13 Comments

  1. ooooooh! risk on, risk on!

  2. Hey Jamie,

    Unrelated (kind of) but I would be interested in your thoughts on this.

    http://www.irishtimes.com/newspaper/opinion/2012/0306/1224312849769.html

  3. did u mean 85%?

  4. 58 or 85???

  5. No, 58…Closing the gap…need 75…The chickens will only come home to roost over the next 24-hours…some holdouts are folding and taking the deal.

  6. What was that all about? Lucky I had already closed my position out.

  7. I guess 58% is good (for Euro)…would have expected a higher number (closer to 75%) to trigger any run-up seeing how the deadline is less than 24 hours away…would want something at least in the 60′s.

  8. Official figures are far lower, so if Bloomberg is right, they are getting closer to number needed…New potential Fed bond buying program was a big part of it…

  9. Above 75 will still trigger cds right? More than 66 needed to avoid hard default? Whats the difference 66-75%? thought only above 95 wont invoke using cac and triggering cds?

  10. adam wrote all about this yesterday…scroll back…

  11. Nice screechy tire handbrake turn there caught me in the middle of the road that’s for sure. Still, it’s a change from the I’m-a-duck-in-the-shooting-gallery kinda day …

  12. they’ll trigger cds regardless; and there are still shorts to squeeze… regardless of CDS ;)

    otherwise, fun trap… how can one push one day before ECB/PSI… weirdo…

  13. Hi Guys, this is what Adam wrote about PSI participaiton yesterday. Enjoy.

    http://www.forexlive.com/blog/2012/03/06/we-get-a-psi-participation-rate-then-what/

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