ISDA to meet at 1PM GMT to determine whether a credit event has occurred

No, it's against the basic nature of good faith in a contract.

If these fucks say no credit event I will throw up. Effen douche bags.

Do the right things and declare default. So that the CDS trigger and the bond holders get their $$ back. That why they paid the dam premier for those CDS contracts.

Sell folks

even if the meeting is held still EURUSD shud go down as it is below the expected level of participation.. so whatever the news comes EURUSD is down... may be by more 40pips

Majority Of Investors Holding Foreign Law #Greek Bonds Agree To Swap -Govt Official [DJ]??

Majority but under 90 triggering CDs.

Personally I hope they don't pay off on the CDs. These things are a direct path to eventual doom. Banks write them with pie in the sky ideas of covering them. As seen before and likely to be seen again these triggerings happen at crisis events... when banks are already stressed. Pile on massive CDs payouts and you get devistating situations like 2008. If these CDs are don't get payed off then speculators will realize how worthless CDs are and this constant game of global economic Russian roulette will end finally. PS be careful what you wish for. If these CDs do get triggered and it starts a global meltdown I doubt you will be so sympathetic then.

Bondholders who did not participate and purchased CDs will get the majority of their investments back while the rest have to take losses. Does not sound right? Did i interpret this correctly? Need second opinion.

Gas tank is almost full now.
But tank has a problem: it's broken and gas continue to leak out.

Can someone explain what a CD is?

IIF happy

PARIS (MNI) – The Institute of International Finance Friday
welcomed the high participation rate in Greek PSI, issuing the following
statement:

“The leadership of the Institute of International Finance today
welcomed the announcement by the Government of Greece that a very high
majority of private creditors and investors to Greece have accepted the
Government’s debt exchange offer on a voluntary basis.

‘The very strong and positive result provides a major opportunity
now for Greece to move ahead with its economic reform program, while
strengthening the Euro Area’s ability to create an economic environment
of stability and growth,’ said Dr. Josef Ackermann, Chairman of the IIF
Board of Directors, and Chairman of the Management Board and the Group
Executive Committee, Deutsche Bank AG.”

Forget iff. Let us all wait for Isda.

why is the degenerated EURO trying to go up with no fundamentals to support it and negative news still coming in.
Anybody...can enlighten us,PLEEEEESE

[quote=Sanguis;5458732]PARIS (MNI) – The Institute of International Finance Friday
welcomed the high participation rate in Greek PSI, issuing the following

Government’s debt exchange offer on a voluntary basis.

Idiots. Over 90 is voluntary and under is involuntary. It is under . What the f is he talking about?

ISDA to meet Friday to discuss if Greek swap is a credit event
http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_09/03/2012_432021

you better always see what the news tell you on your metatrader, more updated there.

a sell off from 3290 to 3225 is very significant move for Asian session on Eur/Usd relative to how much they usually move the market.

A fade/bluff from London or NY is possible to squeeze out shorts and get traders back in the long move going the wrong direction, so keep that possibility in mind. Also the NFP fade/bluff could also temporarily spike this thing up, but the general feeling is that NFP favors the dollar today (should lower QE3 expectations). Either of these events could push price back up to 3290 - 3330 range today.

I entered a short at the base of the technical supply range of 3288 for today. I wouldn't be trying to jump in at 3230 atm, although it's possible this thing is going right back to retest 3100 either today or Monday. I only take the highest probability entries personally.

3 yrs in the making and it ends soon. Very entertaining . Goodnight from ny. Always have good time reading all the comments, including the funny useless bs.

wow you speak so well, i wish i have you as my trading partner or mentor /teacher.
god bless you and all people that got educated in what they love to do.

Oh Jesus son of God have mercy on me a sinner

ISDA whitewash or another hurdle?

If you try to understand the market you're doomed to fail as a trader. May be good as a journalist though.

ISDA will delay decision until 23rd Mar. The high rate of involvement from Eurozone banks was a deal done via LTRO, these banks have already written down their losses on PSI, now the 130B Euro bailout will go ahead, the Greek people might get 20% of that money, the other 80% will go to the banks to shore up their balance sheets and everybody's happy. The Ponzi scheme goes full circle.

I think part of understanding the market is realizing that you are dealing with an irrational creature. That understanding alone protects you. If you walk into a room with an armed psychopath, your odds of survival are enhanced if you went into the room with foreknowledge of his condition and were properly armed and trained yourself.

There are a minority of fundamental analysts and technical systems that work to a greater extent than most people assume (look at the success of JP Morgan's trading firm in recent times), but it's important to realize when the market is going to disregard either or both. This part of trading cannot easily be learned in a book. It's a trial by fire that many traders never survive.

ISDA - international swaps and derivatives agency
CDS - credit default swap.
For newbies in the room

ISDA consortium to decide if CDS pulls or not.
But members are directly or indirectly the people who´d have to pay that insurance bill if they vote Yes.

It´s like having insured your house against tsunami.. then tsunami came destroying your house, but people who decide if your house is broken or not are same making the payout.

Everyone can see you sleeping on the street.. but big guys will tell you.. hey it was not tsunami, just more windy than normal and it´s not broken.. it´s reassembled..

LOL! day light robbery! > bloody Greeks must be dancing today!

non-trigger event. if it is, the CDS would have long been triggered by now. this is great news for those who are long risk. i am one of them.