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Black Friday? Fighting the Bubble One Default at a Time

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Marla Singer
Zero Hedge
Friday, Nov 27th, 2009

A brutal risk selloff as Dubai seems to have sparked the “sudden” realization that, you know, stimulus just ain’t going to do it all.

Sovereign CDS spreads have been widening since the news, rescheduled conference calls did little for investor confidence and U.S. equity futures have crashed (midnight ET was exciting!) on the order of 4% with crude futures down 5%.  Treasury futures have spiked in inverted sympathy (flight to safety).  Spot gold, which was as high as $1191 hours ago has sunk to ~$1140, all metals appear to be mimicking the behavior with London Lead down over 8%.  Japan has is expected to intervene following the Yen’s 14 year high mark.  The Swiss National Bank is rumored to be intervening continually to un-defend the Swiss Franc.  Quite a morning so far, and it’s just beginning.

This article was posted: Friday, November 27, 2009 at 5:11 am

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