Photo: David Paleino via flickr
The 10-year yield spread to German Bunds is also blowing out to a new record.
This is serious stuff, obviously. It’s going to either require a lot of hope, or a political decision that’s way harder than raising the debt ceiling, or even bailing out a tiny country like Greece.
What’s more, at the pace ot deterioration we’re seeing right now, it seems like we’re talking a matter of days or weeks before something has to change, and not much longer than that.