CDS

| ZeroHedge

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Spain IS Greece After All: Here Are The Main Outstanding Items Following The Spanish Bailout Submitted by Tyler Durden on 06/09/2012 14:52 -0400 Bank Run Bond Bridgewater CDS Creditors European Central Bank Eurozone Germany Greece Gross Domestic Product Ireland Italy National Debt Nationalization Portugal Sovereign Debt After two years of denials, we finally have the right answer: Spain IS Greece. Only much bigger. So now that the European bailout has moved from Greece, Ireland and Portugal on to the big one, Spain, here are the key outstanding questions.   via Spain IS Greece After All: Here Are The Main Outstanding … Read more

‘s Dallara Seems To Think So

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Greece has fallen out of the headlines in the past few days due to a supposed resolution of the debt deal, but large hurdles still exist.  Managing Director Dallara of the IFF is under the impression that the current plan will be proved a success next week with investors exchanging their current bonds for a 53.5% haircut.  However the success of this exchange requires a 90% participation rate which is a tall order for many of the hedge funds holding Greek debt.  If participation can be raised above 75% but under 90% then Greece will bring the issue to their … Read more

Einhorn Ends 2011 Just Over +2%, Closes FSLR Short, Warns On Asia, Mocks “Lather. Rinse. Repeat” Broken Markets

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Anyone wondering why FSLR just jumped, it is because as was just made known, David Einhorn’s Greenlight has decided to close its FSLR position, after bleeding that particular corpse dry. “Our largest winner by far was our short of First Solar (FSLR) which fell from $130.14 to $33.76 paper share and was the worst performing stock in the S&P 500.” Einhorn also announces that he was among the “evil” hedge funds who dared to provide market clearing transparency and buy CDS on insolvent European governments: “We also did well investing in various credit default swaps on European sovereign debt.” As … Read more