European Liquidity Downgraded From Ice To Carbonite

Tyler Durden's picture

Chatter across European trading desks, since confirmed by the EBA, is that medium- and long-term funding in Europe is now completely frozen. With Rehn still in denial and pointing to the problems in US and China, it seems things just got a little more desperate. Basis swaps at crisis levels, FRA-OIS at crisis levels, European GDP-weighted sovereign risk at all time highs, Belgium and Austria dislocating today, and EURUSD cracking through 1.3350.


EUR-USD Basis swap shows demand for USD liquidity is critically high.

FRA-OIS is at MAR09 levels - indicating trust in interbank lending has disappeared.

And at the center of it all, GDP-weighted sovereign risk for the entire eurozone just broke to all-time highs +15bps today at 328bps.

Charts: Bloomberg

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russki standart's picture

The only liquidity in Europe is the urine dripping down the legs of the Eurocrats and Politicians.  Were I a EU leader,  I would be keeping my private jet on standby for a one way flight to Paraguay.



Mitch Comestein's picture

It cost 0.30 euro to use the toilet in Germany.  They are just trying to save.

BaBaBouy's picture

Why IS the EURO worth more than a $Buck anyway ???

Spastica Rex's picture

How many angels can dance on the head of a pin?

Doubleguns's picture

BAbabouy, Unfortunately that tells you what a buck is worth. Stop laughing, you should be cryin.

Theta_Burn's picture

Don't worry our invite (US) to this party is just delayed a bit and NOT because our USPS in bankrupt either

The good news is this Christmas will be enjoyed by a few

The bad news is next Christmas will be canceled.

The Big Ching-aso's picture



How much more shit can these fans take before they get up and walk out the stadium?

Joe Sixpack's picture

Don't forget the part about the jet being loaded with gold.

Joe Sixpack's picture

Don't forget the part about the jet being loaded with gold.

The Big Ching-aso's picture



How can I you told me twice already.

The Big Ching-aso's picture



Does anyone know where I can buy a pocket-size Mayan calendar?

Eally Ucked's picture

Dollar Store or 12.5$ at Borders.

slaughterer's picture

I call a "double-top" in GDP-weighted sovereign risk.  /sarc

Buck Johnson's picture

No kidding and they might even be able to live on George Bush's massive farm that he bought down there.  It's drying up and drying up fast, and good money is betting that the EU will fall apart and/or someone is going to leave a big country (Germany) before all hell breaks loose.

tmosley's picture

Paging WB7, need image of Sarkozy frozen in carbonite, paging WB7.

Conrad Murray's picture

Stuff those technocrat turkeys. Happy Thanksgiving eurobitches.

GeneMarchbanks's picture

Thank you Conrad. Technocraturkeys... will roast. Please do likewise to BAC etc etc across the pond.

Joe Sixpack's picture

Turkey may be roasting eurobitches (though they are a eurobitch)

The Axe's picture

Look for a cut in the rate, tonight..not in 2012 like JPM states, and look for a IMF to accept any paper, even toxic paper for a cash infusion tonight..and then watch I short-covering snap-back rally....

the not so mighty maximiza's picture

thats all thats left now, bailouts and rumors of bailouts.

Caviar Emptor's picture

I'll take rumored bailouts for 500Trillion, Alex

ex VRWC's picture

OK, Rumored bailouts for $500 Trillion.  From which nearby star does this alien civilization who will soon bail out Earths governments hail?

Doo doo doo doo doo doo doo

Doo doo doo doo doooooo doo doo doo doo.....

Spastica Rex's picture

And a rain of blood and plague of locusts.

Eally Ucked's picture

I would cut it to -5%, why to go for small change? Talking about paper acceptance by IMF that's why I have stocked up on Toilette variety and hope to cash in on the trend. I'll make call to them tonight to finalize our deal.

Corn1945's picture

How much longer can they keep this sham together?

Gene Parmesan's picture

Probably just long enough for the Syria/Iran/China/Russia vs. the US/Europe/etc royal rumble to get underway.

Tsar Pointless's picture

The former team is managed by "Classy" Freddie Blassie, while the latter is managed by "Captain" Lou Albano.

Too bad Andre the Giant isn't alive to participate. I'd love to see Sergeant Slaughter team up with him against The Iron Shiek and Ivan Koloff.

Opportunity missed.

moskov's picture

I don't believe the Fundamentals of Europe is that strong. If Russia cut their gas supply. Game over?


They have the guts to fingerpointing US and China? What a bunch of shit

hedgeless_horseman's picture



If When Russia must cut their gas supply. Game over?.

Doubleguns's picture

They will simply price it in gold. EZ to take note from Germany Weimer republic and burn euros this winter.

Mr Lennon Hendrix's picture

Germany will leave the Euro before that would happen.

Cdad's picture

Wonderful...and just in time for the holidays!  

Oh the weather outsdie is frightful, but the fire side 's delightful....

GeneMarchbanks's picture

...and since we have no place to go, let it...

Dapper Dan's picture


Today will go down in history as The Thanksgiving Day Massacre,

Someone mentioned the message boards of yahoo, I have read many comments on a number of MSM sites and peoples opinions have changed dramatically in the last 6 months, the sheeple are hearing rumors of wolves in the adjoining fields and the wolves are hungry.  The panic phase is not far off.

When the anger comes I hope the sheeple don’t attack the shepherds, it is the owners who pay the Sheppard’s to herd the sheeple that are responsible, but I fear they don’t yet know who the owners are!


Quintus's picture

Please, please, please just crash already.  This is getting unbearably tedious.

Spastica Rex's picture

I see you quiver with antici.......................................................pation.

But maybe the rain, isn't really to blame, so I'll remove the cause.....

but NOT the symptom!

StychoKiller's picture

Oh, to take that first step to the left...

midgetrannyporn's picture

Don't get hot and flustered

Use a bit of mustard...

TheSto's picture

The night is darkest before the dawn. 

Tsar Pointless's picture

Yes, but unfortunately, the sun just went down, and we're stuck in the Arctic in the middle of winter.

Dawn is a long, long ways away, and there won't be much daylight to sort through things before we go back to darkness.

Happy Thanksgiving, everybody!

StychoKiller's picture

"We shall meet again, in a place where there is no darkness." -- O'Brien, "1984"

dwdollar's picture

You think this is night? You ain't seen nothing yet.