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Spanish Yields Blow Out Amid Italy Contagion As Italian Banks Scramble For Dollar Funding
Spanish Yields Blow Out Amid Italy Contagion As Italian Banks Scramble For Dollar Funding Contagion from the recent surge in Italian yields has spread, and is hitting Spanish 10Y yields which over the past 3 days have blown out from 1.65% to as high as 1.82% this morning, before paring some of the move, printing […]
“One Size Fits Germany” Math Impossibility, Get Your Money Out of Italy Now!
“One Size Fits Germany” Math Impossibility, Get Your Money Out of Italy Now! Italy, on the Euro, has a currency that is 9% too high. Germany, on the Euro, has a currency that is 11% too low. There was much discussion yesterday about the US Treasury report that determined China was not a currency manipulator. […]
More Italians Move Savings To Switzerland As Fears Of Banking “Doom Loop” Intensify
More Italians Move Savings To Switzerland As Fears Of Banking “Doom Loop” Intensify With the euro weakening against the Swiss franc (recently trading at session lows of 1.14) and Italian stocks and bonds tumbling once again on reports that the European Commission is planning to reject the Italian draft budget plan submitted earlier this week […]
Juncker Warns ‘The EU Cannot Survive Without Italy’
Juncker Warns ‘The EU Cannot Survive Without Italy’ Ignoring warnings from the European Commission, the ECB and the European Commission (as well as practically every other supranational organization in Europe), the populist-led Italian government managed to submit their draft budget to the Commission before a midnight deadline – an outcome that was cheered by BTP […]
The ECB on the Verge of Collapse?
The ECB on the Verge of Collapse? The European Central Bank (ECB) will NOT aid Italy with an EU rescue program if the country or its banks are in financial turmoil. The Italian government is taking the view that Italy has become an “occupied” country and that Germany has conquered Europe imposing austerity and […]
Italy Declares War on Merkel and the EU
Italy Declares War on Merkel and the EU If there were ever any doubts that the leaders of the Euroskeptic coalition that now runs Italy has a plan to defy the European Union its proposed budget should quell them. Both Deputy Prime Ministers, Luigi Di Maio of Five Star Movement and Matteo Salvini of The […]
ECB Hands Italy An Ultimatum: ‘Obey EU Budget Rules Or We Won’t Save You’
ECB Hands Italy An Ultimatum: ‘Obey EU Budget Rules Or We Won’t Save You’ With the Washington Post stepping up to put a floor under US stocks Thursday afternoon by reporting that President Trump would meet Chinese President Xi Jinping at next month’s G-20 summit (while the headline soothed the market, it doesn’t change the […]
Lega Popularity Rises With Each EU Confrontation: Major Event Coming
Lega Popularity Rises With Each EU Confrontation: Major Event Coming The EU conspiracy to oust Berlusconi succeeded because his popularity was on the skids. Lega is a far different story. Eurointelligence has an interesting on rising Italian yields, Italy’s budget deficit, and the inability of the EU and ECB to do any thing about it. […]
Trader: Italy’s Situation Is Truly Unprecedented
Trader: Italy’s Situation Is Truly Unprecedented If Italy is going to avoid a full-blown euro zone debt crisis that’s capable of causing turmoil in global financial markets, communication will be key. Much of the investor complacency toward the threat from Italy’s debt crisis is the fallacy that worse scenarios have been survived elsewhere before. Let’s […]
Italian Stocks, Bonds Collapse After EU Rejects Rome’s Budget Plans
Italian Stocks, Bonds Collapse After EU Rejects Rome’s Budget Plans Italian stocks tumbled with the FTSE MIB dropping 2.3% – the worst performer among major European markets on Monday – and hitting its lowest level since April 2017, while the country’s bonds plunged to the lowest level since February 2014 amid what now appears to […]
Italy’s Debt Crisis Flares Up, Banks Get Hit, as Showdown with the EU Intensifies
Italy’s Debt Crisis Flares Up, Banks Get Hit, as Showdown with the EU Intensifies Who will blink first? A serious showdown is brewing in the Eurozone as Italy’s anti-establishment coalition government takes on the EU establishment in a struggle that could have major ramifications for Europe’s monetary union. The cause of the discord is the […]
Think You’re Prepared For The Next Crisis? Think Again.
BLOG Think You’re Prepared For The Next Crisis? Think Again. Even the best-laid preparations have failure points No plan of operations extends with any certainty beyond the first contact with the main hostile force. ~ Helmuth von Moltke the Elder Everybody has a plan until they get punched in the mouth. ~ Mike Tyson Scottish […]
Greece Planning Bad Debt Bailout For Its Banks After Market Crash
Greece Planning Bad Debt Bailout For Its Banks After Market Crash It seems like it was just yesterday that Greek banks, which carry some €89BN of bad loans on their balance sheets, passed the ECB’s latest confidence building exercise, known as the “stress test.” In retrospect that may have been premature, because as Bloomberg reports, […]
