"The Markit iTraxx SovX CEEMEA contains a basket of 15 sovereigns from Central and Eastern Europe as well as the Middle East. Italy’s CDS spread is now wider than all but one of them – Ukraine.
Looking at the Markit CDX.EM, only Argentina, and once again the Ukraine, can offer chunkier spreads. Outer limits, indeed.
It is, of course, not just Italy that has moved significantly wider. As the chart below shows, Spain had been wider than its benchmark index for some time. Italy, meanwhile, punched through the index and then punched through Spain. And of course no such chart would be complete these days without the core EFSF guarantors, France and Germany..."
at http://ftalphaville.ft.com/blog/2011/09/21/682301/italy-bite-sized-cds-taste-the-volatility/
Looking at the Markit CDX.EM, only Argentina, and once again the Ukraine, can offer chunkier spreads. Outer limits, indeed.
It is, of course, not just Italy that has moved significantly wider. As the chart below shows, Spain had been wider than its benchmark index for some time. Italy, meanwhile, punched through the index and then punched through Spain. And of course no such chart would be complete these days without the core EFSF guarantors, France and Germany..."
at http://ftalphaville.ft.com/blog/2011/09/21/682301/italy-bite-sized-cds-taste-the-volatility/
