borrowing costs jump in auction!!! FRANKFURT (MarketWatch) -- Spain saw short-term borrowing costs jump sharply Tuesday as it auctioned 3.08 billion euros ($3.85 billion) of three- and six-month bills. The Treasury sold 1.6 billion euros of three-month bills at an average yield of 2.36%, up sharply from 0.85% in a May auction. A sale of 1.48 billion of six-month bills produced an average yield of 3.24%, up from 1.74% in May. Although the total amount sold topped the top end of the Treasury's target range of 2 billion to 3 billion euros, demand faded, with bids for three-month bills exceeding supply 2.6 times versus a bid-to-cover of nearly 4-to-1 in May. The bid-to-cover on the sale of six-month bills fell to 2.8 from 4.3 in May. Meanwhile, Italy sold nearly 3 billion euros of 2014 zero-coupon debt, with the yield rising to 4.7% versus 4.04% in a May sale, according to Bloomberg. [link to www.marketwatch.com]

Europe stocks trim gains as Spain’s yields surge! LONDON (MarketWatch) — A sharp rise in Spanish borrowing costs at a debt auction trimmed gains in European stock markets on Monday, while Spain’s banking sector further struggled after a fresh round of downgrades from Moody’s Investors Service. [link to www.marketwatch.com]

Most markets climbing now.

Last Edited by WeAreOne on 06/26/2012 06:37 AM

zerohedge‏@zerohedge

Spain 10 Year 6.71%

That's because euro is swinging between neg and positive territory...

Good is good
Bad is made to look good

Markets doing what they do best

zerohedge‏@zerohedge

Italy 10 Year: 6.08%

1 min zerohedge‏@zerohedge

ITALY APRIL SALES PLUNGE 6.8% YOY, BIGGEST DECLINE BIGGEST SINCE AT LEAST JAN. 2001

zerohedge‏@zerohedge

Spain Borrowing Costs Triple In One Month, Italian Yield Firmly Above 6% Again [link to DON'T_USE_THIS.com]

We are so next.

But how long is it going to take before Italy is in the eye of the storm?

zerohedge‏@zerohedge

Spain Says Capital Injections for State-Owned Banks To Be "Fast". They won't feel a thing

15 min zerohedge‏@zerohedge

Spain Borrowing Costs Triple In One Month, Italian Yield Firmly Above 6% Again [link to DON'T_USE_THIS.com]

Euro rebound cut short by Spanish auction
Yields up and demand weaker at Spanish government-debt sale! FRANKFURT (MarketWatch) — The euro gave up a modest gain versus the U.S. dollar after a sale of short-term Spanish government debt saw a sharp rise in yields and weaker demand, while the yen gained after initially weakening on worries about the fate of Japan’s government. [link to www.marketwatch.com]

zerohedge‏@zerohedge

Italian government approves measures to "boost" BMPS capital

8 min Business Insider‏@businessinsider

WILLEM BUITER: Spain And Italy Will Need Sovereign Bailouts, And Quite Possibly Very Soon [link to read.bi]

EURO LOD!!! 1,2457!!! [link to www.freestockcharts.com]

zerohedge‏@zerohedge

Caja de Ahoros: Sub CDS +185bps, 1455 bps

FTSE 100 /quotes/zigman/3173262 5,456 +5 +0.09%
CAC 40 /quotes/zigman/3173214 3,014 -7 -0.24%
DAX /quotes/zigman/2380246 6,118 -15 -0.24%
FTSE MIB /quotes/zigman/1482176 13,050 -64 -0.49%
IBEX 35 IDX /quotes/zigman/2759620 6,567 -57 -0.87%
GlobalDow 1,759 -2 -0.13%

Great threads as always....

The euro hit a two-week low against the yen and a near-four-week low against the British pound on Tuesday, hurt by rising peripheral euro zone bond yields and expectations a European summit would achieve little to help resolve the region's crisis.