Any of you smooth brains paying attention to what’s happening with Credit Suisse? [Check out what’s happening]( https://twitter.com/dylanleclair_/status/1544715787990081537?s=21&t=3Qwgw6cMR1HnJ7eyG8cthA) with their credit default swaps.
Massive bets coming in on a default. Meanwhile the stock is tanking, ahead of other Euro Banks such as Deutsche Bank ($DB).
If you’re looking for a black swan / Lehman moment, you may have it.
Euro banks facing a host of stressors, from bad loan exposure (ie Archegos) to contracting credit, ECB clawing back COVID proceeds, money laundering, all on top of a massive looming currency crisis. Adding insult to injury, Germany is royally taking it in the ass on natural gas due to Russia, which is approaching an explosive tipping point threading to destroy their economy if not resolved asap.
Time to load up on 🍿 and watch the 💥
Disclosure: Short $CS and adding more.
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