It's over. After months of arguing that everything will be ok as investors flee the troubled company, it is now officialy over...
Bloomberg reports that SUNE admits $50 billion in liabilities.
Bloomberg reports:
Not a great day for David Einhorn...
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Full filing...
http://www.scribd.com/embeds/309958794/content
Moments ago the ECB finally unveiled the long-awaited details of its corporate bond buying program. Here are the details.
ECB announces details of the corporate sector purchase programme (CSPP)
Remember March and all those hopefull regional fed survey bounces? They are over! Philly Fed just printed -1.6, back into contraction for the 8th month of last 9, missing expectations of a +9.0 print. Every subcomponent weakened (aside from prices paid and received) but what saved the headline from further collapse was an unexpected surge in optimism for six-months ahead (right after the election?).
Spot the odd data point out...
The full breakdown shows everything weaker (except for prices paid)
Gold has topped $1270 this morning as faith in Draghi falters, pushing back to one-month highs but once again it is silver that is grabbing the headlines, soaring above $17.50 and pushing to 11-month highs (now up 9 of the last 11 days). The buying started in China once again as hording continues but other catalysts include solar demand, central bank fragility, and gold-silver technicals.
Gold tops $1270 - one month highs...
But Silver is soaring...
Pushing silver to 11-month highs...
Silver “Has So Much More to Give” – 5 Must See Charts
Silver has so much more to give according to Bloomberg in an interesting article replete with 5 must see silver charts.
From Bloomberg:
Silver’s bull run looks like it has legs.