Holger Zschaepitz(@Schuldensuehner):Good Morning from Germany, where even the safe haven is getting more expensive to insure. German 5y CDS have risen from 7.5 to 13bps amid higher interest rates and growing fears of another Euro crisis. France’s surge has been far sharper, to 82bps. Market-implied 5y default probabilities: Germany 1.2%, France 7.1%.

Holger Zschaepitz

@Schuldensuehner

Holger Zschäpitz is market maniac @Welt and Author of 'Schulden ohne Sühne?' a book on states' addiction to debt. Pics:

Joined May 2009

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Holger Zschaepitz@Schuldensuehner

2026.10.08 10:02

Good Morning from Germany, where even the safe haven is getting more expensive to insure. German 5y CDS have risen from 7.5 to 13bps amid higher interest rates and growing fears of another Euro crisis. France’s surge has been far sharper, to 82bps. Market-implied 5y default probabilities: Germany 1.2%, France 7.1%.