Zero Hedge
Thursday, November 24, 2011
From the moment the words left Merkel’s lips this morning that ‘conditions weren’t right’ for euro-bonds and would send ‘completely wrong signal’, risk assets started to crack lower. Both ES and European markets are now well below yesterday’s lows as EURUSD also turns red and sovereign spreads start to break wider (and bear flatten) again.
And European equity and credit markets are diving fast also…
As EURUSD takes out yesterday’s lows…
And European sovereign risk spreads are drifting wider (with Portugal post-downgrade the standout). Belgium is +17bps.
And credit curves are generally flattening as they widen – not a great sign
Charts: Bloomberg
One Response to “Risk Tumbles In Retaliation For Merkel Stubbornness”
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happy thanksgiving to all my fellow patriots….death to the new world order. As you sit down today at your computer and your lavish turkey dinners, think about and pray for our fellow human beings around the globe that do not have a roof over their head, food in their mouth, or a safe place lay down their head and sleep. God help those that have served him, and God help those that have yet come to know him but are searching.
nothing left to talk about….talking’s over