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Economy
In reply to the discussion: STOCK MARKET WATCH -- Tuesday, 12 June 2012 [View all]xchrom
(108,903 posts)24. A Whole Bunch Of Impending Disasters That Are Staring Markets In The Face
http://www.businessinsider.com/negative-headlines-june-11-2012-6
***SNIP
SocGen FX strategist Sébastien Galy lists several things to worry about in a note tonight.
They include:
The ESM (European bailout fund) doesn't work. It makes sovereign bondholders less senior, and therefore is toxic.
Greece is about to have a potential "cliff-jumping" event, in the form of its election coming up on Sunday.
There are leaks coming out from the EU about imposing capital controls in Europe post Grexit. Not helpful.
A major downgrade of the US financial system could come any day now. Banks are getting pummeled.
There are some worries about Switzerland holding the line on the EURCHF floor.
Note that these are all acute things. Other worries like the US fiscal cliff and the Chinese hard landing are bigger issues. Also unmentioned is any spillover into Italy, which has mostly enjoyed calm the last few weeks.
Says SocGen's Galy: "It all feels very early 1980s when police would stop folks carrying suitcases of cash into Switzerland."
Read more: http://www.businessinsider.com/negative-headlines-june-11-2012-6#ixzz1xZhCMhX1
***SNIP
SocGen FX strategist Sébastien Galy lists several things to worry about in a note tonight.
They include:
The ESM (European bailout fund) doesn't work. It makes sovereign bondholders less senior, and therefore is toxic.
Greece is about to have a potential "cliff-jumping" event, in the form of its election coming up on Sunday.
There are leaks coming out from the EU about imposing capital controls in Europe post Grexit. Not helpful.
A major downgrade of the US financial system could come any day now. Banks are getting pummeled.
There are some worries about Switzerland holding the line on the EURCHF floor.
Note that these are all acute things. Other worries like the US fiscal cliff and the Chinese hard landing are bigger issues. Also unmentioned is any spillover into Italy, which has mostly enjoyed calm the last few weeks.
Says SocGen's Galy: "It all feels very early 1980s when police would stop folks carrying suitcases of cash into Switzerland."
Read more: http://www.businessinsider.com/negative-headlines-june-11-2012-6#ixzz1xZhCMhX1
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