At Least Greek CDS Is Tighter... Oh Wait, It Isn't

Tyler Durden's picture

Some may find it odd that afer all the measures taken to resolve the threat of a Greek bankruptcy and Eurozone explusion, it is just Greek CDS that are actually wider on the day. We suggest those "some" forget about reality and enjoy the latest massive short covering squeeze which will end only when it does and not a moment sooner.

5Y                     10Y                   5/10's             

  • GREECE            58/63  +1        59/63      -0.5/2.5                                                                                                           
  • ITALY               457/469  -5      434/448      -28/-14                           
  • SPAIN              380/390  -5      360/374      -25/-11                           
  • PORTUGAL     1100/1160 -10      875/945    -250/-190                           
  • IRELAND         800/840  -15      610/680    -205/-145                           
  • BELGIUM        260/270  -13      255/269      -8/2                             
  • FRANCE          172/176  -7    184.5/190.5    11/16                             
  • AUSTRIA        136/140  -7    151.5/159.5    15/20                             
  • UK                   81/85  -1        97/103      15/19                             
  • GERMANY      82.5/84.5 -0.5      99/104      16/20