In yesterday morning's Cashin's Comments, UBS's Art Cashin addressed what worries traders these days.
A Greek default has been on everyone's minds lately. But the traders Cashin has talked to think that it's just the tip of the iceberg.
The bigger fear is what happens in the credit default swap (CDS) markets. No one knows how big it is, who the counterparties are, and, worst of all, whether the CDS contracts will actually trigger in what many would consider a default.
Yep, this is a real can of worms involving tens of trillions of dollars. Good luck to all! This story was posted on the businessinsider.com website yesterday...and I thank Washington state reader S.A. for bringing it to my attention. It's worth the read...and the link is here.
