November 10th, 2011 16:54:00 GMT

The ebb and flow of a crisis

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1. sovereigns 2. banks 3. ratings agencies Wash, rinse, repeat. The yields go up, the banks suffer losses and the ratings agencies downgrade. It’s a vicious cycle and when you add in the politics and the economic impact, it gets … Continue reading

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November 10th, 2011 13:39:20 GMT

The yo-yo continues

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It looks like a budding ‘risk on’ day as the USD continues taking losses on all sides. The most market-friendly man has been named Greek Prime Minister but talk of a Monti-led Italian govt and no early elections is key. Italian … Continue reading

3 Comments

November 9th, 2011 18:51:09 GMT

Sorting out Italian austerity

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The wildly optimistic hope is that Italian politicians will pass a slate of austerity measures by Sunday. Afterwards, Berlusconi will resign. This sounds so unrealistic that it’s almost insane. Headlines crossed suggesting labor protection laws will be relaxed, that was … Continue reading

2 Comments

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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