Credit Suisse and CDS Spreads Are a Rounding Area

Don't expect this storm to pass quickly in any scenario. Credit markets won't settle down until the Fed either slows that home or something breaks and they have to invoke full-scale easing. Don't even look at equity markets right now, people. They're going to go up and down like a toilet seat because vol is high. One day of a rally, everyone feels good. Guess what? The next day and you feel like a chump again.