As Stocks Surge On Rumor Of Additional QE Measures, Someone Forgot To Tell Europe It Is Fixed: CDS Rerack

Even as stocks surge on the back of the latest rumor that yet another perpetually wrong Medley report has been released and states that the Fed may cut the IOER to zero in addition to Operation Twist (we have not seen the report nor have any interest in putting any faith in a "think tank" work product), someone has apparently forgotten to tell Europe it is all filed. Here is the CDS rerack, which unfortunately shows that this latest stock ramp is to be faded, especially since QE3-666 are already priced in, and will all eventually fail.

ITALY                 497/507  +34                       
SPAIN                 423/433  +13                                
PORTUGAL         1220/1280 +137                           
IRELAND             900/960  +75                      
GREECE                54/58  +5                                                                                                            
BELGIUM            298/308  +14                              
FRANCE               189/192  +13                        
AUSTRIA             149/157  +14                              
UK                       83/86  +4                    
GERMANY             87/90  +5