Derivatives are a $1 Quadrillion “Ticking Time Bomb”
That didn’t take long did it? I of course am speaking
of the second overnight and global meltdown of the credit markets …in
the last four business days! Before getting into this topic which I
believe will soon be seen in retrospect and by historians far into the
future as “THE” trigger event.
Just as we saw last Wed. night/Thurs. wee hours,
credit markets again melted down overnight. The following charts
clearly illustrate this.
Bonds…
Charts: Bloomberg
…But wait, just as last Thursday, credit again reversed so, …no harm no foul?