The last few days in Europe have been marked by a bounce off the post-FOMC plunge lows (just as in the US) but today's weak close in all the highest-beta most-levered momo trades suggests things are not done with yet. As the following two charts show, once the 'taper' uncertainty began (and US Treasuries started to leak), Europe has been (almost) a one-way street worse...
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and European banks remain stuck at 10-month lows...
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Charts: Bloomberg