DAVID KOTOK: LIBOR-Gate Will Take Down Many More Bankers, And The Claims Will Spiral Into The Trillions

Markets reacted to this crazy week of discredited, ADP-based employment forecasts, LIBOR revelations and central bank fizzle.  The result is plain ugly. In Europe, post-ECB, credit spreads widened.  Good-guy yields declined; bad-guy yields rose.  See our updated EU contagion series at www.cumber.com.  Note how Swiss yields are negative until the 5-year maturity (which is a whopping 7 basis...