My first X-mas card arrived … Have a look … markets seem to be helpless … look at the bonds … AUTSCH!!! Take care Oli

As volume dries out after recent swings and market action … and Q3 end means, that LESS market participants really trade … Rumour mill at its best … Today … apart from the hourly “new input” from the bailout package … We had the following rumours doing the rounds … – HSBC will buy UBS [...]

UBS said today morning, that they need no fresh capital … and this was seen positive Sometimes I can’t believe it … Remember … the UBS capital increase was only weeks old Then Goldman put out a study on European Banks … telling (at least part of) the truth. They need more MONEY … up [...]

No, I’m not talking about RECORD falls in house prices … Yesterday, S&P downgraded a huge bunch of so called Alt-A MORTGAGE- backed securities … NEW YORK (Standard & Poor’s) May 28, 2008–Standard & Poor’s Ratings Services today lowered its ratings on 1,326 classes of U.S. residential mortgage-backed securities (RMBS) certificates issued in the first [...]

Let’s see, whether we face our “usual bump” during the last tradingdays of the month and the first trading days of the new month It will be interesting, whether they, the PPT, make it bounce once more … Fundamental news … ALL NEGATIVE!!! -Consumer confidence … PLUNGING … 16-year-low -Inflation pressure rising … despite Oil [...]

Not only me After technical targets were reached, selling set in … WHO? YES The ones who “know” … PPT was rumoured to sell the rally, using demand from underinvested HF’s … Funny … but true … Now they hide it behind the Goldman OIL story and the UBS statement, that MONOLINE WRITE OFFS MIGHT [...]

Or … in other words … much money … no brain The facts … of today only … -UBS … dissappointing figures … even after very weak expectations … says … MORE WRITE OFFS … sees MONOLINE induced ones … AUTSCH -FNM … worse than expected … but positive talk despite their view, housing market [...]

Markets jumped out of the gates … Q2 … and more important … a new Japanese financial year … A weak Tankan report gave the security of low rates … So carry trades were put on … Yen lost more than 2% today … and equities were the winners … Trigger … bad UBS numbers [...]