Archive - Nov 4, 2012

A week ago we reported that as part of the surge in the Italian anti-austerity movement, the time had come for none other than that forced exile (courtesy of the ECB's bond yield tactics) whose political career ended prematurely precisely one year ago, Silvio Berlusconi, to announce not only his political ambitions, but his desire for vengeance when he made it clear he is willing and ready to scuttle Mario Monti's cabinet. It appears that in the April elections, Silvio may now be challenged by none other than Ferrari head, Luca de Montezomolo, boss of the Scuderia, who Ansa reports "has hinted he might rethink his recent No to stepping into the political ring after April elections."

We had ended the week on Fri 26 being “On the Road to Nowhere”, which essentially wasn’t that wrong a call, as markets got stuck on Sandy’s path.

So, as last week: Nothing new. Spailout OMT still not in play – and might not be this year's business. Officially. Hmmm... Yeah. Sure. We'll see. Greece, haggling not over.

Big Disconnect between Risk and Reality, Equities and Bonds.