Courtesy of the new and vastly improved CNMV search engine, the reader can take a look at the communication from Deutsche Bank in which the Spanish market administrator is asked to rectify ...the short postions remitted by DB to the CNMV since June 10, which were all incorrect for not having included in the calculation... the value of all financial instruments in the portfolio. Therefore, it is asked that the CNMV remove from the public register those communications.Searching further back, it appears that the CNMV actually did just that. But the DB communication regardless details the positions initially reported - including the impressive percentages of outstanding shares involved.
The communication can be seen here. And the new CNMV news feed can be subscribed to here.
Meanwhile, departing from the base premise that bullshit walks*, the reader might consider placing a few disintegrating euros on Uruguay for Saturday's match. Currently 4:1 at William Hill.
*Of course, in real life June 10th was exactly the worst date to be getting on the short-Spain bandwagon - as the vertical red line shows on the chart of BBVA on the left. On the other hand, the communication of a non-existent 1.71% short position did provide a lovely opportunity to get off - if one were prescient enough to be inclined to do so at that time. Readers should feel free to draw their own conclusions.-------------------------------
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