AND FUTURES ROARRRRRRRRRRRRRRRRRRRRRRR LMAO
Crude Oil 101.53 +0.79 +0.78%
Natural Gas 2.5360 +0.0040 +0.16%
Gold 1726.10 +8.40 +0.49%
Dow 12905.00 +65.00 +0.51%
S&P 500 1355.10 +7.40 +0.55%
Nasdaq 100 2587.75 +11.75 +0.46%
Submitted by Tyler Durden on 02/14/2012 21:49 -0500
China
European Central Bank
European Union
Germany
Greece
Lou Jiwei
Reuters
In case one is wondering what lit a fire under the EURUSD and the ES' ass in the past 30 minutes, why it is the trusty old fall back - China, to which all algos respond every single time like stung donkeys as if on command. Because just as the EURUSD was about to retrace the lows as the realization that the EOD rumor was nothing but an infrared herring, something else had to step in an continue to rumor-based levitation. Sure enough, that something was the Chinese central bank.
CHINA PBOC'S ZHOU SAYS HE'S CONFIDENT EU WILL SOLVE CRISIS: MNI
CHINA PBOC'S ZHOU SAYS HE SUPPORTS EU, ECB MEASURES: MNI
PBOC'S ZHOU: CHINA WILL PARTICIPATE IN RESOLVING EU DEBT CRISIS
CHINA PBOC GOVERNOR ZHOU SAYS HE HAS CONFIDENCE IN EURO: MNI
And that's all it took to life the ES by over 10 points in minutes.
Sure enough, it took the market less thatn 24 hours to forget this piece of bailout trivia, from Reuters:
The head of China's $410 billion sovereign wealth fund CIC brushed aside a call by German Chancellor Angela Merkel to buy European government debt, saying such investments were "difficult" for long-term investors.
In comments ahead of a China-EU summit starting on Tuesday, Lou Jiwei, chairman of China Investment Corp (CIC), said any fresh injection of funds into Europe would be in industrial and other real assets, not government bonds.
His comments struck a sharper tone than a commentary in the Communist Party mouthpiece, the People's Daily, which sought to reassure the European Union that China had no intention to "buy up Europe."
Or, heaven forbid, recall this piece from 36 hours ago, via the FT, confirming that China can barely bail out its banks, let alone focus on Europe:
More,,,,,,,,,,,,,,,,,,,,,,,,,,,
http://www.zerohedge.com/news/rumor-regurgitation-time-china-rescue?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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