Plastic
18th August 2011, 10:25 PM
I don't think this has been posted yet...
From ZH
If yesterday's news broken by ZH (http://www.zerohedge.com/news/behind-scenes-liquidity-scramble-europe-one-bank-borrows-500mm-emergency-cash-ecb)that one bank was in dire need of US dollars and ended up borrowing $500 million from the ECB was enough to send the market down almost 5% today, then the follow up news that the FRBNY just reactivated FX swap lines with Europe will likely send ES limit down at tomorrow's open.
http://www.zerohedge.com/news/cue-panic-fed-resumes-liquidity-swap-lines-lends-200-million-swiss-national-bank-most-october-2
From ZH
If yesterday's news broken by ZH (http://www.zerohedge.com/news/behind-scenes-liquidity-scramble-europe-one-bank-borrows-500mm-emergency-cash-ecb)that one bank was in dire need of US dollars and ended up borrowing $500 million from the ECB was enough to send the market down almost 5% today, then the follow up news that the FRBNY just reactivated FX swap lines with Europe will likely send ES limit down at tomorrow's open.
http://www.zerohedge.com/news/cue-panic-fed-resumes-liquidity-swap-lines-lends-200-million-swiss-national-bank-most-october-2