3. so far market acts as expected wave 5 has started with plenty of bad news
Submitted by Tyler Durden on 03/23/2011 09:21 -0400
Now that Europe is expected to keel over any minute, starting with the collapse of the Portuguese government, and proceeding right through the bankruptcy of Ireland, the market is starting to once again wake up. The first snooze button: Irish 10 Year bonds just passed above 10%, with numerous stops hit (see chart) for the first time in history. For all those who missed Citi’s recommendation to buy Ireland CDS in advance of an event of default, the report can be found here. Said CDS are still a bargain offered at 630, considering they hit 680 in
Radiation Level At Fukushima Reactor No. 2 At Its Highest Level Recorded So Far, Neutron Beam Observed 13 Times
Submitted by Tyler Durden on 03/23/2011 08:52 -0400
Per the Japan Nuclear Agency: the Radiation level at Fukushima reactor No. 2 at its highest level recorded so far. Only headlines for now. And just as the market was starting to buy the endless lies that things are getting better. And some more truthy news from Kyodo: Electric Power Co. said Wednesday it has observed a neutron beam, a kind of radioactive ray, 13 times on the premises of the Fukushima Daiichi nuclear plant after it was crippled by the massive March 11 quake-tsunami disaster.