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Generali CDS Surges To All Time Wide

Submitted by Tyler Durden on 07/08/2011 07:46 -0400

Bond
CDS

Three days ago, and 30 basis point tighter, we said Assecurazioni Generali "one of Italy's largest insurers, is a highly levered windsock for Italian and other PIIGS stress, and better yet, can be played in either equity or CDS" concluding that "anyone who wishes to play the developing contagion and awakening bond
vigilantism via either equity or CDS, this is without doubt the best
proxy." When we wrote that the CDS was at 177 bps. Thre days later it is at 205 bps, virtually at its all time wide, which is about to trigger the buy to cover stops, and surge to a 3-handle any second, a move which will only be catalyzed if and when Tremonti bails.

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Fri, 07/08/2011 - 07:58 | 1435475 hugovanderbubble

In Spain Generali ( has AcquireD Banca di Gottardo few year ago) = has lost 70% AUM last 18 months.

Other interesting short plays regarding Insurance in Europe

AEGON

AXA

Catalana OCcidente

MAPFRE

MUNICH RE
HANNOVER RE

Zurich Re

In US...---------> Short Plays will be: or if prefer short KIE US EQUITY

METLIFE;HARTFORD,PRUDENTIAL,AETNA,GENWORTH

Kaput

Fri, 07/08/2011 - 08:25 | 1435575 Bohemian Clubber

Why AXA??? i thought it was one of the strongest french companies...

Fri, 07/08/2011 - 07:52 | 1435487 PaperBear

Now Italy is under financial attack.

Fri, 07/08/2011 - 07:59 | 1435503 hugovanderbubble

and Spain and Belgium

Then Holland

Fri, 07/08/2011 - 08:02 | 1435514 Thomas

Assgen? Nice nomenclature.

Fri, 07/08/2011 - 08:09 | 1435530 hugovanderbubble

Fri, 07/08/2011 - 07:59 | 1435505 qussl3

No smoke without fire.

German eyes must be twitching like mad about now.

Fri, 07/08/2011 - 08:06 | 1435512 augie

I think the more likely physiological response is oral salivation. Fox in the chicken coupe, this will not end well. fortunately i keep my feathers numbered for jus' such an occasion.

http://www.youtube.com/watch?v=-LCsiWL6gn0

Fri, 07/08/2011 - 08:03 | 1435518 milanitaly

Help us!

We are too big to win a bailout

Fri, 07/08/2011 - 08:11 | 1435538 entendance

ask mr.bean-draghi
http://www.entendance.com/forums/viewtopic.php?f=7&t=789&start=30#p17554

Fri, 07/08/2011 - 08:13 | 1435541 hugovanderbubble

Milan, In your opinion how many and which italians financial institutions could fail Stress Funny Tests?

Fri, 07/08/2011 - 08:23 | 1435568 milanitaly

We always know how to pass tests: lying!

Fri, 07/08/2011 - 08:01 | 1435508 Franken_Stein

This morning London whistleblower Andrew Maguire told King World News that the launch of the new gold and silver exchange in China will destroy the remaining gold and silver shorts. Maguire stated, “The launch of this new gold and silver exchange has flown under the radar, but certainly has my attention. I firmly believe we are marking a pivotal point that will in very short order affect current precious metals price discovery dynamics. We now have an additional factor to be vended into the supply demand equation. This factor will ultimately destroy the remaining short positions in both gold and silver.”

...

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/7/6_Whi...

Fri, 07/08/2011 - 08:04 | 1435520 Franken_Stein

All the companies that were heavily traded in Goldman's Sigma X dark pool.

You can't make this stuff up.

It's like a cheap movie.

Fri, 07/08/2011 - 08:15 | 1435547 Josephine29

The situation in Italy seems to be deteriorating quite quickly now as the analysis below demonstrates.

Italy

Having just enjoyed a holiday there I can put my hand on my heart and say I have done my best to help! However the “black hole” that is the Euro zone crisis is beginning to slowly suck Italy into it as her ten-year government bond yield closed at 5.22% yesterday. This is a slow-burning influence as it has effect only when Italy issues new debt or refinances existing debt but of course Italy has a lot of exisiting debt to refinance……

http://t.co/SmA2Jxp

Lets face it as well as Italy's figures come under closer inspection is there anybody who does not expect to see manipulation of the figures?

Fri, 07/08/2011 - 08:16 | 1435553 Tense INDIAN