 |
| Time to sell bonds? |
Lunch time update: Goldman has a PR disaster - more in the links below. Check last evening's post for views. You can follow MoreLiver via Twitter, Facebook, email and paper.li
News And Market Re-Cap – RanSquawk / ZH
Today in the euro zone – MacroScope / Reuters
The Lunch Wrap – alphaville / FT
EZ Crisis Daily Press Summary – Open Europe
EZ Crisis Daily Press Summary – Open Europe
EURO CRISIS:
Is Another Record ECB Margin Call Impairing Gold Again? – ZH
ECB has increased its margin calls on European banks by EUR162 million this week to another record high of over EUR17.3 billion.
ECB has increased its margin calls on European banks by EUR162 million this week to another record high of over EUR17.3 billion.
The governor of China's central bank, Zhou Xiaochuan, said that a slow world recovery process and the unstable economic and financial situation in Europe will be the big unknowns for China's economy this year.
PODCASTS
RIA’s Stamenkovic Says Fed Will Not Do More QE – BB (mp3)
SocGen’s Tata Sees Very Good Chance of More QE – BB (mp3)
Monument’s Lewis Sees Gradual Rise in Interest Rates – BB (mp3)
BizDaily: Hedge funds – BBC (mp3)
Have the managers of hedge funds, not their clients, soaked up most of the industry's profits?
100 YEAR BONDS
They Will Come – Macro Man
The War Loan remains one of the shrewdest moves the UK Treasury have ever made, effectively shafting those who bought it in real terms. Which is why TMM think it would be a great idea to issue another one to lock in the very low Gilt yields for the future.
I Will Gladly Pay You 100 Years From Now, For a Hamburger Today – Mish’s
At some point, even if there is no default, those 100-year bonds will go for 20 cents on the dollar if not less.
Steer Clear of the 100-Year – The Source / WSJ
A century of gilt – alphaville / FT
GOLDMAN SACHS LETTER
Why I Am Leaving Goldman Sachs – NYT
Executive director and head of the firm’s United States equity derivatives business in Europe, the Middle East and Africa: TODAY is my last day at Goldman Sachs. After almost 12 years at the firm — first as a summer intern while at Stanford, then in New York for 10 years, and now in London — I believe I have worked here long enough to understand the trajectory of its culture, its people and its identity. And I can honestly say that the environment now is as toxic and destructive as I have ever seen it.
How to Quit a Job Without Publishing an Op-Ed – The Reformed Broker
Why I am leaving the Empire, by Darth Vader – The Daily Smash
Bankers versus bitching rights, a graphical representation – alphaville / FT
Goldmanite dynamite – alphaville / FT