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Euro CDS Rerack
In one word: ugleeeeee
- ITALY +25
- SPAIN +25
- PORT +35
- IRELAND +35
- GREECE +2
- BELG +20
- FRANCE +15
- AUSTRIA +8
- ENG +10
And yes, the fortress of invincibility, Germany, is starting to sink:
- GERM +10
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Woov, finally Germany wellcome to hell.
Italy's 10 year spread versa Germany was 180 in late July, then jumped to about 400 when SPX dropped to 1100, starting climbing from 220 low yesterday when sell off started to current level of 280. Slope of curve has reversed and still has a hell of way to go up. The market is following Italy's 10 years IMO.
Yes, and more importantly the CDS market is, once again, correctly indicating not all is well in the EUR banks, especially now turning its head to the German ones:
DB and Commerzbank are the 2 largest wideners in fin'l CDS today... 162/172, 232/247 respectively.
Tyler, France´s AAA outlook was just confirmed by S&P:
http://www.reuters.com/article/2011/08/18/us-france-rating-idUSTRE77H0YE20110818
The S&P chairman was probably concerned about his yacht receiving the 'Rainbow Warrior' treatment.
http://en.wikipedia.org/wiki/Sinking_of_the_Rainbow_Warrior
Its even funnier when you know that the DGSE sunk the ship.
Now imagine what that +10 would have been if Germany were on the hook for a couple of trillion in Eurobonds.
That is why Eurobonds will never happen.
Merkel will make all the right noises about supporting the Eurozone for as long as her words retain a shred of credibility, but Germany will not, because it simply cannot, carry the whole Eurozone on its back.
I think it's even simpler than that. Europe's economy just does't add up with the Euro.
In good times, some bits are OK, others maybe do quite well, but the overall balance is negative.
In bad times, the whole thing is catostrophic.
Leprechauns +35
Germany should cut and run before they get dragged fully into this mess
Mutually assured financial destruction. You can only bail once your toast. Not before. What a disaster.
GREECE +2? Is that the ceiling? Let's raise the ceiling!
Germany should secede. Go back to Deutchmark and get back their gold.
Of course that might create WW3 in Europe, but eh.
I think Chavez got dibs on all of the available gold.. Wait until they figure out there is a minute supply issue.
Trying to get their gold back could cause WW3 on Manhattan.
S&P about to become the sacpegoat for the global depression
Germany in their own mess, that's why they don't cut and run
"Springtime for Deutschmark and Germany.....ta da ta da da....."
Cmon you currency boys, lets dance......"
DM now, or DM later...... its Wunderbar....
Euro and eurozone is KAPUT
You have to wait until and of next year...
I hate to ask this, please explain what CDS is and what the +- means? Clearly it is bad.
Look up 'credit default swaps' and 'role in Gobal Financial Crisis', then get on YouTube and watch every Keiser Report from episode 100 to the latest. 170 something I think.
Then you'll be fit and ready for Fight Club.
you forgot to add a few (dozen) things...but, in the end, pay day is right: you're gonna be better served learning all this stuff on your own. people here will point you in the right direction -- the hard work is up to you. but it's fun; most fascinating subject i've ever studied -- besides alchemy -- and hopefully the second most rewarding.
john wesley harding/
was a friend to the poor/
he rode out/
a gun in every hand,
janus
Me and my banker thugs on a Friday night
We lookin' for the baddest country in the "club" tonight
Me and my thugs on a Friday night
We got the CDS on Swwwole!
Zeit zu essen Sie Ihre Erbsen
British banks today winning most volume on dark liquidity exchanges...Chi-X Europe, BATS Europe
Woof woof! http://www.youtube.com/watch?v=i5N3p2we_og
GOLD NEW ALL TIME HIGH AT $1,820.59 oz
Gold just past the ol all time high of $1,815.50 oz
what a surprise ... come we knew it was going to happen sooner or later. "cut and run"? can any of you imagine that Merkel can actually run ... she´s the alumna of Helmut Kohl the godfather of europe ... she will never betray Europe so prepare for Eurobonds.
Merk/Sark hoping to postpone any Euro bailout talk until after the German (re)elections, but by then the territory may well have been burned; DAX ^GDAXI down 5.44% the worst of the European markets, with the CAC-40 and BEL-20 close behind down 5.3%.
GOLD NEW ALL TIME HIGH AT $1,825.61 oz http://www.goldprice.org/spot-gold.html
WE ARE GOING PARABOLIC NOW!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! <a href="http://www.youtube.com/watch?v=_qO66Rmi1Mw"><strong>Bring The Gold!</strong></a>
CDS? What's that?
Certain Doom Signifier.
holy shit...next week (perhaps tomorrow) is gonna be hella-epic!