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Tuesday, December 27

27th Dec - No bazooka

Merkozy?
Very little material, probably the whole week will be one big holiday. The main news are the numbers from the ECB – most of the LTRO funding went back to ECB, not towards credit expansion or buying the bonds so that the ECB could have taken a break from SMP..

News (Tue evening) – BTH
FX option vols – Saxo
Markets Live – alphaville / FT
Debt crisis: live – The Telegraph
Europe Crisis Tracker – WSJ

LTRO money deposited back to ECBSpiegel, ZeroHedge and  ZeroHedge. LTRO money was almost all parked back to ECB. No wonder PIIGS bonds were again a case of “buy the rumor, sell the news”.

Can a Central Bank go bust?John Redwood
Normal CB cannot go bankrupt. If ECB is one, it should say it.

SEC Goes QuantThe Big Picture, WSJ
Data analysis reveals suspicious funds

Cop Logic for 2012Interloper
Europe and China are gonna be worse, and ‘cop logic’ dictates U.S. and stocks will follow.

30 big ideas for 2012 and beyondFidelity