CDS

CDS

Toshiba Falls By Limit 20%, CDS Soar By Most On Record As Full Extent Of Damage Revealed

One day after Toshiba's new CEO, Satoshi Tsunakawa, pulled a page from the book of his ill-fated predecessor Hisao Tanaka who presided over the biggest accounting fraud scandal in the company's history, and bowed down during a press conference to apologize to investors, the company's stock crashed by the limit 20%, bringing its two day loss to 32% and wiping out $5 billion in market cap in two days.

Presenting SocGen's "Most Frightening Credit Chart"

"I sometimes feel like ‘The Grim Reaper’, scouring the research savannah in a ghoulish quest to harvest bad news with a forceful sweep of my scythe. Imagine then my perverse delight when our credit team produced what is one of the scariest charts I have seen for a very long time." = Albert Edwards

Trumpflation Takes A Breather As Global Stocks Rise, Oil Jumps On Renewed OPEC "Deal Optimism"

With the Trumpflation euphoria easing back slightly overnight, leading to a modest paring in the USD index and US Treasury yields, Asian and European stocks rose, while US equity futures rebounded to just shy of new all time highs, as crude jumped on renewed optimism that OPEC will agree to cut output; metals rebounded from last week’s losses as yields dropped and the dollar halted its longest winning streak versus the euro.

Doug Noland Interview: "In The Next Crisis The Fed's Balance Sheet Will Hit $10 Trillion"

“I was very concerned back in 2007. I was very concerned with the consequences of this bubble imploding. I'm much more worried today. In 2007, I wasn't worried about the world. I wasn't worried about geopolitical. And I never want to be part of the lunatic fringe, but if people aren't concerned about geopolitics right now, they're not paying attention"

Unexpected Chart Of The Day: USA Default Risk Tumbles As Trump Gains

While every establishment politician and mainstream media pundit has proclaimed the end of the world as we know it if Donald Trump were to win next week, it appears - perhaps throwing off the narrative of exactly who is the "most dangerous" candidate - that the risk of the US Dollar has dropped along with Trump's resurgence...

"The Frightening Thing Is People Don't Know They're Selling Insurance" - An Interview With An Ex-Canyon CDS Trader

“the world has now shifted completely in the opposite direction, that people are selling that insurance over and over and over again, not recognizing what they're actually selling, and not necessarily conducting an evaluation of, are there cheaper ways to sell that-- or more expensive ways to sell that same insurance, effectively capturing more premium for doing the same thing.

Valeant Soars On Report It May Sell Salix For $10 Billion

Yesterday, near the close of trading, Valeant plunged on a report a criminal accounting probe was focusing on the company's former CEO and CFO. Today, near the close of trading, VRX soared after a WSJ report that the company is in talks to sell its Salix stomach-drug business to Takeda for about $10 billion, and added that another bidder is also "circling."