European Bond Risk Spikes Most Since 2011 As "Graccident" Looms

Despite the constant blather of how cheap European stocks are (they are not) and how Draghi's QE will create something positive (priced in?), the last 2 days have seen Italian, Spanish, and Portuguese bond risk explode higher. The 20%-plus surge in bond spreads is the biggest since the beginning of the EU crisis in 2011 as Grexit fears (and redenonimation risks) continue to spread.

Italy is the worst performer...

But Spain and Portugal are starting to blow..

Just don't show Mario Draghi.

Charts: Bloomberg

Comments

[JustObserving]

European Bond Risk Spikes Most Since 2011

Anyone rational would want to own Southern European bonds after Greek debt has been written down by 95%?

Portugal, Spain and Italy are just months from being the new Greece. Ireland cannot be far behind.  

[Bell's 2 hearted]

Looking forward to another ISDA clown show

ISDA the outfit that decides whether CDS are triggered.

Earlier, with greece,  many bondholders were deemed to have taken haircuts "voluntarily" ... and cds not triggered

[LawsofPhysics]

yes, LOL!!!  The criminals are in charge and have been committing brazen fraud for quite some time.  Please, none of them are going to indict themselves...

[Harbanger]

Now that their system is failing you can expect them to blame anything but themselves.  capitalism, the rich, Putin etc.

[Headbanger]

Let it go Icelandic!

https://www.youtube.com/watch?v=H0KZ0u7iC3k

[KnuckleDragger-X]

I've been to Iceland so you can go ahead and I'll wait right here.... :-))

[Philo Beddoe]

Who the fuck goes to Iceland?  I need details. 

[Headbanger]

Are you kidding!?

I never got laid so much than in Reykjavík!

Of course that's when dinosaurs flew me there and women didn't hate men.

[new game]

lol

[KnuckleDragger-X]

The military has been using Iceland since WW2 and I merely went TDY there for a month for apparently no particular reason.....

[no more banksters]

Greece forms a Commission to audit public debt

[iofera]

On behalf of the entire (anti-Semitic) Zero Hedge community, I'd like to extend my warmest congratulations to Benjamin Netanyahu for his impressive victory!!

[Winston Churchill]

At least it solves one problem.We now know Nuttuyahoo isn't just an exscaped maniac

pretending to represent Israel.He truly does, and we know Israel is the mental institution.

[Harbanger]

Diebold

[Tsar Pointless]

Graccident? I'm waiting for it to happen.

[astatus]

THE ONLY ACCIDENT IT WILL HAPPEN SEEMS ITS PLANTED. BY THINKING

ALL THESE PROBLEMS IN THE WORLD THEY PRETEND THEY CARE....AND NOTFIXING.ALL ARE EXCUSES And DECEPTIONS.SO MUCH UNJUSTICE..... THEY BUY GOLD LIKE CRAZY..ISIS JUST CAME SUDDENLY LIKE SCARE CROW. ..WHOLE WORLD IS BANKRUPT LONG TIME MANY TIMES OVER...UKRAINE PROBLEM...GREEK PROBLEM...PALESTINIAN PROBLEM ALL PLANTED AND THEY DONT WANT TO FIX! AFEW PEOPLE GRAB ALMOST ALL MONEY IN THE WORLD, AND THEY CUT CUT AND STARVING ALL THE WORLD.SO THEY THINK ONLY CURE IS NUKE AND KILL FEW MILLION PEOPLE, ERASE MANY OF THE SMALL COUNTRIES AND GRAB THEIR LAND FROM SUPER POWERS....AND FORCE THE NEW WORLD ORDER, AND NEW RELIGION.

[dearth vader]

OT - revolving doors // Breaking News

http://www.telegraaf.nl/dft/nieuws_dft/23817357/__Neelie_Kroes_adviseur_...

2 snippets - google translated:

Former Commissioner and VVD prominent Neelie Kroes has received approval from the European Commission to act as a special advisor to the US investment bank Bank of America Merrill Lynch (BofA).

As special advisor to the US investment bank may Kroes to eighteen months after resigning as Commissioner not perform lobbying for BofA to the European Commission. But then the European lobby circuit is also open for Kroes haunt.

[Philo Beddoe]

One hour to go! Come on Grandma gottah eat me some pie. 

[debtor of last ...]

Bonds price goes down; isn't the ECB looking for sellers?