European CDS Rerack

Now that a "few good hedge funds"
have finally made CDS a credible instrument all over again but
trampling all over ISDA putrid, corrupt and meaningless corpse, here is
an update of Eurozone CDS.

                            5Y                  10Y          5/10's Rolls                  

ITALY              505/520   +17.5   481.5/501.5    -28/-18
SPAIN             405/420   +17.5   376.5/396.5    -25/-15
PORTUGAL     1070/1085  +15     807.5/877.5   -265/-205
IRELAND         665/695   +10       495/565     -180/-120
GREECE         66.5/69.5  -0.5       68/72       0.5/3.5
BELGIUM      307.5/322.5 +12       298/318      -14/0
FRANCE          219/227   +11       240/248       17/21
AUSTRIA        210/220   +5      226.5/236.5     14/19
UK                  92/96    +2        107/113       14/18
GERMANY      103/107   +2        122/128       17/21

Comments

[GMadScientist]

Bam. Like dat, bitchez.

[Irish66]

Michigan is sooooo happy

[Dapper Dan]

Fancy France,

Report: France included on S&P downgrade list, EU sources tell Dow Jones -

[distopiandreamboy]

Congress must be pissed S&P is ruining their shot at shorting the market before they "vote" on the debt ceiling.

[GeneMarchbanks]

If sovereign CDS is credible again, Greek banks will be very happy soon.

[Ghordius]

Yes, let's give the Greek banks, the "few good hedgies" and their friend the white hats and call them all heroes...

CDS market saved - derivatives are safe...

Too bad they are going to blow us up all, eh?

BAN CDS - for the second time, BAN CDS

[Irish66]

Greece about to default??

[bdc63]

I consulted my magic 8 ball and ... IT IS DECIDEDLY SO

[Stoploss]

I love European CDS re-rack. One of my favorites.

[kaiserhoff]

Like the early Christians, we live in hope..., but I thought the whole point of a CDS is that the sell side gets to decide if there is or is not a default, as in AIN'T GONNA HAPPEN.  What has changed?

[gianakt]

The big suprise will be that England gets down graded as well.

[taniquetil]

Given all the gloom-and-doom numbers coming out of the UK recently, shouldn't their spreads be a lot higher than 100?

[justanothernerd]

Who's underwriting all of this shit?

[falak pema]

If ALL the first world economies get downgraded as logical consequence of the US Downgrade, the MOTHER of all current downgrades, then the relative spreads should remain the same in a sane, logical market. But this market is NOT sane, logical, it is totally manipulated by the people behind the curtain.

[Portugal]

The BIG Suprise for the remaing Europe, is how can England sustain its rating when England alone has a debt twice the size of all other european countries together. Talk About France ? Talk About Italy.... Who  do you think you are foolong??

[smiler03]

An error. UK isn't in the Eurozone.