ES -- DX/CL -- isee -- cboe put/call -- specialist/public short ratio -- trinq -- trin -- aaii bull ratio -- abx -- cmbx -- cdx -- vxo p&f -- SPX volatility curve -- VIX:VXO skew -- commodity screen -- cot -- conference board

Tuesday, January 20, 2009

 

pricing in nationalization


credit markets as well as stocks, with treasuries retreating in spite of a day of carnage in equities. government debt did rally as stock index losses progressed from (-2%) through (-4%) to (-5.5%) on the day with bank stock indeces -- not an individual issue but the indeces -- down (-15%).

meanwhile the incredible rout of the british pound took another serious leg down today, and whipsers of a currency crisis are now growing into shouts as the government faces nationalizing RBS, HSBC and barclays all -- individually and collectively enterprises with balance sheets far larger than the government.

if this run on sterling continues to gain momentum, we could be looking at what would be recalled as a, perhaps the defining event of the panic. jim rogers, with his usual blunt flair, thinks the UK is "finished".

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