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Sovereign Risk Back With Vengeance As Italy CDS Hits New Record At 250 bps
MarkIt reports Italian CDS has exploded by 50bps, from 200 on Monday to 250bps, a new record. The weakness is spreading globally now. A slightly delayed CMA report indicates that the biggest CDS movers are all sovereigns, and led by Korea and other Asian names. In the meantime eurodollar futures are pushing ever higher, even as Libor is still testing the temporary breaks at 0.53%. All fine and dandy, until you look at Euribor, where things are getting surreal. We will discuss this shortly.
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The smell of slime mold is hitting me.
http://tinyurl.com/32a77yq
--Nothing to see here, go about buying solar stocks--
250 is cheap folks. Load up and you'll be able to make a killing within the month selling your entire holdings to UniCredit.
haha! whoever's hockeysticking the crosses have some super amazing sauce!