Contagion Spreads To Asia: CDS Update

There are those who may be surprised to find that China is not completely insulated from the latest fun in Europe, America, and all those other places where the ponzi is imploding. To those same people we suggest a casual reading of the following two articles by Bloomberg and MNI - frankly we are too lazy to summarize. As for the market: it already knows whats up. Below is the nth consecutive drift up in most Asian CDS as once again credit predicts and idiots momos react, and after losing a shitload of money, confirm.

CDS 5Y          MID-MKT        

ASIAIG s15     171
SOVX s5         163
CHINA            128
KOREA            151
MALAY            134
THAI               150
PHIL               180
INDO              186
NAM               401
HK                   90
HUTCH            140