Throw a Bomb and Lose your Leg
Reversals are really not my thing.
But only China has this power.
15Feb12 RTRS-WASHINGTON-CHINA VICE FINANCE MINISTER SAYSCHINA,U.S.MAINTAIN “VERY CLOSE CONTACT” ON FINANCIAL CRISIS, EURO ZONE
12:35 15Feb12 RTRS-WASHINGTON-CHINA VICE FINANCE MINISTER REPEATS CHINA WILLING TO PARTICIPATE IN CONCERTED ACTIONS TO HELP EUROPE VIA IMF, G20
12:36 15Feb12 RTRS-WASHINGTON-CHINA VICE FINANCE MINISTER SAYSCHINACONTINUES TO INVEST INEUROPE, HAS NOT ADJUSTED “INVESTMENT STRUCTURE”
12:53 15Feb12 RTRS-China vice finmin says working with US onEuropedebt
And another PR headline
ChinaAnnounces $27 BillionU.S.Purchasing Campaign
Leads us to conclude
WARNING : BANKING MAY BE HAZARDOUS TO YOUR HEALTH
http://online.wsj.com/article/SB10001424052970204062704577223623824944472.html
Overnight News
* Thai bomber was Iranian !!! and he maimed himself in the explosion as his bomb bounced off a tree back at him
* Iranian suicide gunships flank USS Abraham Lincoln as it passes through the Straits of Hormuz
* EU fin ministers skeptical of Greek PSI. Schaeuble says EU now better prepared shouldGreecedefault
* Plosser says monetary policy cannot do more
**most important now is that USDJPY is above 200 day m.a. so I m buying some for the day.
** breaking news : GOP lawmakers say House- Senate has reached tentative pact on payroll tax cut
Where do we stand
| MY WORLD (per USD) | 14 Feb – 15 Feb | |
| New Zealand Dollar | NZD | 0.58 |
| Australian Dollar | AUD | 0.52 |
| Canadian Dollar | CAD | 0.41 |
| Singapore Dollar | SGD | 0.41 |
| Malaysian Ringgit | MYR | 0.35 |
| Norwegian Krone | NOK | 0.34 |
| Euro | EUR | 0.31 |
| Swiss Franc | CHF | 0.31 |
| Taiwanese Dollar | TWD | 0.29 |
| British Pound | GBP | 0.23 |
| South Korean Won | KRW | 0.21 |
| Indian Rupee | INR | 0.20 |
| Philippine Peso | PHP | 0.18 |
| Indonesian Rupiah | IDR | 0.11 |
| Thai Baht | THB | 0.00 |
| Brazilian Real | BRL | 0.00 |
| Chinese Renminbi | CNY | -0.04 |
| Japanese Yen | JPY | -0.08 |
Above looks like risk reversal to me.
Bad News ?
I am staying out.
There is just too much big picture out especially with the EU Finance Minister Summit to be postponed to Monday andPortugal vs IMF today to be comfy with.
And I am not sure if people have read this one ? Greek Potential Prime Minister says he may not honour a bailout deal !!! http://inagist.com/FT/169428480235290624/
Core positions : Still long USD/JPY although the accumulator position was knocked out at 78.30 this morning, short small AUD/CAD, long VIX to hedge long SILV.
Someone just asked me if its worth a punt for retail buying of Greek bonds that are maturing next month.
Any thoughts ?