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It seems like ages ago that the Italian election result caused markets to spasm and volatility to surge.
In fact, it was just on Monday, and by the end of the week, the event had largely been forgotten by the global markets (although Italian markets continue to underperform, as headlines reveal the difficulty the parties will have going forward in their attempt to form a government). But it would be a mistake [...] German Finance Minister Wolfgang Schaeuble declared bond traders all wrong in driving up Spanish borrowing costs to unsustainable levels. After issuing the statement late yesterday, Schaeuble, 69, went off duty for a three-week vacation. It’s summertime in Europe, and like last year, borrowing costs are rising as investors fret over the fate of the 17- nation euro area. Most government leaders are heading to their favorite beaches, mountains and lakes to take a break [...] European politics has become a giant Jenga game. Since June 2010 governments have fallen in the Netherlands, Slovakia, Belgium, Ireland, Finland, Portugal, Slovenia, Greece and Italy. Here’s How You’ll Know If The Financial System Is About To Implode Yesterday we mentioned the big spasm of “end of the world” analyst notes, as suddenly more and more people on Wall Street conclude that [...] European politics has become a giant Jenga game. Since June 2010 governments have fallen in the Netherlands, Slovakia, Belgium, Ireland, Finland, Portugal, Slovenia, Greece and Italy. Here’s How You’ll Know If The Financial System Is About To Implode Yesterday we mentioned the big spasm of “end of the world” analyst notes, as suddenly more and more people on Wall Street conclude that [...] If you like your Wall Street analysis with a heavy dollop of rapture and Armageddon, today was the day for you.
Blame the weighty issues of the day (Europe, mostly), and yesterday’s big selloff for the spasm of bearishness. It started off with Nomura’s Bob Janjuah. He said that any talk of the ECB saving Europe was a mere pipedream, and that if the ECB did go whole-hog buying up peripheral debt [...] by Inflation Trader, SA Like all traders who have done it for long enough, I have several habits that I have developed over the years to cope with winning and losing streaks. For example, if I look at a chart and I really think it looks bullish, I will sometimes turn around and look at it upside-down; if in that position I think [...] |
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