European Credit Weak As Stocks Near Friday Highs

Tyler Durden's picture

European equity prices are pushing up towards Friday's highs, as Spanish and Italian sovereign bonds mysteriously surge back to unchanged on the day - but European corporate and financial credit markets are notably wider. Financials, most notably, remain underperformers and significantly worse than Friday's worse levels - seemingly treating with disdain yet another false hope in equity markets.

but notably Italian and Spanish yield-spreads have pulled back to unch but remain notably worse than Friday's best levels...

Chart: Bloomberg

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Dick Darlington's picture

Well, what can i say. Equities go up because equities go up. Duh!

Hearing domestic are on the bid in spain/italy. Magical, mystical moves... Like the hole is already not deep enough...

slaughterer's picture

Red or black?  Place your bets!  No free drinks this time though. 

LMAO's picture

....Aaaand what about that Brent / Light compression of about 2 Dollars

It's all random galore this market.

 Edit: Holy fuck, make that $ 2.30 . . . . and counting

LawsofPhysics's picture

Yep, my play is that WTI will remain flat/increase while brent continues to come down.  A lot of spin coming our way on everyone's "positive" earnings and the plan is to hold pump prices where they are for a bit.  Same old shit (see previous CITI report),I really wish I had the option of moving non-producing assets (read failed loans) from the liability column to the revenue column of my books too.

Conman's picture

Dow 13k hat on!

SheepDog-One's picture

Something this week will surely bring back the bleating of the spring QE sheeple.

LawsofPhysics's picture

fucking bahhh, bbbaaahhhhhhh.  bitchez.  Sorry, couldn't resist.

LawsofPhysics's picture

Got to love ZH.  We al know how to make this trade, and we all know how it will turn out.  What "news" do we have coming out this week, the spread will widen, crap, maybe not.