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The Guardian - 07/05/12
Election of anti-austerity François Hollande in France and hung parliament in Greece create uncertainty about eurozone debt crisis.
Article continues ...
The Guardian - 07/05/12
Greek market rocked by election
Greek shares fall nearly 8% at the open while French market is also down.
Article continues ...
Markets have clearly taken fright at the election results. Credit default swaps in France, Spain and Italy have risen. French five-year CDS are up 5 basis points to 194, Spanish CDS up 9 points to 486 and Italian swaps are up 12 basis points to 442, according to Markit.
The euro has tumbled this morning, hitting a three-month low against the dollar, at 3 1/2 year low against the pound and a 2 1/2 month trough against the yen.
Traders reckon the euro has further to fall in coming days.
GoodAurora wrote:The Guardian - 07/05/12
Greek market rocked by election
Greek shares fall nearly 8% at the open while French market is also down.
Article continues ...Markets have clearly taken fright at the election results. Credit default swaps in France, Spain and Italy have risen. French five-year CDS are up 5 basis points to 194, Spanish CDS up 9 points to 486 and Italian swaps are up 12 basis points to 442, according to Markit.The euro has tumbled this morning, hitting a three-month low against the dollar, at 3 1/2 year low against the pound and a 2 1/2 month trough against the yen.
Traders reckon the euro has further to fall in coming days.
Be careful what you wish for Steve.stevecook172001 wrote:GoodAurora wrote:The Guardian - 07/05/12
Greek market rocked by election
Greek shares fall nearly 8% at the open while French market is also down.
Article continues ...Markets have clearly taken fright at the election results. Credit default swaps in France, Spain and Italy have risen. French five-year CDS are up 5 basis points to 194, Spanish CDS up 9 points to 486 and Italian swaps are up 12 basis points to 442, according to Markit.The euro has tumbled this morning, hitting a three-month low against the dollar, at 3 1/2 year low against the pound and a 2 1/2 month trough against the yen.
Traders reckon the euro has further to fall in coming days.
It's all coming to a head
Economic collapse is coming anyway. The only pertinent question that remains is does the frog get to boil slowly or quickly. The quicker it happens, the more likely it is to do something about its predicament. Of course, it will be a very dangerous time coming up and things could go, politically, in horrible directions. In which case it's time for those of us who would see this as the opportunity to carve out a new world of greater fairness and equity to stand up to the plate.Aurora wrote:Be careful what you wish for Steve.stevecook172001 wrote:GoodAurora wrote:
It's all coming to a head
)
ujoni08 wrote:Steve, you're scaring me (but of course, you're right
Sometimes when I think about the hugeness of the problem we face, I feel like this little chap:
http://www.youtube.com/watch?v=G7X54cJvVUk
Eeyore wrote: "Everybody crowds round so in this Forest. There's no Space. I never saw a more Spreading lot of animals in my life, and in all the wrong places."
I suspect none of us here have the personality to stand up to the Moronic Tendency that is likely to be the first dominant sector. If you can keep out of sight until they begin to die off, there might be a chance you can have some influence.In which case it's time for those of us who would see this as the opportunity to carve out a new world of greater fairness and equity to stand up to the plate.
The slightest bit of bad news and the market to drop like a brick. The slightest bit of good news and it rises like there a frigging stick of dynamite up it's ares. There nothing "intelligent" about the "market". It's like a neurotic, hysterical child.Totally_Baffled wrote:Very weird, the CAC and DAX opened 2% down and now both indexes are both up!
This economic collapse is going to be unpredictable! Seat belts on!
The market shouldn't be spooked by these election results - they were entirely predictable, and predicted.Totally_Baffled wrote:Very weird, the CAC and DAX opened 2% down and now both indexes are both up!
This economic collapse is going to be unpredictable! Seat belts on!
Exactly.woodburner wrote:The market makers will do anything to shift the price. If it goes up there will be transactions, if it goes down there will be transactions. Either way the market traders will collect their commission. Others just have to guess in advance which way it will go before making their panic induced moves. No problem, the market traders still get their commission.
Stocks and shares are not a market, they are a gambling club.