Today's highs for the Spanish ten-year yields 5.9620%. Here we go - again.News And Market Re-Cap – RanSquawk / ZH
Frontrunning: April 10 – ZH
The Lunch Wrap – alphaville / FT
* Chinese inflation accelerates in March * China back to surplus as imports drop * Global stocks extend losing streak
Morning MarketBeat: QE3 – MarketBeat / WSJ
Morning Take-Out – DealBook / NYT
Daily Press Summary – Open Europe
Sarkozy promises EU budget contribution freeze; threatens empty chair policy over Buy European Act
Debt crisis: live – The Telegraph
Europe Crisis Tracker – WSJ
FX Options Analytics – Saxo Bank
EURO CRISIS
It wasn’t all that long ago that public intellectuals could make a coherent case that European union, both political and monetary, was and would be a great success story…But if by “the European experiment” we mean the euro, that’s been a disaster, and virtually everybody in Europe would have been better off had it never existed.
The Weekender – bruegel
On the ECB’s stance on inflation and the eligibility criteria for guaranteed bank debt in countries under a program.
Euro zone perspective – nowhere near out of the woods – MacroScope / Reuters
“We have made Italy, now we must make Italians.” So said Massimo d’Azeglio, an Italian intellectual, just after his country’s unification in 1861. The current generation of EU politicians face a modern version of the d’Azeglio dilemma: They have made a European Union, now they must make Europeans.
EDHEC on CDS Speculators and Eurozone Bonds – allaboutalpha
EDHEC-Risk, in a news release that accompanied O’Kane’s report, expressed the view that the ban on naked CDS’s may be counterproductive; that is, it may cause harm to the banking system by “removing one sovereign risk mitigation tool.”
French Presidential Election update – Place du Luxembourg
Sarkozy overtook Hollande in the middle of March and is holding on to his lead in the first round of the presidential election. However, Hollande remains the favourite for the second round.
MORE very HMMM charts We would like to share – Macrowonders
France is joing the PIGS...Which means there's really NOTHING safe anymore!...apart from those SUPER SHORTED US treasuries...and while this is putting EU equities under pressure...It has no effect on the good old EURO
OTHER
Earnings Season: Don’t Get Your Hopes Up – MarketBeat / WSJ
The number of companies in the S&P 500 that issued guidance last month was the second lowest monthly total since 2000, BofA says. Maybe companies are living by this age-old adage: If you don’t have anything nice to say, don’t say anything at all.
Bond Stock Correlation Changes – HistorySquared
[CVA] Revenge of the loan officer – alphaville / FT
Whenever you are promised cash in the future by someone who might not pay you back, you have credit risk…This means that derivatives trading often includes taking some credit risk, along with the more obvious market risks.
OFF-TOPIC
Commodore 64 - 25th Anniversary Celebration – youtube
Jack Tramiel passed away during the holidays, may he rest in peace. Here is a 1h30min video from 2007.
American Universities Infected by Foreign Spies Detected by FBI – BB
FiveBooks Interviews: Dava Sobel on the Early History of Astronomy – The Browser
The biographer of Copernicus and Galileo tells us about the men whose painstaking work changed our understanding of Earth’s place in the universe
What I Didn’t Learn in Econ 101 – NYT
For most professors, however, a fervent attachment to their discipline and the mathematical models within it mean that the financial crisis is still perceived as just another inconvenient anomaly.
On Academic Talks: Memory and Fear – Three-Toed Sloth
Once you understand the purpose of academic talks, it becomes clear that the two fundamental obstacles to giving good talks are memory and fear.