Spanish CDS Storms Above 600bps

Tyler Durden's picture

Spanish 5Y CDS broke back above 600bps (just shy of their record 603bps level) and 35bps wider of their intrday low spread from 5 hours ago. Spanish 10Y yields are over 50bps wider/higher than their intraday lows just after the open in Europe. Italy also just broke 550bps. EURUSD is almost unch now.

Spain 5Y CDS > 600bps

Italy 5Y CDS > 550bps