MY LADIES CHATROOM:
JP: Do we have a date or window in which Iraqi bonds will be sold?
PrincessDD: The are talking about Thursday.
Princess DD: Bond Market Sends Fed All-Clear to Raise Interest Rates http://www.bloomberg.com/news/articles/2015-09-07/bond-market-sends-fed-all-clear-signal-to-raise-interest-rates
Princess DD: Iraqi Bonds Struggle to Attract Investors http://www.businessweekme.com/Bloomberg/newsmid/190/newsid/1067/Iraqi-Bonds-Struggle-to-Attract-Investors
Traveluvrs: So, international on Thursday .
PrincessDD: we will see I guess. Things tend to get delayed a lot.
JP: We have heard a few weeks ago how officials from the CBI or Iraqi govt. are talking about how they want to go back to pre-2003 rates as soon as possible. Now many are speculating we’re going to have to wait until 2016. I’m just trying to take the temperature of this room. What say ye? What does the evidence show?
AW: It appears that the story here is that Iraq is having problems finding the investors to buy their bonds.
DS: If it is international on thursday, so it does not matter in what currancy it is sold right?
PrincessDD: I think ML said last week that it will have no bearing on us. They already have the rates for those bonds.
LM: Also, they sold bonds in 2006 - so the exchange rate of their currency has nothing to do with selling bonds, isn’t that right?
JP: Why the seemingly sudden change in view? Did something economically happen?
AW: If Iraq sells bonds denominated in another country's currency (such as the EuroBond) then the status of the IQD is a non-factor.
As lM just stated,.......Iraq sold international bonds in 2006 and the IQD had a progammed rate at that time too.
MY LADIES: THEY WILL BEGIN MAKING INVESTOR ROUNDS ON THURSDAY FOR THOSE ASKING THEY HAVE NO DATE FOR A SALE YET
SELLING EUROBONDS MEANS NO NEED FOR DINAR TO MOVE OR GO ANY WHERE.
THAT IS WHAT CHANGED IN THE ROOM JP, THEY ANNOUNCED EURO BONDS ...NO NEED FOR THE DINAR YET, INTERNATIONAL OR OTHERWISE.
EVERYTHING INCLUDING IRAQ IS POINTING TO NEXT YEAR BUT WE WAIT AND SEE.
MY LADIES: AS I HAVE SAID BEFORE AS LONG AS THEY ARE USING THEM AS COLLATERAL IN THE COUNTRY AND SELLING UNTIL SEPT 30 I DO NOT SEE HOW THEY WILL SELL INTERNATONALLY BEFORE THAT.
AND AGAIN TO BE CLEAR THEY ARE EURO BONDS AND IF THIS HITS RECAPS PLEASE FOLKS UNDERSTAND EURO BONDS HAS NOTHING TO DO WITH THE EURO!!!
THIS IS THE TIME FOR FOLKS TO GET EDUCATED. I AM HAPPY THIS ROOM UNDERSTANDS AND I EXPLAINED T IN DETAIL LAST WEEK.
BUT SOME SILLY FOLKS THINK THEY ARE SELLING BONDS IN EURO SPECIFIC AND THAT IS NOT CORRECT
MY LADIES: IN 2006 INTERNATIONAL BONDS WERE SOLD IN USD...THIS TIME THEY WILL BE SOLD IN ANY CURRENCY EXCEPT DINAR.
THE G20 TALKED ABOUT CURRENCY SWAPS... NOW WE SEE THIS EURO BONDS...WHAT IS IT TELLING YOU..
I SEE THIS FROM YARDS AND YARDS DOWN THE ROAD...
LM: So, am I correct in thinking we could still see the re-price of the dinar at any time - given that it’s not about Iraq any more, it’s about the Powers That Be struggling over the implementation of a new financial system, and old timers who do not want that change.
Seems to me when that is all sorted out/ won/lost, then things will shift accordingly. So, it could happen today, or next week, month, this year… but I for one am not looking to 2016/ 2017…
At least I pray we are closer than that (yn)
Sager: One cannot specifically look at 2015 2016 or 2017 because none of us have a clue as to exactly when. Just last week we thought we were closer than we thought and now we're talking about not 2015. So best bet is to observe and enjoy what is happening inside and outside of Iraq.
We can look at global economics, but for the sake of not living in extremes, we must also look at inside Iraq. Perhaps not as deep as outside, but still look and filter through economic eyes.
MY LADIES: YES SAGER GOOD IDEA...BUT LET'S NOT LOOK TO HARD INSIDE IRAQ...I THINK WHAT WE'RE SEEING IS THAT THEY WILL HAVE TO MOVE WHEN EVERYONE ELSE HAS….. LET'S NOT GET STUCK IN THE WEEDS OF IRAQ... IS A BETTER WAY OF SAYING IT
PrincessDD: Nuclear deal: Iranians eager to buy foreign goods after sanctions are lifted https://www.ibtimes.co.uk/nuclear-deal-iranians-eager-buy-foreign-goods-after-sanctions-are-lifted-1518862
Princess DD: China plans stock market 'circuit breaker' to curb volatility
Trading would be suspended for half an hour if the indexes fall by 5% according to a proposal by the securities regulator
Princess DD: China’s trade surplus surges 40% as imports plummet http://www.ft.com/intl/cms/s/0/526f2e12-55da-11e5-a28b-50226830d644.html#axzz3l8soj07K
Princess DD: Nikkei Erases 2015 Gains, China Stocks Close Higher
More weak China data adds to concerns over health of the country’s economy http://www.wsj.com/articles/asian-shares-watch-china-data-for-cues-1441677056
Princess DD: China's economic distress is risk to global economy: IMF and ECB http://www.vcpost.com/articles/89702/20150907/chinas-economic-distress-risk-global-economy-imf-ecb.htm
PrincessDD: Low Oil Price Threat to Iraq’s Eurobond Bid http://www.iraq-businessnews.com/2015/09/07/low-oil-price-threat-to-iraqs-eurobond-bid/
Princess DD: IMF cautions Fed on conditions when it decides to increase interest rates
The US Federal Reserve must be certain that the job market and inflation are strong enough to justify raising interest rates, IMF managing director Christine Lagarde said after a G20 meeting focused on the pressure the increase might place on the global economy. http://en.mercopress.com/2015/09/08/imf-cautions-fed-on-conditions-when-it-decides-to-increase-interest-rates