Submitted by Tyler Durden on 11/23/2011 - 11:28 Belgium China Eurozone Sovereign Risk Sovereign Risk
Chatter across European trading desks, since confirmed by the EBA, is that medium- and long-term funding in Europe is now completely frozen. With Rehn still in denial and pointing to the problems in US and China, it seems things just got a little more desperate. Basis swaps at crisis levels, FRA-OIS at crisis levels, European GDP-weighted sovereign risk at all time highs, Belgium and Austria dislocating today, and EURUSD cracking through 1.3350.
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http://www.zerohedge.com/news/european-liquidity-downgraded-ice-carbonite

Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.