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Euro CDS Rerack

Tyler Durden's picture




 

Add the CDS market to the list of participants that is ignoring the biggest development out of Europe in two months: the failure of the second Greek bailout.

SPAIN              360/366    -13     
PORTUGAL       991/1042   -11    
IRELAND           786/837    -29      
GREECE            47/49        -1     
BELGIUM          242/251    -4     
FRANCE            158/165    -3       
AUSTRIA           117/126    -1        
ENG                   81/85     -1.5      
GERM                82.5/86   -1

 

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Thu, 08/25/2011 - 08:28 | 1598638 speconomist
speconomist's picture

Europe in Wonderland? How long will it last and most importantly, what do they smoke?

Thu, 08/25/2011 - 08:28 | 1598643 DefiantSurf
DefiantSurf's picture

kind of like an out of fuel airplane....all the way to the crash site

Thu, 08/25/2011 - 08:38 | 1598663 EscapeKey
EscapeKey's picture

Just Europe? Apple has consistently gained overnight, and is now down only 2%. No doubt by open, it'll be up a percent or two.

Nothing matters AT ALL to the equities markets anymore.

Thu, 08/25/2011 - 08:40 | 1598671 HelluvaEngineer
HelluvaEngineer's picture

Apparently you missed CNBC last night.  Jobs will still be chairman.  Everything will be just fine.  Everyone was expecting this.

Thu, 08/25/2011 - 08:43 | 1598679 EscapeKey
EscapeKey's picture

"I wouldn't say I've been missing it, Bob"

Funny how they never expect bad news until it strikes. Then it suddenly is "less bad than feared".

George Fucking Orwell.

Thu, 08/25/2011 - 08:44 | 1598690 ZeroPower
ZeroPower's picture

A squeeze by early morning participants. Theres no liquidity in the pre morning session so don't fret.

Thu, 08/25/2011 - 08:28 | 1598641 DefiantSurf
DefiantSurf's picture

I liked the synonyms better

Thu, 08/25/2011 - 08:29 | 1598646 speedy
speedy's picture

Me too!

Thu, 08/25/2011 - 20:21 | 1602218 StychoKiller
StychoKiller's picture

I liked your avatar better when it was upholstered!

Thu, 08/25/2011 - 08:42 | 1598681 HITMAN56
HITMAN56's picture

agree, where those synonyms at?

Thu, 08/25/2011 - 08:28 | 1598642 youngman
youngman's picture

It must have been our durable goods order...or maybe they like Steve Jobs quitting.......lol

Thu, 08/25/2011 - 08:29 | 1598647 MarkTwainsMustache
MarkTwainsMustache's picture

Greece only at 47/49???? I'M A BUYER

Thu, 08/25/2011 - 08:30 | 1598649 DefiantSurf
DefiantSurf's picture

with 46% yields !

 

Thu, 08/25/2011 - 08:46 | 1598701 ZeroPower
ZeroPower's picture

47/49 is the upfront amount to pay... wierd why Tyler reverted to that this morning. Granted, quoting in bp for a level in the 2000s is trivial.

Thu, 08/25/2011 - 08:35 | 1598658 IMA5U
IMA5U's picture

well... this scares off the shorts

 


EU Regulators May Extend Short-Sale Bans

 

http://www.bloomberg.com/news/2011-08-25/eu-regulators-may-decide-today-...

Thu, 08/25/2011 - 08:36 | 1598659 Cdad
Cdad's picture

Shhhhhhhh Tyler.  We are currently also pretending that Steve Jobs leaving Apple is no big deal.  [wink, wink, nudge nudge]

Thu, 08/25/2011 - 08:39 | 1598667 SheepDog-One
SheepDog-One's picture

Nothing is a big deal...wanna go tip some cows over?

Thu, 08/25/2011 - 08:38 | 1598664 j0nx
j0nx's picture

As Jack Bauer says: Don't fight it.

Thu, 08/25/2011 - 08:40 | 1598665 DosZap
DosZap's picture

As usual UK ahead of US News.........at least they report the way it is.

http://www.telegraph.co.uk/finance/financialcrisis/8721151/Market-crash-could-hit-within-weeks-warn-bankers.html

Think Gold & PM's will take an Obamuua this time?.

Or the warm up for the Bernanks, Q35 Program, take tres?.

Thu, 08/25/2011 - 08:41 | 1598675 EscapeKey
EscapeKey's picture

Bad news? That's priced in already.

Should be another bullish day - 400 points on the horizon on the back of news that the economy hasn't yet collapsed, and hence "isn't as bad as it could have been" (you can thank Marketwatch for that one).

Thu, 08/25/2011 - 08:41 | 1598678 SheepDog-One
SheepDog-One's picture

We're not supposed to pay attention to the banksters squeels right now, 'all is well, shorts about to get taught a lesson, Bernank got our back, yadda yadda', you know.

Thu, 08/25/2011 - 08:49 | 1598712 DefiantSurf
DefiantSurf's picture

in my Guiness English voice "Brilliant!

 

Thu, 08/25/2011 - 08:52 | 1598727 Soul Train
Soul Train's picture

great post, thanks for that DOSZap.

http://www.telegraph.co.uk/finance/financialcrisis/8721151/Market-crash-could-hit-within-weeks-warn-bankers.html

what does ZH 'Tyler' think about the article?

Thu, 08/25/2011 - 08:54 | 1598740 DosZap
DosZap's picture

Soulllllllllllllllllllllllllllllllllll Train,

I dunno, I await TD, or a brainiacs opinion???.

At this point, I do not know whether to pee or go blind.

BTD, or is a HUGE one forthcoming?

Thu, 08/25/2011 - 08:40 | 1598670 oogs66
oogs66's picture

it all seems like insanity...and yes, greece will default

Thu, 08/25/2011 - 08:45 | 1598695 ZeroPower
ZeroPower's picture

Yup, been priced in the bonds and CDS for over a month

Thu, 08/25/2011 - 08:45 | 1598672 Soul Train
Soul Train's picture

the markets got their quick little rebound this week - long traders got to put their head in the sand  again. Seems they forgot about Europe and took a break./

A lot of the " hedge funds" are going to get creamed these next few months. Everyone following the same SMA's, and trying to outguess the other trender looking at similar charts. Greed and the rush for a quick flip. Easy money. What a joke.

Like cake walk.

who's next to fuck themselves?

 

Thu, 08/25/2011 - 09:14 | 1598847 DefiantSurf
DefiantSurf's picture

more like an elephant walk

Thu, 08/25/2011 - 10:25 | 1598685 plocequ1
plocequ1's picture

Who gives a fuck? Market is going higher. It doesn't matter though, Im going to fucking die on Sunday. Put that in your CDS pipe and smoke it. Good luck to my east coast peeps

Thu, 08/25/2011 - 08:43 | 1598687 SheepDog-One
SheepDog-One's picture

Bloomberg- 'Bernank signals 'No QE', higher data and such'....uh oh.

Thu, 08/25/2011 - 08:47 | 1598708 DosZap
DosZap's picture

SD ONE,

Ruh Roh,

Metals take a dump....................................get ready for backing up the trucks(they are charging by the mile now,seriously,this will do WONDERS for the truck sales,as the lots are FULL already).

Soon,I expect to be charged for each TOILET Flush recorded at my home.

Thu, 08/25/2011 - 08:49 | 1598717 SheepDog-One
SheepDog-One's picture

Hurricane this weekend may be the best thing for GM dealers, leave the keys in the ignitions and let some inventory get cleared out.

Thu, 08/25/2011 - 08:51 | 1598730 DosZap
DosZap's picture

SD ONE,

You owe me a keyboard!!!!!!!................Hahahahahaahahhaha

Thu, 08/25/2011 - 09:18 | 1598868 DefiantSurf
DefiantSurf's picture

ya I spit my coffee out too

GM probably running caravans of car haulers to NC right now lol

 

Thu, 08/25/2011 - 08:43 | 1598688 virgilcaine
virgilcaine's picture

European vacations trump credit crisis.

Thu, 08/25/2011 - 08:50 | 1598720 DosZap
DosZap's picture

SD One,

WHAT does he think WE are smoking?.

< 'No QE', higher data and such'.>

Thu, 08/25/2011 - 09:13 | 1598749 virgilcaine
virgilcaine's picture

Setting up for the 

'punt' from JH...the biggest non event in years.

Thu, 08/25/2011 - 09:11 | 1598829 THE DORK OF CORK
THE DORK OF CORK's picture

The Modern Western man.......................

www.youtube.com/watch?v=WmzU47i2xgw

 

Thu, 08/25/2011 - 09:17 | 1598878 DefiantSurf
DefiantSurf's picture

 

 Buy the rumor => buy the news? This is bullish or bullshit?

I am getting so confused

 

Thu, 08/25/2011 - 14:35 | 1600883 edotabin
edotabin's picture

Well at this point the news is bullshit so.......

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