rather than pick out individual stocks to trade, it can often be worthwhile to trade the indices themselves, especially in times of high volatility.

for those so inclined, i attach below charts for FTSE and FTSE 250, though one might equally be tempted to trade Dow or S&P, which is significantly broader in its coverage, or even NASDAQ

for ease of reading, i have attached 1 year and 3 month charts in each instance

UK Index-Linked Gilt Sale Draws Strong Demand

By Nick Cawley The U.K. attracted strong demand at a sale of index-linked gilts Thursday, despite pricing with a negative real yield. The Debt Management Office said the 900-million-pound ($1.37 billion) auction of the 0.125% 2044 index-linked gilt attracted a bid-to-cover ratio, a gauge of demand, of 2.02. The gilts were sold at a real striking price of GBP104.93, for a real yield of -0.033%. Index-linked gilts are bonds that have their prices and coupons adjusted in line with retail price inflation.

Absolutely, but the russians won't (imo) allow a default without some kind of concession from the cypriots. So what has Cyprus got that the russians want? Mineral rights or a strategic foothold in the Med/Eurozone, or just a thorn in the side of Nato?

Looks to me like there won't be much propping up over inflated indicies for long....

Also the Cyprus cash for gas is a fast as per posts above, nothing yet proven and not even close to any sort of production, don't see how you could sell bonds in something that is yet to exist..

they could sell them "on a promise to pay", rather like pound notes!

Exclusive - Euro zone call notes reveal extent of alarm over Cyprus

BRUSSELS | Thu Mar 21, 2013 10:56am GMT
(Reuters) - Euro zone finance officials acknowledged being "in a mess" over Cyprus during a conference call on Wednesday and discussed imposing capital controls to insulate the region from a possible collapse of the Cypriot economy.

In detailed notes of the call seen by Reuters, one official described emotions as running "very high", making it difficult to come up with rational solutions, and referred to "open talk in regards of (Cyprus) leaving the euro zone".

The call was among members of the Eurogroup Working Group, which consists of deputy finance ministers or senior treasury officials from the 17 euro zone countries as well as representatives from the European Central Bank and the European Commission. The group is chaired by Austria's Thomas Wieser.

I think it might be too easy to assume that Russia wants something tangible or material from a Cyprus deal.

As I said umpteen posts ago, Cyprus is a geographical crossroads for both eastern and western Europe and the Middle East. A lot of businesses choose to base themselves there because it gives them access to markets in which they wouldn't otherwise be able to gain a foothold. These firms very often get their business by using smoke and mirrors to gain a hint of respectability.

If you wanted to trade Forex or binary options, for instance, would you feel comfortable wiring your funds to a firm with a Moscow address? Or a Tel Aviv address? Or a Lebanese address? I'm guessing that many westerners would probably shy away from doing so. Many people, however, will happily send their funds to a Cypriot firm that's CySEC regulated and MiFID compliant because it's got the supposed backing and security of the EU.

Now what if I said that one of the biggest, most well known Forex brokers (they're well known because they provide sponsorship to a Premier League football club) operates out of Cyprus but is owned by Russians?

Do you see where I'm coming from?

How well known?

Two Premier League Football clubs, both crap though!!

CAD Core Retail Sales m/m 0.5% consensus 0.4% previous -0.9%

CAD Retail Sales m/m 1.0% consensus 0.6% previous -2.1%

USD Unemployment Claims 336K consensus 343K previous 332K

Cyprus Proposes Solidarity Fund for Rescue Plan

By Nektaria Stamouli and Stelios Bouras Cyprus is seeking to help finance its international bailout by pooling assets from its pension system and state real estate property together in a fund as talks with Russia on aid continue, senior government officials said Thursday. After a political leaders' meeting Thursday, the deputy leader of the ruling Democratic Rally party, Averof Neophytou, said there is a unanimous proposal to create a "solidarity fund" which is being assessed by legal experts. "There is one goal, the saving of the country, shielding it from exisiting risks at the foundations of the government," he told reporters. Senior government officials said the proposal involves the nationalization of pension funds, while the fund would also take over real estate assets from the state and the Church of Cyprus. In turn, the fund would issue non-redeeming bonds, the government sources added. Mr. Neophytou said that if the proposal needs to be passed by lawmakers, it will be submitted to parliament later in the day. European Party chief Demetris Syllouris said this proposal doesn't include a bank deposit levy. He also said the fund may take the form of a company and could attract strong foreign investor interest, allowing Cyprus to raise more than the 5.8 billion euros ($7.58 billion) demanded by international creditors in exchange for unlocking a EUR10 billion aid package. Cyprus' options to secure a multi-billion-euro bailout are narrowing after the country's parliament rejected a euro-zone plan that would have involved a controversial bank deposit tax. International lenders then Wednesday rejected the government's alternative plan to use pension fund assets to buy government bonds. The lenders feared such a proposal would inflate Cyprus' debt burden. As a means of finding a solution to the Mediterranean island's financial crisis, Cypriot and Russian officials have been discussing a wide range of options involving the potential sale of natural gas and banking assets, Cyprus' Finance Minister Michalis Sarris said Thursday. Mr. Sarris has been in Moscow since Wednesday discussing gas-for-cash deals; restructuring a EUR2.5 billion loan; or a discount sale of Cypriot banking assets. "There is not much time left," said Mr. Sarris in comments to Cyprus state television RIK. "There must be, at least, an expression of interest (from Russia)."

So the russkis are threatening to sell their euro holdings if the EU doesn't do a deal to bail out Cyprus, will the EU surrender monkies capitulate..... better ask monsieur Hollande.

It looks like the ESURE applications have been scaled back - unfortunately to an amount that is hardly worth the bother. (40% @£2.90)

am very glad to be short dow ..... at least that has subsidised the whack i just crystalised on C+M Index (serves me right!)

German Ifo Business Climate 106.7 consensus 107.8 previous 107.4

MARKET TALK: Cyprus Gives Boost to Risk Assets Amid Greek Deal

7:30 EDT - US stock-index futures and the euro have jumped to session highs amid an apparent deal to transfer ownership of the Greek units of Cypriot banks, movement in steadying the country's ailing financial system and giving some relief for the moment to investors globally that a full-blown meltdown in Cyprus won't happen. The devil, of course, is in the details--nevermind the plan ultimately working. But results often hasn't mattered throughout the euro-zone crisis. Merely looking as if action is being taken has been enough much of the time. S&P 500 futures are now up 4 as the euro climbs to $1.2960. Oil futures rise 0.5% and gold is modestly lower as Treasurys are flat; the 10-year yield is at 1.92%.

How true - if not grammatically correct

"But results often hasn't mattered throughout the euro-zone crisis"

It was a cut and paste off DOW Newswires so posted on the fly I suspect. Cyprus I think would be ideal to test the water letting a EU country fail, it'd also help achieve a weaker EUR on the wake of German, French manufacturing data. There will be a run on Cypriot banks regardless of what happens I think as depositors will now want to withdraw their cash as trust in the banks and political system fails...

There's no other econmic news due today as far as I can see, so guess we will just drift until there is an announcement.