Market Stalls As LCH Announces Margin Hikes On Italian Debt
According the note below from the LCH website, deposit charges on Italian bonds will almost double effective close today (Wednesday November 9th). The details can be found here.
*LCH COMMENTS ON ITALY BOND DEPOSIT CHARGES IN WEBSITE DOCUMENT
LCH Raises Deposit Charge on 10-Yr Bonds to 11.65% From 6.65%
Initial reaction is -5pts in ES and 35pips in EURUSD (breaking back below 1.38).