Sensex

Thursday, November 26, 2009

Re: [Technical-Investor] Dubai Default

 


Major worry out of this crisis is how the financial system is going to be as major european, japanese and american banks are aggressively involved in lending operations there. The effect on system is difficult to judge considering nature of islamic banking practices followed by these banks...unless someone comes out with some figures...

sri


--- On Fri, 11/27/09, BALASUBRAMANIAM SRIRAM <bees2365@yahoo.co.in> wrote:

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

 

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 10:12 PM

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