November 5 CDS Heatmap

Tyler Durden's picture

Mixed CDS action yesterday, with credit predominantly flat even as equities melted (molted?)-up. Discussions with fixed income traders indicate a predominantly bearish posture yet nobody is willing to stand against the Fed and the Druckmaschinen imports. Where is a man with Soros-size balls when you need him? Alas, that "man" just may end up being China, which would either buy the balance of the IMF gold package (and damn soon) or leave the indirect bid hanging.

Intraday CDS move November 5:

(reminder red is wider, blue tighter)

Soource: Citi

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Anonymous's picture

This beats the heck out of scrolling through markits data.


BobPaulson's picture

Even with minor hiccup last week, the QE seems to be keeping DX charts in very happy little channel with 50dma apparently the upper limit.

Can't see why china would take a run at it on purpose. Isn't their plan to acquire gold quietly and divert attention from the shrinking greenback? An H-bomb dropped on the Fed seems like only something Iran would try to pull (and can't).

rigger mortice's picture

any chance of a return for the daily credit summary.always enjoyed that post.Maybe I was the only one?

Lionhead's picture

Nope, I'm with ya. A daily double would be nice...