Friday, 22 May 2009

EUR/USD and SPX correlation

The Raven is looking for reasons for a breakdown in this correlation, more on that later.

Interesting to see the UK moved to watch negative for its government debt rating yesterday and speculation that it could lose its AAA status as debt/GDP approaches 100%, this has triggered speculationt that the US would lose its AAA status at some undefined point in the future (big effing deal - of course one day the US will lose that status, but if thats in 1000 or 200yrs makes little difference to us today).
what a surprise, Geitner and the muppet show couldn't value or trade against a tiny bank even though they have the ability to retroactively change the law.

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