. . .  crawling in the dirt, and for all the little piggies, life  is getting worse !  Credit Default Swaps of the Portugal, Ireland, Italy, Greece and Spain:

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click for larger piig chart

Courtesy of Bianco Research

Category: Bailouts, Credit, Economy

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

9 Responses to “CDS: Have You Seen the Little PIIGies . . .”

  1. Look mom! We’re going to the moon!

  2. DeDude says:

    Slowly crawling to the slaughter-house.

  3. swmnguy says:

    You’d think Italian CDS’s would have risen over the past 18 months.

  4. Adding to the comments, the Greek CDS move, on the chart, screws it all visually for the other countries.

    Italian CDS had quite a few good runs… from 50 to 150, then back down to below 100.. then back up to 250.. then back down again to 130.. and on and on.

    If you add the carry, those upswings occurred quite quickly.. 3-5m holding the CDS @ 130bps = 30-60bp costs in carry + profits of 50-100bp moves * 4.5y duration.. and you get a nice 5-10:1 pay-out.

    We’re not trying to hit the bulls eye here, just the repricing of default risk. Then out. And still.

  5. DL says:

    I wonder what CDS prices on U.S. debt will be, ten years from now.

  6. JohnnyVee says:

    I can’t wait for travel to Europe to be dirt cheap, again.

  7. swmnguy says:

    “Intrigued Trader”: Interesting points. I wasn’t thinking of the chart from a trading perspective. I was just looking at the lines on the graph and thinking about recent media coverage and political controversies. Your comments gave me a basis for a fun few minutes of looking at that info anew. Thanks.

  8. “Mi casa, su casa” Swmnguy.