CDS are a mess
You saw my comments in the last post on the damage Europe has done in making a mockery of the sovereign CDS market. The Italy situation is worse because of this. Below is a video clip from Monday night of the Lang & O’Leary Exchange, a well-regarded business show in Canada. I am on near the tail end of the show talking about Credit Default Swaps.
Catch my commentary after the 47th minute. Hopefully, I wasn’t too apocalyptic but I am definitely concerned. 100%.
(click on picture for link)