European Banks Crash Most In 4 Years As Default Risk Spikes To Pre-Draghi Levels

All the gains post-Draghi's bazooka-est efforts in March have gone as bank credit risk is spiking...Today was the biggest jump in EU bank credit risk in 2 months...

 

And the last 4 weeks have seen the biggest collapse in European banking stocks since April 2012.

 

Having blown his wad in March and been front-run by every Tom, Dick, and Harry trader, "whatever it takes" appears to be failing hard and with nothing left up his sleeves, Mario may not be so super anymore.