Due to popular demand, Zero Hedge is happy to bring back the weekly DTCC CDS gross/net open interest recap. The primary reason we dropped coverage of CDS data over the past month was/is our belief that both fundamental and technical analysis, in the face of a rapturous market is pointless, and the only thing that matters is the ticking sovereign debt timebomb, as indicated by various Federal Reserve disclosures such as the H.4.1, H.3, and Z.1. If you don't believe me, please call any fundamental analyst at either a sell or a buy side firm at 4:00:01 pm. Nine out of ten times you will get voicemail (which, all else equal, is better than a vibrating dildo). Nonetheless, for the sake of completeness, it is useful to see what this formerly very useful data point from the world of CDS indicates: so here is what the latest out of 55 Water street says.