Gambling Banksters are determined to f**k the world eight ways from Sunday

[marmar]

Swaps Soar on Germany’s ‘Act of Desperation’: Credit Markets
By Shannon D. Harrington and Pierre Paulden


May 19 (Bloomberg) -- Credit-default swaps soared as a move by German Chancellor Angela Merkel to ban speculation on European government bonds with the contracts sparked anxiety among investors about increasing government regulation.

The Markit CDX North America Investment Grade Index Series 14, which investors use to hedge against losses on corporate debt or to speculate on creditworthiness, climbed 12.17 basis points to a mid-price of 120.67 basis points in New York, according to Markit Group Ltd. The increase in the index, which typically rises as investor confidence deteriorates, was the second-largest since March 2009.

Merkel’s coalition is seeking to build momentum on market regulation as German lawmakers prepare to debate a bill authorizing a $1 trillion bailout to backstop the euro. The surprise announcement, done outside the European Union, came after the rescue package failed to prevent a decline in the 16- nation common currency to a four-year low and as banks became increasingly reluctant to lend to one another.

“The market sees an inadequate policy such as this as an act of desperation and a refusal to address the fundamental problems at hand,” said Brian Yelvington, head of fixed-income strategy at broker-dealer Knight Libertas LLC in Greenwich, Connecticut.

Prohibiting speculation in the contracts may cause trading in the market for swaps tied to Europe government bonds to freeze up, possibly increasing borrowing costs or limiting the flow of capital, said Tim Backshall, the chief strategist at Credit Derivatives Research LLC in Walnut Creek, California. ............(more)

The complete piece is at: http://www.bloomberg.com/apps/news?pid=20601087&sid=a5WximiRmWjM&pos=2

[FarCenter]

1. Hedge funds and private equity pools, aided by the banks, are attempting to wreck the euro

Before they can be brought under control.

The eurozone needs to either bring London under control or kick the Brits out of the EU.

The UK is still pressing for Cayman Island and other offshore havens to have full access to the EU markets.

[DJ13]

2. ......

[marmar]

3. If I were that shark, I'd sue you for defamation of character......

:)

[DJ13]

4. My lawyer has advised me to apologize to all sharks

For comparing them to investment brokers.

It was wrong, sharks arent that bad.

[laughingliberal]

5. Rec nt

[wiggs]

6. Hartmann, this morning, was saying that Greece was a trail run for shorting other

bigger countries like Germany, Spain, Portugal, France, and the US.

[marmar]

7. No doubt......All of a sudden there's a great increase in rhetoric about Britain's debt problem.....

Greece was the guinea pig.