A story on zero hedge that points out a paper was released by EU consultants are promoting the idea that too big to fail should not be a logical assumption or barrier to stern measures. Also that bondholders should share in the losses of future bailouts. The latter notion very unpopular when the Irish situation was dominating headlines a few weeks ago.Here is the link http://www.zerohedge.com/article/portuguese-10-year-bonds-whoooooosh-european-commission-release-consultation-paper-bank-seni
Anyway this has stirred things up quite a bit - Euro currency went below the 200 day moving average and Portuguese and Belgian debt took a sharp plunge. The renewed concern over bank rates caused swap spreads to widen and the front Mar. eurodollar contract has moved several ticks lower. Trading volume is quite large below are additional large flows as of 12:23 p.m.c.s.t.
| Paper | S | 5,000 | EDH9962/9975 c stupid | 6.5 | 9962.5/63 |
| Paper | B/S | 5,000 | EDH9975 call | .25 (cab) | |
| Paper | B | 5,000 | EOF 9912 c | 1 | ^9891.5 |
| Paper | B | 1,000 | EDH1 92/93/95 p fly | 0.5 | N/A |
| Paper | S | 2,000 | EOM 85/80 psrd vs EDM3 67/72 psprd | .5 EDM3 over | N/A |
| Paper | S | 5,000 | EOM 9775 p | 14 | N/A |
| Paper | B | 15,000 | EOM 9800p | 18.5 | N/A |
| Paper | B | 5,000 | EDM1 9950p | 13.5 | N/A |
| CCM | B | 10,000 | EOM 9800 p | 19 | N/A |
| Paper | B | 5,000 | EDH 9912 put | 2.5 | 9959.5/60 |
| Paper | S | 30,000 | EDU 9937.5 strad | 41.5 to 40.5 | 9934 area |
| New Edge | B | 40,000 | EDM1 9900 put | 6.5 | 9948.5 area |
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