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Portuguese Bond Yields, Greek CDS Both At All Time Wides

Tyler Durden's picture





 

Not sure what rumor can be spread to unspook the market into believing all is well here, but the widely expected March deterioration in Europe which nobody wants to talk about, is happening just as predicted: Greek CDS have just hit an all time wide of 1,036 bps or something like 17 pts up, while Portuguese bond yields have just passed into fresh lifetime highs of 7.65%. As per the Chairsatan, this is purely driven by inverse demand courtesy of surging global economies around the world, which are all experiencing inverse peace and prosperity.

The chart is delayed. Just take our word for it.

 


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Mon, 03/07/2011 - 11:27 | Link to Comment silvertrain
silvertrain's picture

No worries both have passed there stress tests...

Mon, 03/07/2011 - 11:27 | Link to Comment Tulli
Tulli's picture

Not a matter of if, rather of when this country (Portugal) will be drinking the kool aid.

 

Mon, 03/07/2011 - 11:31 | Link to Comment LongSoupLine
LongSoupLine's picture

Quick!  Call China!

Mon, 03/07/2011 - 11:33 | Link to Comment SheepDog-One
SheepDog-One's picture

No biggie, they have Ouzo.

Mon, 03/07/2011 - 11:34 | Link to Comment Oh regional Indian
Oh regional Indian's picture

Greece and Portugal are huge red herrings for Spain.

Espania is on the fault line. Can only imagine how much sheeple raping is going on there while collapse is kicked down-road.

Banco Santander has the capacity of taking the collapse global due to it's webs in Brazil and South America in general. 

ORI

http://aadivaahan.wordpress.com/2011/03/04/astrological-and-other-deep-insights-from-ca/

Mon, 03/07/2011 - 13:02 | Link to Comment Reptil
Reptil's picture

Santander=HUGE

CEO Santander is a convicted criminal, he's not even allowed by spanish law to have anything to do with banking. That doesn't make other CEOs look better IMHO, just that it makes the spanish judiciairy look like a functioning court (one of the few) and interpol like a bunch of monkeys.

http://www.reuters.com/article/2011/01/17/santander-ceo-idUSLDE70G1A7201...

Mon, 03/07/2011 - 11:36 | Link to Comment Dr. Richard Head
Dr. Richard Head's picture

PIIGS meet MENA; MENA meet PIIGS.

Weeeee!!!!!!!!!!!!!!!!!!!!!!!

Everything is OK now.  Those Europeans should start buying stocks and iPads right away and all will be well.

Mon, 03/07/2011 - 11:52 | Link to Comment The Axe
The Axe's picture

when I is the euro over 1.40.....please hit me in the head...

Mon, 03/07/2011 - 12:17 | Link to Comment Double down
Double down's picture

Boink!

Mon, 03/07/2011 - 11:54 | Link to Comment gwar5
gwar5's picture

Double whammy. Libyan oil dependency is high in parts of Southern Europe.

Mon, 03/07/2011 - 12:06 | Link to Comment buzzsaw99
buzzsaw99's picture

Don't worry about the bankster-bondholders, "Hot Tits" Merkel will bail them out.

Mon, 03/07/2011 - 12:16 | Link to Comment 99er
Mon, 03/07/2011 - 12:18 | Link to Comment buzzsaw99
buzzsaw99's picture

China counterfeiting silver coins:

 

http://www.komonews.com/news/local/115789384.html

Mon, 03/07/2011 - 12:34 | Link to Comment gwar5
gwar5's picture

Ratings agencies and banks are gaming the Euro scene to boost the dollar back up relative to the USD.

Mon, 03/07/2011 - 13:26 | Link to Comment Xkwisetly Paneful
Xkwisetly Paneful's picture

how long are the Germans going to back the EU as the only  viable euro economy?

Damn greedy bastard banker/corp pigs-oh right that hardly the problem as much as human stunting communism called eurosocialism which has seen Europe the once bastion of human innovation reduced to a cesspool of entitlements and government. Where some ridiculously low number actually work to support the rest,  kind of like the US of Neo Marxism but keep denying it and pointing fingers at class warfare and the other asst self loathing bullshit nonsense that has become the calling card of zerofringe.

Mon, 03/07/2011 - 13:38 | Link to Comment M4570D0N
M4570D0N's picture

Anyone have a link to an updated CDS chart? I dont seem to be able to find one that include's today's movement.

Mon, 03/07/2011 - 14:07 | Link to Comment oogs66
oogs66's picture

Its amazing that no one seems to care even though its becoming more and more obvious that austerity isn't working.  Only alternative is for printing presses to print new money to buy old bonds or just give up and restructure and start from scratch and promise 'this time will be different'.

Mon, 03/07/2011 - 15:54 | Link to Comment ivars
ivars's picture

In the USA, this means real austerity is actually approaching faster than wished by spend more crowd (before the USA treasury bond rate hits 7%-10%, hopefully) , if not on federal than on state and individual level ( with oil prices helping to realize the shitty situation with spending as spending just goes to oil producers )  and such austerity means stopping growth in the USA while keeping dollar afloat: hence this scenario:

http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626

Stocks down in nominal terms, oil up, dollar strong enough still.These graphs were made on Ferbuary 6th, they are holding well.

The USA can not escape EARLY austerity as otherwise 7-10% will be the interest paid by the USA on its 14 trillion debt, or about 1 trillion / year. Great numbers, but impractical for running a country.

 

Mon, 03/07/2011 - 16:37 | Link to Comment shortus cynicus
shortus cynicus's picture

I see nothing unusual.

Mon, 03/07/2011 - 18:25 | Link to Comment rd
rd's picture

It's not just Santander that has the potential to (re)trigger a global banking crisis. BBVA with it huge presence in Latam (namely Mexico) is also a strong "contender".

Mon, 03/07/2011 - 20:08 | Link to Comment Buck Johnson
Buck Johnson's picture

Eventually Germany is going to say F this and go back to their currency.  The only country really holding it together is Germany.

Mon, 03/07/2011 - 20:32 | Link to Comment lsjcma
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Thu, 07/14/2011 - 06:36 | Link to Comment rockingsteve
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