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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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Wed, 08/10/2011 - 07:25 | 1545532 EscapeKey
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.

Wed, 08/10/2011 - 07:31 | 1545543 ZeroPower
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.

 

Wed, 08/10/2011 - 07:37 | 1545557 EscapeKey
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.

Wed, 08/10/2011 - 07:33 | 1545547 BlackSea
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?

Wed, 08/10/2011 - 07:55 | 1545596 chinaguy
chinaguy's picture

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

Wed, 08/10/2011 - 08:23 | 1545659 falak pema
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?

Wed, 08/10/2011 - 08:23 | 1545661 LongSoupLine
LongSoupLine's picture

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

Wed, 08/10/2011 - 09:29 | 1545883 janus
janus's picture

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

cheesiest joke i'll hopefully ever post

Wed, 08/10/2011 - 08:35 | 1545685 ReactionToClose...
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

Wed, 08/10/2011 - 09:24 | 1545848 mtomato2
mtomato2's picture

"Blowy- upy..."

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

Wed, 08/10/2011 - 09:27 | 1545866 janus
janus's picture

TD,

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

Wed, 08/10/2011 - 10:06 | 1546083 Grand Supercycle
Grand Supercycle's picture

UPDATED S&P500 CHART THAT FORECAST THE CRASH:

http://bit.ly/x618

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

Wed, 08/10/2011 - 10:24 | 1546171 janus
janus's picture

if that's your site, nice work

Wed, 09/14/2011 - 05:27 | 1667620 chinawholesaler
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