European Risk Update

Tyler Durden's picture

Risk update: today everyone is more blowy upy, both core and periphery

  • MAIN -1    
  • XO -10     
  • SOVX 283/287 +8  
  • SOVX CEEMEA 245/249  
  • IT +16                                   
  • SP  +12
  • PORT +9
  • IRE +5
  • BELG +6
  • FR +5
  • UK +1
  • DEUTSCHE  +.5

And a special bonus: Intesa Sanpaolo -4.6%, Societe Generale - 4%, Unicredit -3.8%.

So don't worry, with the Peripheral risk now priced in as transferred to the core, when Germany blows up, it is almost guaranteed that China will just assume all German sovereign risk. Which will work for about 3 hours.

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EscapeKey's picture

Italy and Spain up again? I would have thought their CDS spread relative to Germany would be zero, now that the lemon socialists have determined the German taxpayer will be on the hook for everyone else's debt.

ZeroPower's picture

their CDS spread relative to Germany would be zero,

Different sovereigns have totally different spreads. Ger 5yr CDS last: 82/85; and Spa: 350/360; Ita: 348/358.


EscapeKey's picture

Yes, I know. Mine was a facetious response with regards to the ridiculous "permanent solution" that is the ECB buying Italian/Spanish bonds.

BlackSea's picture

And Japan of course will assume Chinese gov't risk when it blows up. Or is it Vietnam and Indonesia? ASEAN? Anyone? Bueller?

chinaguy's picture

But, but all of the European bourses are in the green...

falak pema's picture

dead cats do bounce; but to their credit cats have nine lives. So you never know if the cat is bouncing dead unless you have counted beyond nine...

Where are we in this ghoulish countdown?

LongSoupLine's picture

Dust off those Deutsche Mark printers boys, it's reversion time!

janus's picture

what do you 'mean'? it's a 'standard' question.

cheesiest joke i'll hopefully ever post

ReactionToClosedMinds's picture

yeah .... for the first time (at least for my simple brain .... Tyler it seems is way ahead of me), one can see how this very likely may play out ultimately.  Like watching the beginning of a gruesome multiple car or train wreck (ala The Matrix movies) in very slow time delayed motion ... made even more hideous by the overall folly of human nature coming into play ... trying to 'control' it but making everything much worse

mtomato2's picture

"Blowy- upy..."

Man, you Tylers would be fun to sip fine Scotch with...

janus's picture


can you post this everyday?

or, and i realize this is a stupid question, and i really have tried to find it on my own, but is there a website with all the numbers i'll need to watch everything without having to pay for that damned bloomberg terminal?

specifically bonds, commodities, spreads...i'd also like to be able to monitor forex if that's possible

Grand Supercycle's picture


My long term indicators still warn of USD rally and EURUSD weakness.

janus's picture

if that's your site, nice work

chinawholesaler's picture

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