Saw this comment on the FT Alphaville. Thought it was poignant (emphasis mine):
Spain CDS spreads will be 500bps unless we have a federal states of europe in pretty quick measure (which will not happen!)
Those with the privilege of having $ will just pick off the Euro countries one by one.
People have always said do not fight the fed, I have never heard someone saying "don't fight the ECB"
As an aside: Portugal also came out and said they will need NO money. Always a bad sign when companies or countries try too hard to quell fear.
This is my effort to help fit the pieces together to get a better picture of the capital markets.
“It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.”
No comments:
Post a Comment