För de intresserade av detaljer har Usa passerat sitt debt ceiling. Thetrader skrev om detta i slutet av förra veckan, men som sagt, media lär inte rapportera om det förrän om några dagar. Följ länken till “källan”,

http://www.treasurydirect.gov/govt/charts/charts_debt.htm

DALLAS, April 18, 2011 /PRNewswire/ — Texas Instruments Incorporated (TI) (NYSE:TXN - News) today announced first-quarter revenue of $3.39 billion, net income of $666 million and earnings per share of 55 cents.

“2011 started strong, with customer demand in January and February tracking our expectations for a first quarter of above-seasonal growth,” said Rich Templeton, TI chairman, president and chief executive officer.  “But the Japan earthquake that’s taken such a heartbreaking human toll in the country also disrupted local demand starting in mid-March and impaired operations at two of our factories there.  This impact and substantially weaker demand for Wireless baseband chips resulted in revenue that was below the middle of our expected range.  The lower revenue combined with expenses resulting from the earthquake affected earnings per share.  New orders, however, were strong through the quarter, indicative of the underlying strength in our markets. (Yahoo Finance)

Story goes on. Spx vol säljs hårt av den kära centralbanken, allt i syfte att lugna ner marknaden. SPX 2 punkter högre än vid öppningen, och Vix index ner 10% från öppningen….Någon vill inte ha ner detta, så taktiken att “flood” marknaden med vol är intakt. Detta kommer pågå, tills det en dag slutar abrupt.

Apple upp knappt en procent i skrivande stund. Folk måste läsa nyheterna om Grekland, S&P cuts etc på sina nya Ipads. Day charten på Apple ser efter den senaste nedgången ok ut. Bra stödnivåer som verkar hålla, för stunden. Den tidigare “stealth” trenden är borta, men aktien har stöd kring 325/330 nivån. Nedan day och intraday charts.

“Timothy Geithner says borrowing more from China to finance tax cuts for the most affluent Americans would be irresponsible.

The Treasury secretary has it backward. The real question is whether Beijing is willing to double down on a nation whose balance sheet makes Italy look good. Holding $1.2 trillion of U.S. debt is a fast-growing risk to China.” (Bloomberg)

http://www.bloomberg.com/news/2011-04-17/america-s-banker-may-tell-geithner-to-go-away-commentary-by-william-pesek.html

Ett bekant tema vi skrivit om ett tag, är ju Pimcos “nya” korta position i amerikanska statspapper. Timingen är snygg, om än lite “märklig”.

“S&P reaffirmed this morning the AAA rating of the US but, importantly, slapped a “negative outlook” on the rating due to concerns on how the country will address its “very large budget deficits and rising government indebtedness.” In justifying this dramatic move, it noted that “there is a material risk that US policymakers might not reach an agreement in how to address medium- and long-term budgetary challenges by 2013.”

This is a timely reminder of the seriousness of America’s fiscal issues, for the country and for the rest of the world.

The continued failure to come up with a credible medium-term fiscal reform program would increase borrowing costs for all segments of US society, thereby undermining investment, employment and growth. It would also curtail foreigners’ appetite to add to their already substantial holdings of US assets. And it would weaken the dollar.

The US also risks eroding its standing at the core of the global monetary system.

The world looks to America for a range of “global public goods” — including the reserve currency, the deepest and most liquid government debt markets, and the “risk free” standard. With no other country able and willing to step into this role, the result would be global efficiency loses and a higher risk of economic and financial fragmentation.

S&P’s warning should be heard loud and clear in Washington DC, hopefully acting as a catalyst for faster convergence on a credible medium-term fiscal package. It is also a reminder of risk to the global economy, as well as the generalized deterioration in the sovereign credit quality of several advanced economies.

The time has come for the US (and other advanced economies) to take better control of its fiscal destiny—for the sake of American society and for the well being of the global economy.” (FT)

Under förmiddagen skrev vi om den grekiska och portugisiska 5 åringen. Då kurvan är exponentiell, så är den grekiska 5 åringen snart 20%, men allt är OK, Grekland behöver ingen bail out.

Världen är bizarr, men CNBC påstår att S&Ps nedgradering är bra på lång sikt. Nu tvingas Usa skuldsanera. Såpoperan har börjat, enjoy.

Gammal chart som nu åter är högaktuell. Kretsloppet fortsätter, men dagens nedgradering av Usa, är en “gamechanger”. Vi ser fram emot diskussionerna kring debt ceiling höjningen nu. Idag får folk plötsligt upp ögonen för den absoluta största elefanten i rummet, och detta kan få stora implikationer för framtiden.