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Portugal Plunges To 9-Month Lows, Europe's VIX At 3-Month Highs
Portugal's PSI20 plunged over 3.4% today extending recent losses after its dead-cat-bounce, leaving the index near its lowest since October 2013. Interestingly peripheral bond spreads (and IG/HY credit spreads) compressed while equity markets all dumped across Europe amid concerns of blowback from Russia. As the sell-off accelerated into the close, credit markets also tumbled. An initial rally in financials gave way rapidly as US opened and rumors of G7 statements and Russian retaliation spread. Europe's VIX closed just shy of 18.00 - its highest close since early May. Banco Espirito Santo fell another 10% to record lows ahead of tonight's earnings.
Early gains disappeared for European banks...
Portugal plunged to 9 month lows...
and broad European stocks fell as US GDP (as good as it gets) and Russian warnings sparked selling...
Charts: Bloomberg
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Jeronimo Martins, largest retailer, is also reportinh H1 today. Leaked out, I guess, and not pretty.
But how is Greece doing...Greece is what I want to know....Greece baby...its all about Greece
Ddin't you hear? Greece were solved. At least 3 or 4 times already. Ie, a permanent solution.
Who Cares........Buy the fuckin dip!!!!