Those Greek credit default swaps?

Earlier this week we highlighted how Greek credit default swaps had tightened (signalling lower jitters on Greek credit) and that tightening had helped contribute to the firmer euro…

Today? Prices gapped 8.2% wider, to 1390 basis points. Throw sovereign debt concerns on to the sudden woes for the euro, along with lower interest rates and an apparent rupture in the commodities bubble.