12th Apr - Credit Guest: All Quiet on the Western Front

by Macronomics, enjoy!

12th Apr - I scream for ice cream

Just got my lab results. fP-Kol 8.6 and fP-Kol-LDL 6.8.... there goes my ice cream and no comments today. MoreLiver is very, very angry.

12th Apr - Morning Briefings

Here are Thu morning briefings. For articles, see yesterday's Anticipation of Violence and SAGGY: Spanish Announcement Games. Follow MoreLiver on Twitter, Facebook, email, paper.li. 

11th Apr - Anticipation of Violence

From the Macrowonders' post, linked below.

Boring day. Announcement games, as I wrote earlier. The verbal intervention is often a more powerful weapon than the real thing. If the ECB would intervene, there would be no more a threat of the intervention. Anticipation of violence (or violent losses) hurts a lot - fear and greed, grandpa tells 'ya, fear and greed. 

An actual SMP purchase campaign would not really help Spain, as after the Greek PSI haircut it is obvious that any support now would only hurt bondholders more in the future.

11th Apr - SAGGY: Spanish Announcement Games, Good Yield

So we got some talk that ECB could buy Spanish bonds, and the 10-year yield dropped back below the dreaded 6%-level. Usual announcement games, if you ask me.

 

Quote of the Day by Peter Tchir: Talk is cheap, but there is real concern within the EU that bonds on the ECB balance sheet cause problems. They would like to shift SMP to EFSF (it is part of it’s bigger mandate), but so far haven’t. They also know once they start buying, it will be a clear indication that LTRO failed. TF Market Advisors