"Don't look for a happy ending. It's not an American story. It's an Irish one."
--Rory Devaney (The Devil's Own)
While it seems to be party time Italian style today in various markets, credit spreads in EU countries continue to widen. For instance, Irish CDS spreads are marking new highs for the move.
Obviously not today's business. But perhaps another case of market myopia.
position in Treasuries, UUP, SH
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Geographically, Ireland is a medium-sized rural island that is slowly but steadily being consumed by sheep.
~Dave Barry
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