Impact on the markets



sport02

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GIGB10YR: Ireland 10 Year Summary - Bloomberg

Not looking good
Started well but now yield is higher than friday close.
The Irish rate is completely irrelevant now, we are locked out of the markets for three years, all the pressure and focus is now on the Portuguese and Spanish yields.
The circus has left town, headed south to Lisbon now, here the weather is a bit nicer down there.
 

Asparagus

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The Irish rate is completely irrelevant now, we are locked out of the markets for three years, all the pressure and focus is now on the Portuguese and Spanish yields.
The circus has left town, headed south to Lisbon now, here the weather is a bit nicer down there.
According to the IMF the "penal" interest rate is designed to push us back into the Bond Market.

So its maybe not that irrelevant.

When the circus leaves town - they should probably take the clowens with them
 

Asparagus

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The Irish rate is completely irrelevant now, we are locked out of the markets for three years, all the pressure and focus is now on the Portuguese and Spanish yields.
The circus has left town, headed south to Lisbon now, here the weather is a bit nicer down there.
Irish bailout provides little relief for markets - Stocks & Markets, Business - Independent.ie

Irish 10-year government bonds climbed today before the gains were erased, with the yield now up 7 basis points at 9.41pc. Portuguese, Spanish and Italian debt also fell, and the euro dropped to the lowest level in more than two months.
 

ffc

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Is this the first time?

After every other extraordinary, crisis meeting, which seem to happen every month these days, there has, at least been a temporary boost in confidence. Not this time. I predict a major financial implosion before christmas. It may be terrifying but it makes for great viewing, like watching armageddon at the restaurant at the end of the universe.
 

Asparagus

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After every other extraordinary, crisis meeting, which seem to happen every month these days, there has, at least been a temporary boost in confidence. Not this time. I predict a major financial implosion before christmas. It may be terrifying but it makes for great viewing, like watching armageddon at the restaurant at the end of the universe.
How negative - it might be like watching the start of a new universe at the Big Bang Burger Bar.
 

Cassandra Syndrome

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Spanish bond yield soaring, weak auctions in the EU today. Euro dropping like a stone. Soon the IMF will need a bailout.
 

Asparagus

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Spanish bond yield soaring, weak auctions in the EU today. Euro dropping like a stone. Soon the IMF will need a bailout.
Anglo - taking down the IMF!!!!!!!!!!!!!!!!!

hats off to Seanie he may have actually out achieved every irish man in impacting the world...
 
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Ssh,

RTE were painting a rosey picture on the 1pm News, dont ruin it for them!
 

sport02

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Dow Jones just sank quite abit in the last five mins. Down over 150pts on the day.
I think it is actually the Spanish and Portuguese threat impacting now, the Irish story is over for now.
 

Cassandra Syndrome

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Anglo - taking down the IMF!!!!!!!!!!!!!!!!!

hats off to Seanie he may have actually out achieved every irish man in impacting the world...
Leprechaun Contagion B1tchez!!!!
 

borntorum

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I never liked rollercoasters. they were always too scary to be enjoyable, but in a perverse way it's exciting to watch the potential destruction of the European economy unfolding before our eyes
 

Squire Allworthy

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All so predictable, gamblers gain and countries lose.

Why would anyone think that that bailout would impress? It is like going to war and shooting a percentage of your troops in the leg before battle commences. That will show the enemy we mean business!
 

sport02

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Sky news are talking about it now, breaking news, can't believe after the bailout their FTSE is off nearly 2%.
They are also reporting about their bank shares dropping and european bonds down, and dow jones down.
 

johnfás

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Dow Jones just sank quite abit in the last five mins. Down over 150pts on the day.
I think it is actually the Spanish and Portuguese threat impacting now, the Irish story is over for now.
It is about the endemic problems. If (a big if) the EU can afford to give a similar deal to Portugal and Spain (and then Italy and Belgium) it will still not solve the problem. The point is that the countries in question cannot absorb the debt and that is simply a fact. Ireland is probably the worst of them because of the tie in with the banks. However, the fact applies across the economies in question. The only thing that will solve the macro issue is quantitative easing and the only thing that will solve the Irish problem is a debt forgiveness/equity swap programme. These policies are inevitable and the investors know this. If they don't come now they'll come at some stage and European bonds will just be shorted - one nation by the next - until the correct policy decisions are made, however hard, because the investors know that they can win every time in the current scenario. Only way to solve the problem is to change the rules.
 


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