As financial equities are underperforming so we are also seeing the major US banks widening in CDS land - closer and closer to record wides in the case of BofA and GS. Their credit curves are also inverting further as equity catches up to recent weakness.
charts and more,,,,,,,,,,,,,,,,,,
http://www.zerohedge.com/news/major-us-financials-cracking-cds-rerack?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
Just a few reader comments,
GeneMarchbanks
GeneMarchbanks's picture
They're all hedged, it's cool.
MS especially. Also JPM is fine... bought CDS on itself just like GS.
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Wed, 11/23/2011 - 14:23 | 1907833 johngaltfla
johngaltfla's picture
LOL! Hedged with what? Greek CDS?
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Wed, 11/23/2011 - 14:31 | 1907869 Dr. Richard Head
Dr. Richard Head's picture
Hedged with Collateralized Bernanke Beard Trimmings I believe.
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Wed, 11/23/2011 - 14:27 | 1907849 curbyourrisk
curbyourrisk's picture
To bad they were hedged through MF Global.
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Wed, 11/23/2011 - 14:21 | 1907814 hedgeless_horseman
hedgeless_horseman's picture
But Dr. Bernanke just order more stress tests. If we can't rely on the therapeutic value of diagnostics, then what can we rely on?
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Wed, 11/23/2011 - 14:22 | 1907825 GeneMarchbanks
GeneMarchbanks's picture
Mark-to-hallucination?
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Wed, 11/23/2011 - 14:25 | 1907839 hedgeless_horseman
hedgeless_horseman's picture
Unfortunately, this shit is all to real. Mark it zero, Dude.
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Wed, 11/23/2011 - 14:44 | 1907922 iDealMeat
iDealMeat's picture
Mark-to-Masturbation. It's all a big circle jerk after all..
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Wed, 11/23/2011 - 14:24 | 1907836 Amish Hacker
Amish Hacker's picture
The cleansing power of a full system reset?

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.