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Counterparty Risk Concerns? US Bank Credit Spreads Spike To 18-Month Highs
While well below financial crisis levels, the surge in credit risk across US financials is more than a little reminiscent of the early days of 2008 when trust and counterparty risk began to stir in the markets...
Charts: Bloomberg
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It only gets better. LOL!
Nice, live-ish commentary as a follow-along (if you don't do TV, like me)...
http://www.theguardian.com/business/live/2015/aug/24/global-stocks-sell-...
I only trust Corzine as a counterparty.
End the day at about +30bps. Over/Under anyone?
being tbtf means never having to worry about shit like that
What would the chart look like if banks marked their 'assets' to market?
BTW...+1000 to the Tylers for getting all this stuff out in rapid fashion. You gotta be working on fumes at this point.
"Check the Pitch!....Pitch is Out!"......"we're breaking up... we're breaking up!......"
Steve Austin
Markets straight up since the open. No surprise I guess.
Arrest Ben Bernanke, Alan Greenspan, Janet Yellen, Tim Geithner, John Corzine and Hank Paulson.
Paulson needs to stay out to give his speech: Tanks in the Streets 2.0
Yellen - the "counter-party bitch"!
Wonderin' which bank will be cut out of the herd.
- Ned
Comedy!
Margin Call
There isnt a hope in hell that China is going to ride to the rescue.
In fact China will do everything it can to exacerbate this now as it is firmly in its interest to do so.
Stock market crashing wont hurt Chinese corporations in the slightest. The millions of tiny investors yes, but that is what an all powerful communist party is there for.
in the other hand it will smash the financial base of the neo con half wits in Washington, the elites bent on global hegemony who have been waging financial war with China for the last decade.
This meltdown doesn't hurt the small people in the US, it smashes the corporations who have criminally used financial engineering to boost stock prices and the banks who lent them trillions to do it, and the elites.
Its the elites wealth that is being smashed in the US.
It is why QE 4 is coming next month.
Nothing else will do an a damned thing, and China is not stupid, hey know all too well whats going on and now the tide has turned and they intent to smash the global US hegemony once and for all.
Oils prices will wipe out fracking, it is under $20 a barrel from North Dakota now after transport costs. same in Canada
Russia is a Chinese ally now, thanks to the incomparable stupidity of the neo cons and Nazis starting a war in Ukraine and shooting down Malaysian airliners.
India has switched sides, It knows where its bread is buttered. The petro dollar is toast and with the new China global banks and US manufacturing not seeing a drop of capex in over ten years whilst China built state of the art factories by the tens of thousands and robotized most of them, they are well placed to dump at a profit trillions in the cheapest ever god made.
US manufacturing is all but finished.
That's already started, it takes weeks for ships to get to the west coast US but to Manila it takes a day or two.
Flat screen internet connected 43" TV's are already coming through the pirates and selling at under £100 each. 8GB or 16 GB smartphones quad and octa core at less than £35 or £40.
The idea that China is hell bent on stopping capital outflow is a lie and and a farce too. True they pay lip service, but the reality is they want the RMB to flood the world buying up assets for the Chinese.
I know because I am opening dozens of new companies in the UK at £15 a pop to stick a notice on a wall of a Box office and open a free account with HSBC, then transferring the shares to Chinese small businesses and that company invoicing them for goods to be delivered in over a year with up front payment and an option to cancel after 6 months.
Want to know how many so called Chinese officials are interested in even looking at those invoices or questioning them. Zero, none nada.
Truth is China was pissed when they got found out using a PBOC branch in Guangzhou to facilitate exactly that and had to stop after laundering billions out of China.
This is a global economic war and china is now winning hands down. And the only thing the US has is a moth eaten senile old cretinous old woman (maybe) or is it Mr yellen, and a bunch of utterly useless libtards and if i need to say more, they listen to the indescribably idiotic Keynesian fucked face cunt krugman.. And they put them in charge of the Nations finances
Is it any wonder China saw its chance and struck when its ducks were all lined up.
Anyone calculatd how much the over leveraged fraudsters in te C Suites need to find as additional collateral for the fucking wankers of Wall St to prevent them going under two as the trillions in stock buy back loans are either called in or the rest of the stock is appropriated to cover the shortfall.
Any done any calculations on forward earnings when these mothers start going down by the thousand as they crumble to dust.
Does anyone see what I see.
This fucker is going the way of commodoties, 2000 to 2002 levels, and the vest case
If earnings are all ripped out by the banks for the next ten years then I see early 1990's levels for bottom ing out.
Either way the rcord of 1800 plus trading days between a new top is likely to get broken and 1300 trading days is a cinch now
Psst, hey mister, wanna buy some twitter stocks.