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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speconomist's picture

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

DefiantSurf's picture

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

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.

HelluvaEngineer's picture

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

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.

ZeroPower's picture

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

DefiantSurf's picture

I liked the synonyms better

StychoKiller's picture

I liked your avatar better when it was upholstered!

HITMAN56's picture

agree, where those synonyms at?

youngman's picture

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

MarkTwainsMustache's picture

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

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.

IMA5U's picture

well... this scares off the shorts


EU Regulators May Extend Short-Sale Bans

Cdad's picture

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

SheepDog-One's picture

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

j0nx's picture

As Jack Bauer says: Don't fight it.

DosZap's picture

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

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

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

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).

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.

DefiantSurf's picture

in my Guiness English voice "Brilliant!


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?

oogs66's picture

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

ZeroPower's picture

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

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?


DefiantSurf's picture

more like an elephant walk

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

SheepDog-One's picture

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

DosZap's picture


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.

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.

DosZap's picture


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

DefiantSurf's picture

ya I spit my coffee out too

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


virgilcaine's picture

European vacations trump credit crisis.

DosZap's picture

SD One,

WHAT does he think WE are smoking?.

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

virgilcaine's picture

Setting up for the 

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

THE DORK OF CORK's picture

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


DefiantSurf's picture


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

I am getting so confused


edotabin's picture

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