Europe's Core Is Burning, As Austria Next On The Implosion Radar; German, France CDS Blow Out

Austria, the country most exposed to weakness in Central and Eastern Europe, is back on the radar. After having avoided skeptical investor scrutiny even as the bulk of Europe was collapsing all around it, the country is today's top CDS widener, yet still stunningly trades inside of France and Belgium. Look for this spread to blow out over the next week. Then again, the biggest CDS wideners are precisely the countries formerly seen safe: Austria, France, Germany and Belgium are all the top movers in CDS. So much for the whole North vs South division in Europe.

Comments

[Trichy]

Austria still lower than France! Wait until all the eastern corporates default on their eur denominated bonds held by Austria

[jkruffin]

I can't wait until JP Morgan Chase is ruined by all the derivatives these crooks hold.  These types of companies need to be dismantled.  They are on the chopping block and I hope sooner than later they get crushed and Dimon goes to jail.

[StefanC]

It must be a tough call following markets from US these days... Europe stole the party. Parity here we come.

Cheers to ZH

[jkruffin]

Hungary talking flat out default,  WOW

[SteveNYC]

Now we can reap what our governments and central banks have sewn via their moral hazard encouraging behaiours. These fuckin clowns imposing no discipline, a free-for-all theft-fest year after year, then bailouts when they all go down.

Of course, they have ensured the end of the system as we know it.

[John McCloy]

They want their Euro QE.

[luigi]

If the EUR comes to parity with the USD it only will mean we are both in the same coffin: wonder who will be the ones to nail it shut...

[snowball777]

bái mù!

[MrTrader]

Europe's core is burning. Ha, ha, ha, ha. The only thing that is burning are CDS shorts which will be destroyed in a short squeeze.

[Chris1]

€1 worth $0.8 is not that long ago. Makes me wonder about all this excitement about the 'weak' Euro in the media. Probably has something to do with the fact that people rather think in derivations than in absolute numbers.

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