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European CDS Rerack
The latest midmarkets:
- MAIN 141.25/142.5 +.75 XOVER 590/593 +10.5
- ITALY -4
- SPAIN -13
- PORT -5
- IRELAND -
- GREECE -
- BELG -2
- FRANCE +2
- AUSTRIA -1
- UK +5
- GERM +4
- SOVX 245/250 -
As predicted last week, the default risk is increasingly shifting from the periphery to the core. And while the spreads in the PIIGS will resume widening within a few days, German CDS will not tighten, and in fact as of this morning, German 5 Year CDS is wider than the UK - for the first time since January 2008.
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Not a single euro in bailout has reached Greece only large promises, 20th og August approaching. Greece is insolvent.
so is every other euro country save for maybe germany
it's a question of realization and acceptance at this point. i hope for their sake, they choose the Iceland way instead of the bankster debt slavery way
every other euro country??
When that happens to Luxembourg, it would mean that the rest of Europe is already Mad Max world.
Not saying it can't or won't happen...
French gov trade balance printed very well last evening. UK on the other hand ... not
The European CDS are moving as predicted by Tyler. Kudos.
The European CDS market does not make much sense, does it?
I'd prefer to be roasted in hell before I'd venture in this market, but hey, I'm not a financial hero.
EU problems were artificially creates by US rating agencies.
EU problems can be solved by banning rating activity.
the Squid may struck you for this blasphemy
The problem is that if you do not ban rating, your country will be abandoned by invertors.
Majority of world investors do not speak English, they can only understand that AA+ means "stay away".
Every European problem was caused by rating agency. Correct. They are doing God's work, so stop biching on them.:)
Low rating is like a banner of your back saying that you are shit. If you have such a banner on your back, it becomes your biggest problem.
So, I think, before anything else, the rating should be banned. After that, you can start solving other problems.
That would be the end of a free market capitalism. If the house is in order, there will be buyers. If not, it would be prudent to warn. The rating agencies should put the USA on junk status. That's where it belongs, and a number of other countries too. Now no one can see the good from the bad. Your idea only prolongs the PONZI. Did you really think that the banks would start behave fiscally responsible suddenly? And dispose of the debt? I find this naïve!
The system is broken, and needs to crash, in order for a better one to emerge. Problem is the ECB is throwing good money, from the EU core after bad (bunga bunga). In this, the banking cartel has with the help of the EU burocrats gotten control finally over all the finances of the citizens of the EU. And will dump it in a big black hole.
That big black hole will have an AAA sign next to it.
What's gonna happen August 20 in or with Greece?
The big test comes on Aug. 20, when Greece must redeem 6.6 billion euros of maturing bonds.
Meyers just ended hopes of Q3 on cnbc
Economists I'd Like to Fuck! EILFS!
Speaking of which, here's Alex Jones with Naomi Prins:
http://www.geraldcelente.proboards.com/index.cgi?board=jones&action=display&thread=1626
I'd like to take her for a spin.
Germany 80/84 last vs UK 81/85 so seems the Arbs were all over that from this morning when it was first noticed.
i'm always a fan of european racks
keep on posting the re-racks
Natural gas held up so at least now we know which price was being maniputlated like a mother phucker. phucking whores. "just show me a drop of oil and i'm there!" time to be "kicked to the curb" with all those phancy pants cars and over sized pick up trucks nobody could afford to begin with.
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