While we are on Greece, another non-surprise, Syriza leader Tsipras let the EU know what he has already hinted at, he sees little chance Europe will cut off funding to the country but that if it does, Athens will stop paying its debts. As I said, no surprise, this is what is causing all of the fuss in Europe over the elections and was suspected as early as the Sunday vote with Syriza taking second place-it's now just official.
FB-Facebook's IPO starts trading today, the IPO priced at $38 for 421.2 mn shares, making Zuckerberg the 29th richest person on earth, more than the Google founders.
Yesterday there was a lot of QE chatter, all kinds of speculation as to where and when, but I don't know if the market's performance is causing the increased chatter or if there's a whisper on Wall.
Overnight equities across the globe saw selling pressure over weaker than expected Chinese Housing Data (we just talked about this earlier in the week, soft landing for China? It looks increasingly like the answer will be no.).
Also overnight after the Moody'd downgrade of Spanish banks, the banks have asked the banking regulator to re-instate the short selling ban on Spanish banks .
News or rumors also broke that the European Commission and ECB are working on emergency plans in case there's a Greek exit from the EU. That rumor was denied, however an English money printing company, De La Rue, has drawn up contingency plans to print the Greek Drachma (The Greeks obviously can't do it as they don't even have ink to print tax forms).
Ransquak also reported there's talk of asset rotation from fixed income back in to equities-short squeeze coming?
As for the EUR/USD and ES overnight...
As such, we have our minimal gap up... Should be interesting today with FB and op-ex.
No comments:
Post a Comment