World economy talk

**uls** · November 29th, 2011 10:56 AM

EXCLUSIF S&P pourrait placer le triple A (AAA) français "sous perspective négative" d'ici 10 jours

NOTATION - 28/11/2011 | 21:29 - 394 mots
D'ici dix jours, le triple A français risque de se retrouver "sous perspective négative"

Selon plusieurs sources contactées par La Tribune, l'agence de notation Standard & Poor's pourrait préparer la France à la perte de son "triple A".

Nouvelle rumeur de marché, pour faire décaler les taux avant la dernière adjudication d'obligations OAT de l'année, ce jeudi ? Ou bien préparation des esprits à l'inéluctable ? Selon plusieurs sources concordantes, Standard & Poor's (S&P) pourrait bien annoncer "sous peu" le placement de la note AAA de la France sous "perspective négative". Ce serait la première étape avant l'abaissement de cette note, la plus haute, dont jouit l'Hexagone. "Cela pourrait intervenir sous une semaine, ou peut-être dix jours", affirme une source diplomatique, qui ajoute qu'il y aurait actuellement une intense réflexion en ce sens au sein de l'agence.

translated:

NOTATION - 28/11/2011 | 21:29 - 394 words
In ten days, the triple A French risk of being "negative outlook"

Several sources contacted by The Tribune, the rating agency Standard & Poor's may prepare France for the loss of her "triple A".

New rumor market to offset the rate before the last bond auction OAT of the year this Thursday? Or preparation of minds to the inevitable? According to several sources, Standard & Poor's (S & P) may well announce "shortly" the placement of the AAA rating of France as "negative outlook". This is the first step before the lowering of the rating, the highest, enjoyed the Hexagon. "It could happen in a week or maybe ten days," said a diplomatic source, who adds that there are currently an intense reflection in this direction within the agency.

**uls** · November 30th, 2011 12:44 AM

Germany 10 yr yield

US 10 yr yield

spread widening

**uls** · November 30th, 2011 01:04 AM

brent $110

Iran

**uls** · November 30th, 2011 11:13 PM

the Fed and other central banks act on worsening dollar funding problem

FRB: Press Release--Coordinated central bank action to address pressures in global money markets--November 30, 2011

Press Release

Release Date: November 30, 2011

For release at 8:00 a.m. EST

The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing coordinated actions to enhance their capacity to provide liquidity support to the global financial system. The purpose of these actions is to ease strains in financial markets and thereby mitigate the effects of such strains on the supply of credit to households and businesses and so help foster economic activity.

These central banks have agreed to lower the pricing on the existing temporary U.S. dollar liquidity swap arrangements by 50 basis points so that the new rate will be the U.S. dollar overnight index swap (OIS) rate plus 50 basis points. This pricing will be applied to all operations conducted from December 5, 2011. The authorization of these swap arrangements has been extended to February 1, 2013. In addition, the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank will continue to offer three-month tenders until further notice.

As a contingency measure, these central banks have also agreed to establish temporary bilateral liquidity swap arrangements so that liquidity can be provided in each jurisdiction in any of their currencies should market conditions so warrant. At present, there is no need to offer liquidity in non-domestic currencies other than the U.S. dollar, but the central banks judge it prudent to make the necessary arrangements so that liquidity support operations could be put into place quickly should the need arise. These swap lines are authorized through February 1, 2013.

Federal Reserve Actions
The Federal Open Market Committee has authorized an extension of the existing temporary U.S. dollar liquidity swap arrangements with the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank through February 1, 2013. The rate on these swap arrangements has been reduced from the U.S. dollar OIS rate plus 100 basis points to the OIS rate plus 50 basis points. In addition, as a contingency measure, the Federal Open Market Committee has agreed to establish similar temporary swap arrangements with these five central banks to provide liquidity in any of their currencies if necessary. Further details on the revised arrangements will be available shortly.

U.S. financial institutions currently do not face difficulty obtaining liquidity in short-term funding markets. However, were conditions to deteriorate, the Federal Reserve has a range of tools available to provide an effective liquidity backstop for such institutions and is prepared to use these tools as needed to support financial stability and to promote the extension of credit to U.S. households and businesses.

**uls** · November 30th, 2011 11:16 PM

risk on

**Monseratto** · December 1st, 2011 08:16 AM

NYMEX Crude

**uls** · December 1st, 2011 10:48 AM

re central bank coordinaton -- i don't think it's coz a major euro bank was about to fail

but it's being talked about... people love conspiracy theories

Central Bank Intervention Raises Questions - Forbes

Central Bank Intervention Raises Questions
Nigam Arora, Contributor
+ Comment now
Did a big European bank come close to failing last night? European banks, especially French banks, rely heavily on funding in the wholesale money markets. Given the actions of the world’s largest central banks last night, it raises the question of whether a major bank was having difficulty funding its immediate liquidity needs.

Jim Cramer (*jimcramer) on Twitter

*jimcramer
Jim Cramer
It is more likely that i go to DEFCON 2 by the weekend than stay at DEFCON 3 or go to 4, because i don't trust the Europeans.
1 hour ago via TweetDeck

*jimcramer
Jim Cramer
The action the governments took today shows that there was without a doubt a major bank about to fall this weekend. That's very dire....
2 hours ago via TweetDeck

*jimcramer
Jim Cramer
Talking about the Financial D-Day tonight... Our country rescued Europe again....
4 hours ago via TweetDeck

*jimcramer
Jim Cramer
I believe a major European Bank would have gone under this weekend....That's why they did this....
5 hours ago via TweetDeck

*jimcramer
Jim Cramer
DEFCON 2 Averted. Probably would have had to go to it tonight given the huge overnight borrowings from Euro Banks..
5 hours ago via TweetDeck

**uls** · December 1st, 2011 11:28 AM

China PMI Falls for First Time Since 2009 - Bloomberg

China PMI Falls for First Time Since 2009

By Bloomberg News - Dec 1, 2011 9:25 AM GMT+0800

China’s manufacturing contracted for the first time since February 2009 as the property market cooled and Europe’s crisis cut export demand, a survey showed.

The Purchasing Managers’ Index fell to 49.0 in November from 50.4 in October, the China Federation of Logistics and Purchasing said in a statement today. The median estimate in a Bloomberg News survey of 18 economists was 49.8. A level above 50 indicates expansion.