November 9th, 2011 18:22:01 GMT

Here come the favors

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Not entirely sure what it means but I suspect it’s some sort of political favor. Italian President names Mario Monti as senator for life He was seen as a frontrunner to replace Berlusconi.

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November 9th, 2011 18:18:11 GMT

Italian 10s close off the lows

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The final trade in Italian 10-year notes for the day is 7.251% after a high of 7.502% and an open at 6.89%. The spread to Germans ended at +490bps.

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November 9th, 2011 18:13:28 GMT

No help for Italy

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This story contradicts any idea that the EFSF will be extended to Italy. “Financial assistance is not in the cards,” one euro zone official said, adding the euro zone was not even considering extending a precautionary credit line to Rome.

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November 9th, 2011 14:58:12 GMT

The easy way or the hard way

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A second party in Berlusconi’s ruling faction has come out against early elections. This is just stupid. They’re going to force a vote of non-confidence.

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November 9th, 2011 14:41:12 GMT

And the political squabbling begins

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The head of one faction in Berlusconi’s coalition rejects his call for early elections. It’s hard to get a real job out there, you know

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November 9th, 2011 14:39:28 GMT

Italy in trouble, no doubt about it

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10-year spreads over the German benchmark offer another reason to worry. Greece asks for aid: 556 bps Ireland asks for aid: 527 bps Portugal asks for aid: 520 bps Current German/Italian spread: 555 bps (down from the high of 575 … Continue reading

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November 9th, 2011 13:33:16 GMT

Why 7% matters

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A little something for the bond noobs and on the implications of 7% Italian bond yields. The ECB buying looks to be helping with 10s down to 7.36% from the 7.50% high from 90 minutes ago. Someone at the Bundesbank … Continue reading

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November 9th, 2011 13:04:51 GMT

French spread hit record, ECB buying BTPs

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France’s 10-year spread over the German benchmark widened 17 bps today to +146. Reuters is reporting that the ECB is aggressively buying Italian bonds on the secondary market, particularly in the 2yr-10yr space.

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