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IDS World Markets Wed 25th February 09


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hey, fish of the sword, ever listen to skalpel? i believe they're based in wrocław. i've been grooving to these guys for a couple years.

 

http://www.youtube.com/watch?v=vJOMqRx40HA

 

 

Yeap, one of the best band from Poland in that genre of music. Unfortunately, I didn't hear anything about new album since 2005.

 

BTW Wrocław is one of the best place to party in Poland. Of course, it depends on what you are looking for. Main dance events (like Sensation White, which has origin in Amsterdam) are hosted their in Poland. The city is also nice. You should also check Krak?w which has one of the biggest marketplace in Europe.

Unfortunately, capitol (Warszawa) is not so pretty because of the polish uprising in '44 (90% of the buildings/city was destroyed during this uprising). This uprising is one of the most unknown story to the Europe - thanks to polish very poor PR.

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German GDP for Q4:

-2.1% q/q, -1.6% y/y

 

UK GDP for Q4:

-1.5% q/q, -1.9% y/y

 

Currently, german main indice (DAX) is at 3960.49 (+64.74, +1.66%)

 

USDJPY hi new high:97.320 and still refuse to go down.

BTW, I'm not pretty sure if this cross is still the main carry trade oil. Couple years ago, there was a great difference between interest rate in Japan and other counties. Now, in US or Switzerland, the interest rate are also low so I don't see a point why should anyone use JPY for carry trade now.

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Germany Says It May Focus on Selling Short-Term Debt

Feb. 25 (Bloomberg) -- Germany may increase sales of short-dated securities at the expense of longer-term or index-linked bonds if government borrowing rises more than forecast, said the head of the country?s Federal Finance Agency.

http://www.bloomberg.com/apps/news?pid=206...&refer=bond

 

Ukraine Ratings Cut to CCC+ by S&P on IMF Loan Risk

Feb. 25 (Bloomberg) -- Ukraine?s credit rating was cut two levels by Standard & Poor?s, a day after Latvia was downgraded to junk, because political turmoil poses growing risks to the country?s International Monetary Fund loan.

http://www.bloomberg.com/apps/news?pid=206...&refer=home

 

EU Officials Concerned About Risks of Pound Drop

Feb. 25 (Bloomberg) -- European Union officials are concerned that the pound?s slide to a record low against the euro could destabilize the British economy, according to a document prepared last month by European Commission and EU finance ministry officials.

The pound?s ?very rapid? drop ?raises questions about the financial stability of the British economy,? said the document, which was prepared ahead of the Feb. 14 Group of Seven meeting in Rome and obtained by Bloomberg News. The currency?s weakness ?is a source of concern for the euro area.?

http://www.bloomberg.com/apps/news?pid=206...&refer=home

 

Polish Central Bank Reduces Benchmark Rate to 4%

Feb. 25 (Bloomberg) -- Poland?s central bank reduced its benchmark interest rate by a quarter of a percentage point, less than economists forecast, on concern a deeper cut would weaken the zloty further and spark inflation.

http://www.bloomberg.com/apps/news?pid=206...fer=east_europe

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Good Morning!

 

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spy holding at the 8 day cycle MA at 76.96, above the 3 day at 76.77 and the 5 day at 76.55. Those are the key levels that need to hold to keep the rally going. Otherwise the rollover could be pretty fierce. TNX starting with a strong pop. That usually corresponds with a stock rally.

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Apparently Senator Dodd is as confused about mark-to-market as he says he is about prevailing mortgage rates..... bahahahah, UFB!!!!

 

Senate Banking Committee Chairman Chris Dodd is feeling more housing related heat. Already under pressure for accepting below-market mortgage rates from Countrywide as a ?Friend of Angelo,? the Hartford Courant says the Connecticut Senator may also have paid a below market price for an Irish cottage in exchange for a pardon allegedly granted by President Clinton at Dodd?s request. The paper says the Senator continues to declare the value of the cottage at $100,001-$200,000 in Senate filings, despite a market value likely in excess of $1mm.

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Apparently Senator Dodd is as confused about mark-to-market as he says he is about prevailing mortgage rates..... bahahahah, UFB!!!!

 

Senate Banking Committee Chairman Chris Dodd is feeling more housing related heat. Already under pressure for accepting below-market mortgage rates from Countrywide as a ?Friend of Angelo,? the Hartford Courant says the Connecticut Senator may also have paid a below market price for an Irish cottage in exchange for a pardon allegedly granted by President Clinton at Dodd?s request. The paper says the Senator continues to declare the value of the cottage at $100,001-$200,000 in Senate filings, despite a market value likely in excess of $1mm.

 

 

The apple does not fall far from the tree.

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