A look at the daily chart of front month Euro's gives an indication of the quite volatile situation. This pattern started back on the 15th of June. And hear is a very interesting point - given that the public is not all that willing to back another bail out the reliance on cds and hedging is very pronounced. After yesterdays read it became quite clear how the language involved in CDS contracts, (yesterdays topic was Mortgage related) but same idea, describes what event must occur and who has the exposure and all that. For more on all of this go to: http: //financialfutures.typepad.com/accutic_plus/
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