Thanks My Ladies for letting us share from your Private Chatroom today:
MY LADIES: Guolian Securities Crushed in Worst Hong Kong Debut of This Year
July 5, 2015 — 10:58 PM EDT
Chinese brokerage Guolian Securities Co. sank in the worst major Hong Kong debut this year, even after China rolled out emergency measures to stabilize the nation’s stock market.
Guolian plummeted 33 percent from its offer price to HK$5.35 as of 10:51 a.m. Monday. That compared with a 2.7 percent decline for the benchmark Hang Seng Index.
The offering raised $457 million, with some of that money to be used to expand the firm’s margin-financing business. The debut was the worst this year for any Hong Kong initial share sale of at least $100 million, Bloomberg data show.
MY LADIES: ANOTHER 2 MIN IS VERY IMPORTANT...HOW WILL WE OPEN IN A FEW HOURS??
Greece shakes global markets 1 Hour Ago
CNBC's Dominic Chu discusses the impact of the Greek vote on the world markets and futures.
MY LADIES: IT'S HAPPENING...THIS IS THE PLAN WE'RE WATCHING UNFOLD…… THINGS ARE SLIDING EVERY WHERE
Dale: which should trigger derivatives to collapse…then the race is on
MY LADIES: BUCKLE UP DALE...BUCKLE UP
MY LADIES: I'M GOING TO POST SOMETHING FROM PIF, HE DID A GOOD JOB AND I AM SOOOOO HAPPY TO SEE DINARLAND COMING AROUND TO THE LOGICAL SIDE OF THINKING..
HE REALLY DID A GOOD JOB WITH THIS ONE
MY LADIES: I EVEN COMMENTED ON IT IN RECAPS...HE DID A GOOD JOB
MY LADIES: [Sunday, July 05, 2015 11:10 PM] MODELLER52:
<<< http://finance.ninemsn.com.au/newsbusiness/9004878/australian-market-skids-on-greeceMODELLER52, Yesterday 11:10 PM
The Australian share market is down well over one per cent in the wake of debt-ridden Greece's decision to reject international creditors' tough bailout terms.
This reportedly equates to a drop of more than $20 billion in value.
CMC Markets chief market strategist Ric Spooner said the `No' result in Greece's referendum and lower commodity prices were behind the market's sharp drop.
But, "Greece is the main factor," Mr Spooner said.
On Sunday, Greeks voted overwhelmingly to reject the budget austerity reforms that creditors had proposed in exchange for loans the country needs to avoid default and a banking collapse.
The `No' vote makes a chaotic departure from the shared euro currency more likely, experts say, though negotiations will resume.
MY LADIES: WE ARE UNDERWAY NOW..
[Sunday, July 05, 2015 11:10 PM] MODELLER52: <<< http://finance.ninemsn.com.au/newsbusiness/9004814/a-hits-six-year-low-amid-greek-no-voteMODELLER52, Yesterday 11:10 PM
The Australian dollar has hit a six-year low as Greece looks set to reject further austerity cuts in a bailout referendum.
At 0700 AEST on Monday, the local unit was trading at 74.78 US cents, down from 75.84 cents on Friday.
The local currency dipped below 74.52 US cents in early morning trade, it's lowest level since May 2009.
Early referendum results show that more than 61 per cent of Greeks had voted 'No' to creditor demands for further austerity in return for a bailout.
ANZ senior FX manager Sam Tuck said markets had adopted a risk-averse sentiment, and investors on Monday would be watching for the European response.
Germany and France are calling for a special summit of eurozone leaders, as a Greek failure to reach a deal with it's creditors could trigger the country's exit from the eurozone.
MY LADIES: OH YEA THE G7 AND EVERYONE ELSE ARE IN HYPER DAMAGE CONTROL
Coolhounds (Di): <<< oh, you are up late. Are you joining us night shifters?
MY LADIES: LOL..YES DI, I AM TONIGHT, THE MARKETS ARE GOING CRAZY, AND MY PHONE IS BUZZING OFF THE HOOK...LOL.. THIS WHOLE MARKET IS LITERALLY HELD TGETHER WITH CHEWING GUM....
China Bulls Lured by State Support Are Already Sitting on Losses
by Kyoungwha Kim July 5, 2015 — 11:17 PM EDT
Updated on July 5, 2015 — 11:53 PM EDT
The biggest intraday surge in Chinese stocks since 2008 has turned into a money-losing day for investors who piled in at the height of a rally sparked by government measures to prop up prices.
The Shanghai Composite Index, which jumped 7.8 percent at the open on Monday, pared its advance to 2.2 percent by the midday break. More than 1,000 of the index’s 1,106 shares are now trading lower than their volume-weighted average prices. The ChiNext index of small-cap stocks lost 4 percent, while the Shenzhen Composite Index sank 2.6 percent.
Mainland shares surged at the start of trading after authorities unveiled a series of market-boosting measures, brokerages pledged to buy shares and state-run media encouraged China’s 90 million stock investors to have confidence in the market. JPMorgan Chase & Co. and Bank of America Corp. advised clients to sell on rallies
CH: how could WallStreet, et al, not see this coming?
MY LADIES: THEY THOUGHT THEY WOULD GIVE IN... BUT WE AREN'T EVEN IN OUR MARKETS YET, SO FAR ONLY ASIA AND AUSTRAILA ARE TRADING...
EUROZONE COMES ON LINE SOON
MY LADIES: Greek ‘No’ Follows Month of Hedge Fund Caution as Shorts Jumped
July 6, 2015 — 12:00 AM EDT
Hedge funds riding equities toward their best year since the financial crisis turned cautious in the runup to Greece’s “no” vote Sunday.
Rising short sales sent a gauge of manager bullishness compiled by Evercore ISI down 1.3 percentage points over the past month, putting the measure of short and long exposure close to neutral. Hedge funds are up 2.6 percent in 2015, beating the Standard & Poor’s 500 Index’s 0.9 percent gain and leaving managers up on the gauge for the first time since 2008.
While buying stocks and reducing shorts in the U.S. made sense after a six-year bull market added $17 trillion to share values, trying to game the outcome in Greece has been another matter. Greeks voted against accepting further austerity in exchange for a new European bailout, increasing the chances of the country having to abandon the euro.
MY LADIES: OH MY...LOOK AT ALL THE ACTION COMING FROM VIENNA NOW AND THE IRAN DEALS...
OK HERE WE GO...FIRST A VIEW FROM OVER THERE
US-led talks with Tehran appear to have reached a deal on sanctions relief: but what about access to Iranian nuclear sites?
By: Rachel LevyPublished: July 5th, 201
MY LADIES:HERE ARE JUST HIGH LIGHTS
A tentative deal on sanctions relief may have been reached between the six world powers and Iran negotiating in Vienna over Tehran’s nuclear development program.
The current document under consideration outlines which sanctions will be lifted, when and how
MY LADIES: A FEW SANCTIONS LIFTED IS WE REALLY NEED... BECAUSE ANY SANCTIONS LIFTED SPELLS CURRENCY BACK!
Despite recent proclamations by Supreme Leader Ayatollah Ali Khamenei insisting that all sanctions be lifted at once, Iranian negotiators are quietly speaking a different language.
As centrifuges are disconnected, some sanctions will be lifted. As the country’s nuclear stockpile is reduced, more will be lifted. When the heavy water reactor in the city of Arak is converted to produce plutonium that is not weapons grade, then more sanctions will be lifted.
MY LADIES: AND NOW A VIEW FROM THIS SIDE OF THE WORLD...LOL...
Kerry urges Iran to make 'hard choices', says U.S. ready to walk
VIENNA (Reuters) - An Iranian nuclear agreement is possible this week if Iran makes the "hard choices" necessary, but if not, the United States stands ready to walk away from the negotiations, U.S. Secretary of State John Kerry said on Sunday.
Speaking during a break from one of his four meetings with Iranian Foreign Minister Mohammad Javad Zarif on Sunday, Kerry said they had made "genuine progress" in talks over the last few days but "several of the most difficult issues" remain.
"If hard choices get made in the next couple of days, made quickly, we could get an agreement this week, but if they are not made we will not," he said in Vienna, where talks between Iran, the United States and five other powers are being held.
Hong Kong Stocks Sink Most Since ’12 on China, Greece Double Hit
Hong Kong stocks sank toward their steepest drop since 2012 amid speculation Chinese investors were shifting money out of the city’s market and as Greece’s rejection of austerity measures spurred equity declines across Asia.
Hong Kong Exchanges & Clearing Ltd. tumbled 9.8 percent at the lunch break, on course for its biggest decline since October 2008, after Goldman Sachs Group Inc. recommended selling the shares. Haitong International Securities Group Ltd. slid 15 percent as mainland brokerages slumped. Internet company Tencent Holdings Ltd. fell 7 percent, dragging the city’s benchmark equity index lower.
Dale: look out derivatives!!!
MY LADIES: AND HERE YOU GO DALE....
China’s Push to Save Market Risks Adding Another Victim: Brokers
July 6, 2015 — 12:32 AM EDT
China’s emergency measures to save the stock market risk creating another victim: the nation’s brokers .
Securities firms will suffer the most from steps unveiled at the weekend, according to Bank of America Corp.’s head of China equity strategy David Cui. Doing their “national service” by purchasing shares to support the market may hit brokers’ earnings and balance sheets, Cui said in a note Monday.
Interference by policy makers may put the industry’s business model into question even as it lends short-term support to brokers’ shares in the mainland, China International Capital Corp. said
WC: This perhaps is the shake up that is needed to move things along
MY LADIES: AND YES IN THE NEW SYSTEM IT IS ALL BASEL COMPLIANT
Dale: Mary, I don’t see how asset backed currencies can coexist with fiat…yet PIF suggests that they can…that is my only contention with his comments
MY LADIES: AND THEY WILL FOR A SHORT TIME AT LEAST...REMEBER THE DOLLAR WILL BE THE LAST TO CORRECT..I THINK HIS POINT WAS THE DOLLAR IS NOT GOING TO CRASH AND BURN OR GO ANYWHERE
Dale: that makes sense…a transition period will occur
Socksmom: Dale: Do you remember when Silver Certificates were circulating at the same time as Federal Reserve Notes?
WC: I noticed people talking about Iran and the deal....which will not happen as Kerry will not be able to use it to back his desires to be president! It is amazing how people just try and do anything to win, they don't serve to serve any more. It once was noble, now it seems to be a scheme.
MY LADIES: HUMMMM WELL THE DEAL IS PRETTY MUCH DONE..HAS BEEN WAITIBG TO ANNOUNCE FOR THE LAST YEAR IN HALF….IRAN IS A VERY BIG PIECE OF THIS PUZZLE
WC:If all this as everyone thinks, nothing has ever gone smoothly when money is concerned!
MY LADIES: I AGREE... BUT THE USA NEEDS THIS BEFORE IRAN FOLLOWS IN RUSSIA FOOTSTEPS AND SAYS KICK ROCKS AND DEVELOPS YET ANOTHER SETTLEMENT SYSTEM ON THEIR OWNI'M WATCHING THE MARKETS... I'M ABOUT TO CLOSE MY EYES FOR A BIT...EUROZONE COMES ONLINE IN 2 HOURS
World’s Biggest Currency Trader Favors Selling Euro Versus Yen
Citigroup Inc., the world’s biggest currency trader, said it prefers to bet the euro will decline against the yen, rather than against the dollar, as traders seek haven assets amid the turmoil in Greece and China.
The yen has strengthened 3.6 percent versus the euro in the past month, outpacing all its major peers. Japan’s currency advanced to the strongest in six week against the euro on Monday after Greek voters rejected austerity measures and China’s stock market rout spurred demand for safer assets.
“There are better places to play your shorts than euro dollar,” Todd Elmer, a Singapore-based strategist at Citigroup said in an interview on Monday. The yen “is well positioned on the domestic front,” he said.
The euro declined 1.3 percent to 134.62 yen as of 6:15 a.m. in Tokyo after declining to 133.70, the weakest level since May 26. The 19-nation currency dropped 0.9 percent to $1.1017 per dollar after sliding as much as 1.3 percent.
MY LADIES: GOOD MORNING>>>AND HERE IS A DAY IN THE FINANCIAL WORLD
George Osborne to make Commons statement on Greece
UK chancellor George Osborne is set to make a statement about Greece in the Commons at around 3.30 today. Earlier Osborne met prime minister David Cameron and Bank of England governor Mark Carney to discuss the crisis:
Spain’s economy minister Luis de Guindos has echoed that Greece should remain part of the eurozone and the euro is irreversible .
He said the Spanish government was open to negotiating a third bailout, and any new Greek package should include a comprehensive analysis of Greek needs.
The Eurogroup - which as we said earlier is to meet on Tuesday - has said it expects new proposals from Greece. In a statement it said
The Eurogroup will discuss the situation following the referendum in Greece that was held on 5 July 2015. Ministers expect new proposals from the Greek authorities.
The referendum was held after the Greek government unilaterally withdrew from ongoing negotiations with the institutions (the European Commission, the European Central Bank and the International Monetary Fund) on Greece’s comprehensive reform plan, foreseen under the agreement of February 2015
Greece likely to be on BRICS summit agenda
There has been no official reaction from the Kremlin yet about the Greek vote, writes Shaun Walker, but Russia has been watching the drama unfold between Athens and Brussels with some interest, and Greek prime minister Alexis Tsipras has made two visits to Moscow in recent months to make the point that Greece could seek alternative creditors. He has left with little in the way of concrete commitments, however.
A summit of the BRICS group of nations (Brazil, Russia, India, China, South Africa) will be held in the Russian city of Ufa later this week and Greece is likely to be on the agenda. Various ideas have been floated in recent weeks, including making Greece a member of the club, which would give it access to loans from the newly founded BRICS development bank.
However, while Moscow might be keen on the idea for political reasons, Russia is also still in a difficult financial situation, and the other BRICS members may well be less keen.
MY LADIES: A STROLL THROUGH EUROPE THIS MORNING
Euro zone shares fall nearly 2 pct after Greek 'no
Top euro zone shares fell 1.7 percent in early trading on Monday after Greek voters rejected austerity measures demanded in return of a debt deal, raising concerns about the country's possible exit from the euro zone.
Banks were the worst hit, with the Euro STOXX banks index down 2.3 percent. Italian banks including Unicredit were down 3 to 4 percent while Portugal's Banco Comercial Portugues fell 3 percent.
J.P.Morgan economists reckon the outcome of Sunday's referendum will probably hasten Greece's exit from the euro.
Monday's fall was not as strong as some had expected, however, considering markets had been betting on a rapid resolution going into the weekend.
"Markets have yet to be convinced in full either that the (Greek) exit door will be open or that the extent of any contagion from this could be irreparably damaging to the system," said Neil Williams, chief economist at Hermes Investment Management. (Reporting by Atul Prakash and Alistair Smout; Editing by Lionel Laurent)
MY LADIES: THE MARKETS MAY JUST BE INCORRECT THIS TIME
European Factors to Watch-Shares seen sharply down after Greeks say "No
Reuters) - European shares headed for a sharp drop on Monday after Greeks rejected austerity measures demanded in return of a debt deal, raising concerns about the country's exit from the euro zone.
At 0629 GMT, futures for the Euro STOXX 50, Germany's DAX and France's CAC were 1.9 to 2.3 percent lower. Britain's FTSE futures fell 0.8 percent.
"After surprising the market by calling a referendum, the Greek people once again surprised the market by voting 'No'. This puts the Greek government on a collision course with the creditors and the risk of a Grexit has certainly increased," Philippe Gijsels, head of research at BNP Paribas Fortis Global Markets in Brussels, said.
Stunned European leaders called a summit for Tuesday to discuss their next move after the surprisingly strong victory by the 'No' camp defied opinion polls that had predicted a tight contest. German Chancellor Angela Merkel's deputy said Athens had wrecked any hope of compromise with its euro zone partners by overwhelmingly rejecting further austerity.
MY LADIES: AT THIS POINT I’M NOT SURE WHAT TALKING WILL DO.
TOO LITTLE TOO LATE
Merkel to Meet Hollande as Greece Told to Make Next Move
European officials are putting the onus on the Greek government to make the next move as Chancellor Angela Merkel heads to Paris Monday for talks with President Francois Hollande to map out a way forward for Greece.
With an emergency summit of European leaders called for Tuesday, fellow euro-region governments are preparing to wait for Greece to offer proposals that enable the country to stay in the 19-nation euro zone, according to a European government official with knowledge of the crisis strategy.
MY LADIES: THE WHEELS ON THE BUS…
Greek Vote Becoming Much Ado About Nothing Special for Euro
The Greek vote is turning out to be much ado about nothing for the euro.
While Europe’s currency slid, it only reached a one-week low. Price moves have been “muted,” according to Standard Chartered Plc. Investors expected a bigger decline, said Mizuho Bank Ltd. in Tokyo. The vote won’t have a long-term impact on financial markets, according to SMBC Nikko Securities Inc.
“The market reaction so far has been remarkably muted,” said Callum Henderson, the global head of foreign-exchange research at Standard Chartered in Singapore. “Most people are standing aside and waiting to see how the European authorities will respond.
MY LADIES: TODAY AND TOMORROW WILL MAKE SOME DIFFERENCE AFTER THE EU MEETING