Sensex

Thursday, November 26, 2009

Re: [Technical-Investor] Dubai Default

 


Empire State Building was the Tallest Building in first half of 20th century . Construction started in mid 1920s, and completed in 1931 which is when US Entered into Deep Depression.

Chicago Sears Towers I believe was raised in early 1970s and that was when Oil Shock- US Stagflation happened.

Petronas Towers in Malaysia, inagurated in 1997 which is when Asian Crisis happened

Now Burj Dubai nearing completion in  2009, when this happens


From: BALASUBRAMANIAM SRIRAM <bees2365@yahoo.co.in>
To: Technical-Investor@yahoogroups.com
Sent: Fri, November 27, 2009 11:15:58 AM
Subject: Re: [Technical-Investor] Dubai Default

 

In Tamil, there used to be a folklore which says empires will fall after building tall or monumental structures. They used to quote the Chola dynasty for that I saw that happening in Malaysia afteR  Petronas Towers. Now in Dubai. When is China?

Sriram

B.Sriram
4B, Skylark Apts,
6,Rutlandgate Fifth St.,
Chennai-600006
Ph:+91 44 28334849(Dir) /28332373( Board)
Mobile:+91 98400 63145
Email:bhsppt@gmail. com

--- On Fri, 27/11/09, Sniper Trader <snipertrader@ gmail.com> wrote:

From: Sniper Trader <snipertrader@ gmail.com>
Subject: [Technical-Investor ] Dubai Default
To: Technical-Investor@ yahoogroups. com
Date: Friday, 27 November, 2009, 7:58 AM

 

Good Morning Working Drones -


Today's news carries a series of unexpected and surprising headlines when the Dubai Government announced that Dubai World will ask creditors for a standstill agreement to extend the maturities of all debt repayments by Dubai World and its property unit Nakheel until May next year.

Now the interesting thing here is that the bets on Dubai's default (using CDS and other wall street toys) weigh in much higher than the actual default.

What is also interesting is....the news was released on a US market holiday. 

This COULD have huge ramifications for the markets 

Equities will react....thats a no brainer...but the USD could strengthen.. .putting further pressure on global mkts including commodities.

The play book move would be what we saw when Lehman collapsed

- USD strong
- Equities Weak
- Commodities Weak

Somehow i feel, things will be slightly different this time.

I am watching the CDS mkt space for more clues..looks like Greece is next!

Cheers! 

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Posted by nsivaa at 9:58 PM

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