Pending conversations? PM for a chat...I am mainly in OTM now
The Really Useless Thread
- #61,101
- Feb 29, 2012 4:32am Feb 29, 2012 4:32am
- Joined Mar 2010 | Status: Technical Fundamentalist | 11,563 Posts
- #61,102
- Feb 29, 2012 4:35am Feb 29, 2012 4:35am
- Joined Nov 2009 | Status: voodoo boodoo hit man | 17,076 Posts
- #61,103
- Feb 29, 2012 4:35am Feb 29, 2012 4:35am
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
Don't be a hero. Don't have an ego. Always question yourself
- #61,104
- Feb 29, 2012 4:42am Feb 29, 2012 4:42am
- Joined Nov 2009 | Status: voodoo boodoo hit man | 17,076 Posts
The results for the second European 3 year discount window operation, pardon LTRO are in, and the winner is...
- ECB ALLOTS EU 529.5BLN IN 1,092 DAY REFINANCING TENDER
- ECB SAYS 800 BANKS ASKED FOR THREE-YEAR LOANS
Since the expected range was €200 billion - €1 trillion, and just above the median €500 billion, this is clearly within expectations, however notably less than what the Goldman investor survey expected at €680 billion. What is certainly scary is that the number of banks demanding a hand out was a whopping 800, well above the 523 from the first LTRO: clearly many banks are capital deprived.
http://www.zerohedge.com/sites/defau...nouncement.jpg
While unscientific, the fact that LTRO 1 saw €935.4 million, while LTRO 2 was at €661 million per bank, is probably not good at least optically, as it dilutes the average impact of the operation.
The ECB will now collect 1% on a total of €1.018 trillion. We wish the banks happy trails in finding way to monetize this in some carry trade opportunities.
Next the focus will be on how to spin this data as favorably as possible since both a lower and higher than expected number have been prerinsed favorably. And now, the easing focus shifts from Europe which has accepted about as much worthless collateral as it possibly can realistically, to the US, and Bernanke's testimony later today. Unless the Chairman somehow convinces the market that the easing theme will continue, the market, long rising on a wave of global central bank liquidity, will be in for a rude awakening.
Kneejerk market reaction to fade the news. Expect many more kneejerks before the morning is over.
http://www.zerohedge.com/sites/defau...D%202.29_0.jpg
- #61,105
- Feb 29, 2012 4:43am Feb 29, 2012 4:43am
- Joined Mar 2010 | Status: Technical Fundamentalist | 11,563 Posts
Pending conversations? PM for a chat...I am mainly in OTM now
- #61,106
- Feb 29, 2012 4:44am Feb 29, 2012 4:44am
- Joined Nov 2009 | Status: voodoo boodoo hit man | 17,076 Posts
- #61,107
- Feb 29, 2012 4:45am Feb 29, 2012 4:45am
- | Membership Revoked | Joined Aug 2011 | 7,263 Posts
If there was easy money lying around,no one would be forcing it into your
- #61,109
- Feb 29, 2012 4:47am Feb 29, 2012 4:47am
- Joined Nov 2009 | Status: voodoo boodoo hit man | 17,076 Posts
- #61,110
- Feb 29, 2012 4:48am Feb 29, 2012 4:48am
- Joined Jun 2011 | Status: UN-RE-TIRED | 12,773 Posts
- #61,111
- Feb 29, 2012 4:50am Feb 29, 2012 4:50am
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
idiots guide to implications please..
, you tell us, long @ 1.3430 sl 1.342 scalping
Don't be a hero. Don't have an ego. Always question yourself
- #61,112
- Feb 29, 2012 4:54am Feb 29, 2012 4:54am
- Joined Jun 2011 | Status: UN-RE-TIRED | 12,773 Posts
- #61,113
- Feb 29, 2012 4:54am Feb 29, 2012 4:54am
- Joined Nov 2009 | Status: voodoo boodoo hit man | 17,076 Posts
- #61,114
- Feb 29, 2012 4:55am Feb 29, 2012 4:55am
- Joined Apr 2010 | Status: Trader | 13,228 Posts
- #61,116
- Feb 29, 2012 4:59am Feb 29, 2012 4:59am
- Joined Nov 2009 | Status: voodoo boodoo hit man | 17,076 Posts
- #61,117
- Feb 29, 2012 5:02am Feb 29, 2012 5:02am
- | Membership Revoked | Joined Aug 2011 | 7,263 Posts
NY should clear the path and show us where the market is going
If there was easy money lying around,no one would be forcing it into your
- #61,119
- Feb 29, 2012 5:05am Feb 29, 2012 5:05am
- Joined Jun 2011 | Status: UN-RE-TIRED | 12,773 Posts