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Italian Spreads To Worst In 3 Months Amid Sideways European Day
Europe's VIX limped sideways and broadly speaking European stock markets also did the same on a relatively slow day. Intriguingly Spain's equity market was the best performer today (some high beta grab?) as Italy's was the worst -0.75% as the disconnect between the two grows in CDS markets also. Italian bond spreads pushed 8bps wider to 346bps over Bunds - a new three-month high. Credit and equity markets are moving in lockstep but chatter is that activity is quite mutes ahead of the EC meetings and their streams of useless anecdote due anytime. EURUSD is holding its lows as Europe closes - back under 1.2990.
Charts: Bloomberg
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Funny how we talk about the europe vs german bonds spread... who's gonna buy german stuff when all of europe is bankrupt?? America? China? Japan? Russia? LOL
German bunds won't be worth much when all of europe and the rest of the world is kaput.
The world has been kaput since 2008. They will print, silly. The problem won't be a bid for bunds, it will be a worthless currency.
I had an Italian spread once...she was a real treat. One of the best spreads I ever tasted.
Must've been hairy on the Tick chart tho.
lol lucky you
Bag 'em & tag 'em. Draghi's flapping gums are a threat to EUR - watch out below!
Remember: Cheaper Mercedes.
And yet all the douchbag central banksters keep buying the U.S. equity markets. When the $ and the markets are bid at the same time you know there's some "backroom" b/s going on. The European banksters unloading their Friday swaps back into the U.S. equity markets.
Paschi about to explode?
Sideways Europe? That oughta be good for +.5% on our exchanges without the fade.
Be on notice. http://www.forexlive.com/blog/2013/03/04/talk-of-italian-downgrade-by-sp...
Looks like someone is going to be buying a whole lot more sovereign debt with funny money.
How'd you like to be the person to have to explain that you believed that they were going to be paid back when you purchased that load of shit.
For those on the earlier threads about Italy here's a belated link for those interested in delving into the country, specically ancient Rome by Mary Beard.
http://www.youtube.com/watch?v=1NdaBCfoK3o