Rhinebridge Plc, a structured investment vehicle run by IKB Deutsche Industriebank AG, said it may not be able to pay back debt related to $23 billion in commercial paper programs. Rhinebridge suffered a ``mandatory acceleration event'' after IKB's asset management arm determined the SIV may be unable to repay debt coming due, the Dublin-based fund said in a Regulatory News Service release. A mandatory acceleration event means all of the SIV's debt is now due, according to the company's prospectus.
ES down 6 points ! Oil at 90. Asia retreats. The yields on short term treasuries have been shrinking all week, while commercial paper rates climb. The spread between three month t-bills and Libor keeps getting wider. While overall commercial paper issuances grew, asset backed commercial paper issuance shrank for a 10th straight week. Implied volatility is down from its highs, but sits right about where it was at the end of July.
I know it doesn't look promising, but I would like to see a bounce. Looks like ES is being held, long live PPT!
also watch Euro today. Could be a possible short setting up soon, failure on new high on 60m. ZB went cracy like I thought it would. Dax will be easy to trade today since VOLA cicks in again. Philipp
Looks like it's turning out to be a headfake p/a after all big grin ))) I see good divergence on 3 btw