Market is overpricing risk (update 9) - eveything is bid

Therefor an age all warning sign basically to get out everything (or begin fixing put positions). China says it will prop up the EUR (well not really just rhetoric intervention, but....) , buy Greek 'junk' bonds and help to stabilize Europe. A bad joke especially if it's a refinance job via China's HUGE bubble as it buys up parts of Europe. Frightening. Good example of risk on/risk off China market distortions.