question: are we in a bull or bear market?, page-6

Greek Selloff Shows Rush for Exit Recalling Crisis: Euro Credit

By David Goodman and Eshe Nelson May 19, 2014


Bondholders in Europe just got a wakeup call.

After a four-month rally in euro region debt, yields on Italian and Spanish bonds had their biggest one-day jump in almost a year last week as a selloff that started in Greece spread. With bids evaporating as prices slid, traders poured into derivatives as they scrambled to protect against losses...

http://www.bloomberg.com/news/2014-05-19/greek-selloff-shows-rush-for-exit-recalling-crisis-euro-credit.html

TB, early signs of a 'flight from risk'. Liquidity can quickly evaporate in the rush for cash and relative safety.