World economy talk

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Dutch 10 yr yield at record low 2%

Finland 10 yr yield also at record low 1.8%

[Monseratto]

Greece or JPMorgan affecting Markets?

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Greece

plenty of talk about Greece leaving the euro

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US 10 yr yield falls below 1.8%

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Facebook raises IPO price range to $34-$38 from $28-$35/share

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i almost forgot... Greece has a EUR430M bond that matures today

the amount is small but if it doesnt get paid it's still a default

--

if Greece leaves the euro there will be bank runs

banks across the eurozone will fall like dominos

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Greece to pay May 15 bond - govt official | Reuters

May 15 (Reuters) - Greece will pay holders of a 430 million euro bond that matures on May 15, a government official said on Tuesday.

"The bond will be paid," the official, who did not want to be named, told Reuters.

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EURUSD falls below 1.2800

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Greek President Told Banks Anxious as Deposits Pulled - Bloomberg

Greek President Karolos Papoulias was told by the central bank chief this week that financial institutions are becoming anxious about their prospects as Greeks pull out cash after the inconclusive May 6 elections.

Central bank head George Provopoulos told Papoulias that Greeks have withdrawn as much as 700 million euros ($891 million) and the situation could worsen, according to the transcript of the president’s meeting with party leaders on May 14 that was published yesterday.

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UK 10 yr yield record low 1.848%

Finland 10 yr yield record low 1.784%

Spain and Italy 10 yr yield at multi-month high

flight from risk

money flowing into German, UK, Dutch, Swedish, Finnish government debt

[Monseratto]

How are the yields of some of the PIIGS countries?

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Spain 10 yr 6.5%

Italy 10 yr 6%

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US 10 yr yield 1.75%

a bit lower is record low

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re this:

Central bank head George Provopoulos told Papoulias that Greeks have withdrawn as much as 700 million euros

update: that's just one day

5 billion euros have already been withdrawn from Greece banks since May 6

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They picked leaders that has polarized their goverment, and then abandon their banking system...that's greek patriotism.

[Monseratto]

NYMEX Crude

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Brent US$ 110, NYMEX US$ 93...

Greece and Oil

Oil dropped in New York to the lowest price in more than six months after U.S. crude stockpiles grew and talks to form a coalition government in Greece collapsed, raising concern that the region's debt crisis will worsen.

"We have demand destruction at the same time that supply risks are being relieved," said Hakan Kocayusufpasaoglu, chief investment officer at Archbridge Capital in Zug, Switzerland, who predicts that commodities will recover in the second half of the year. "What took the market by surprise is how quickly the European economic situation deteriorated. If Greece leaves, it sets a precedent, and the consequences for Europe would be catastrophic."

"Demand destruction is back on the agenda," said Jonathan Barratt, chief executive of Barratt's Bulletin, a commodity- markets newsletter in Sydney. "The market is going to remain weak over the next month or so until we get some clarity of what's happening in the world. The Greek turmoil is a problem."

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^^

it's coz of flight to safety. sell stocks&commodities, buy USD

____


Brent-WTI spread widens

very high crude inventory at Cushing

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ECB stops operations with some Greek bank: sources | Reuters

(Reuters) - The European Central Bank has stopped monetary policy operations with some Greek banks as they have not been successfully recapitalized, euro zone central bank sources said on Wednesday.

[Monseratto]

It's like saying the house is already on fire but it's not yet burned out...

Meanwhile, Greece's president Karolos Papoulias has taken a similar tone in that the withdrawals are frightening but not a sign of mass panic. "Of course there’s no panic but there’s great fear which can evolve into panic,” the president said. Not the most reassuring words but I guess that's how they do business in Greece.