- Blood On The Streets Of Europe – Stocks Crash By Most In 4 Years, Bond Risk Surges
by Tyler Durden, www.zerohedge.com
Carnage – everywhere. A surging EUR – as CNH carry traders unwind en masse – has led to an unwind across most risky assets in Europe. This week saw EuroStoxx 600 – the broad index – crash almost 6%, its biggest drop since September 2011. Perhaps most stunningly, Germany’s DAX was the biggest loser – collapsing 7.4% on the week. European bonds are are also seeing risk increase dramatically with Portugal and Italy worst (aside from Greece’s blowout). Europe’s VIX topped 30 this week, as US VIX surges.
Worst weeek for European stocks in 4 years.. (chart top of post)
Led by a complete collapse in DAX…