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CDS Rerack: Spot The Odd One Out

Submitted by Tyler Durden on 10/10/2011 08:08 -0400

Spot the odd 5 Year CDS out (hints included)

PIIGS:

PORTUGAL 1095/1135 -20
GREECE 59/63 0
ITALY 430/440 -14
SPAIN 365/375 0
IRELAND 670/710 -10

CORE:

BELGIUM 286/296 +4
FRANCE 174/178 -1
AUSTRIA 154/164 -4
UK 91/95 0
GERMANY 97/101 +0.5

INDEX:

SOVX 330/334 -1

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Mon, 10/10/2011 - 08:09 | 1756886 GeneMarchbanks

Waffles!

I miss Dooshland.

Mon, 10/10/2011 - 08:10 | 1756893 Byte Me

Tripel!!

Mon, 10/10/2011 - 08:44 | 1756971 heyligen

Don't worry, Sarko-Merkel solve all European problems within one month. They will tell you later how they do it. Berlusconi not involved.

Mon, 10/10/2011 - 08:51 | 1756993 LeonardoFibonacci

you think Sarkozy "nails/fucks" Merkel behind closed doors like he did with Rachida Dati (former minisiter of Justice for France) who had a child but the father is not known was never revealed. But i do recall those long working nights Sarkozy & Dati had when she was a minister. official business!

Mon, 10/10/2011 - 08:12 | 1756894 ZeroPower

Might be useful to include or specify SovX WE or CEEMEA seeing as how the spreads converged very nicely over the past weeks.

Mon, 10/10/2011 - 08:14 | 1756898 cossack55

Iceland?

Mon, 10/10/2011 - 08:17 | 1756906 DeadFred

Can you give us a hint??

Mon, 10/10/2011 - 08:15 | 1756899 pendragon

friday's spanish downgrade conveniently forgotten

Mon, 10/10/2011 - 08:17 | 1756904 Dick Darlington

And Italian too, as usual in these broken "markets".

Mon, 10/10/2011 - 08:15 | 1756902 RobotTrader

ES now up 110 off last week's lows.

Another short massacre.

Mon, 10/10/2011 - 08:25 | 1756921 DeadFred

And yet short interest is rising. They can play this game until they can't. What worries me as a permabear is the euro rose overnight higher than where my estimate of the multiweek trend line should have capped it. Otherwise everything is still nicely capped by resistance. The euro though is not an insignificant exception.

Mon, 10/10/2011 - 08:17 | 1756905 RobotTrader

BMW ramping up production, demand for luxury vehicles is voracious.

http://www.bloomberg.com/news/2011-10-10/bmw-sept-sales-rise-says-poised...

Mon, 10/10/2011 - 08:24 | 1756919 somethingisrotten

Another blind post by MomoTrader. He obviously did not read the entire article.

Mon, 10/10/2011 - 09:27 | 1757107 Schmuck Raker

Creative destruction.

The Germans are still using Beemers for kindling.

Mon, 10/10/2011 - 08:21 | 1756916 Migrated Bird

Merkel and sarkozy have a plan. Please wait for the details to come out. They know how to fix everything. Do not ever bet against governments. They will always win.

The sheer number of euro technocrats and organizations just continues to amaze me. EU,EC,ECB, ABC, XYZ etc etc.. Good high paying gigs I assume. Why would anyone want the cozy jobs to go away?

Mon, 10/10/2011 - 09:09 | 1756991 Reptil

from the north came an empty wind. like an invisible mist it flushed through the empty space, pushing back the lingering summer warmth. everything shivered and held it's warm breath for one moment, as it was touched. after the intial surprise, all seemed confident, arrogant even, withering the iron hand with equally unexpected ease. but the hand didn't go away. it proved relentless, and slowly, ever so slowly, the leaves, the branches, fingers, arms grew cold, and numb.

summer's gone now. memories of careless days, laughter resounding through the trees, energy, like brushfire spent on frivolous movement, just because it could, all that will soon be forgotten.

the weak and foolish will be told to bear the brunt. but equally ignorant of the reason why, are they ignorant of the importance of this demand. impatient parents alike the rulers will use their status, which is hollow, only to expose the hollowness, to the world and themselves. their unbased resolve becomes desperation, and they'll thrash around like wounded animals.
the sollemn, singleminded, will now come into their own. gone are imaginairy castles, and tall stories. empty grey skies, mud and iron remain.

and so it should be. the procession of seasons is inevitable. those that are destined to rule this time know. they've always known. to fight it is to die.

http://www.youtube.com/watch?v=5kGqm80Y4do

Mon, 10/10/2011 - 08:30 | 1756940 gmak

Greece. It's so obvious. How can an essentially bankrupt nation have a cds at 59 / 60+, better than Germany? Does anyone even understand what 5 year CDS prices mean?

Mon, 10/10/2011 - 09:21 | 1757084 Archduke

that must be a typo. it's 5,138 as of today 3:19 GMT+1.

http://www.bloomberg.com/apps/quote?ticker=CGGB1U5:IND

Mon, 10/10/2011 - 09:21 | 1757087 Bohemian Clubber

LOL 59/60 is an upfront quotation in percentage my friend... not in basis points like Germany

Mon, 10/10/2011 - 12:50 | 1757951 o2sd

Well then the post should fucking say so. All previous CDS posts on ZH have shown CDS spread in basis points, I don't even know what the fuck these numbers are. Is it bid/ask in percentage? And wtf does that mean?

Mon, 10/10/2011 - 14:42 | 1758448 Archduke

that should have probably read something like: Greece 5135/5140 0.

I think Tyler's point was that of the core countries Belgium, at over 100,

let alone well over 200 and approaching 300, now belongs with the PIIGS.

Mon, 10/10/2011 - 08:42 | 1756965 jdelano

Everything looking rosy again. Shorts scared. S&P balloon within inches of spiked ceiling. This is the part where slovakia feints and/or anonymous attacks and/or another bank goes down etc., and the market crashes back down. I call a Thursday/Friday bloodbath.

Mon, 10/10/2011 - 08:43 | 1756970 DavosSherman

0Hedge said yesturday 'Dexia's nationalization would show up in Monday's CDSs'.

Mon, 10/10/2011 - 08:52 | 1756995 Zaphod B.

Anagram for Sarkozy Merkel Dexia =

Kamikaze Orderly Sex

Yakked Moralizer Sex

Maxed Leaky Zero Risk

Mon, 10/10/2011 - 09:07 | 1757041 Dapper Dan

I spotted in in under 3 minutes, it's Belguim.

I one time put a jigsaw puzzle together in under six months, that may seem like a long time but the box said "for 2 to 4 years"

CDS Rerack: Spot The Odd One Out

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