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  • Commenting on today's sheer market chaos as the US and UK return from holiday, Bloomberg writes that "fixed-income markets have descended into panic amid mounting concern over the risk of Italy leaving the euro or leading to its break-up" and while Italy is suffering the biggest losses in peripheral debt, core bonds and Treasuries are spiking higher.For those who stayed away from market news over the holiday weekend, this is what happened and why we are here today: Italy PM-designate Conte gave up on efforts of forming a government after...
    Authored by Don Quijones via WolfStreet.com,“Doom loop” begins to exact its pound of flesh.Risk. Exposure. Contagion. These are three words we’re likely to hear more and more in relation to Europe, as the Eurozone’s debt crisis returns.On Friday, Italy’s 10-year risk premium - the spread between Italian ten-year bond yields and their German counterparts — surged almost 20 basis points to 212 basis points. This was the highest level since May 2017, when a number of Italy’s banks, including third biggest bank Monte dei Paschi di Siena (MPS), were on the brink...
    MILAN, Feb 22 (Reuters) - Intesa Sanpaolo is planning to refinance in full 11 billion euros ($14 billion) in wholesale bonds coming to maturity in 2018,......
    Authored by Kevin Muir via The Macro Tourist blog,It seems like everyday we get another headline about the ever increasing short European equity bet from the world’s largest hedge fund. I can’t figure out why Ray Dalio’s Bridgewater needs to disclose their massive European equity position, but there can be no denying that they are all-in.[Post publication edit: a couple much more knowledgeable readers have been kind enough to inform me that in Europe, short sales need to be reported much like long positions do in the US through 13F...
    Last October, Italy's government was angry when the world's largest hedge fund, Ray Dalio's Bridgewater unveiled it had amassed a sizable  $713 million short against Italian financial stocks, its biggest disclosed bearish bet in Europe.Then last week, and just one month before Italy's March 4 elections - which the broader market stubbornly refuses to acknowledge are a risk factor - Bridgewater tripled down on its bearish bets against Italian banks and insurers, making the position the largest thematic short carried by the world's biggest hedge fund.As we reported last Thursday,...
    VICENZA, Italy, Feb 8 (Reuters) - An Italian judge has thrown out a request to bring legal proceedings against Intesa Sanpaolo in a case revolving around......
    By Valentina Za and Gianluca SemeraroMILAN, Feb 6 (Reuters) - Italy's Intesa SanPaolo pledged to halve soured loans under a new four-year plan to tackle......
    It's a bloodbath, with the Dow set to open 750 points lower thanks to the +377 fair value...... but it could have been much worse, with S&P futures actually trading toward the highs of the overnight session after tumbling an additional 3.5% from Monday's close, as risk assets around the world crashed then modestly rebounded even as traders remain on edge over what the implosion in the vol complex means for everyone.World stock markets nosedived for a fourth day running on Tuesday, having seen $4 trillion wiped off from what...
    MILAN (AP) — Italian bank Intesa SanPaolo says that it will consider partnership with a big asset manager as part of it new five-year business plan. The bank on Tuesday laid out an ambitious plan that calls for earnings of 6 billion euros ($7.4 billion) by 2021, up from 3.8 billion euros last year, as […]...
    MILAN, Feb 6 (Reuters) - Intesa SanPaolo set an ambitious goal to cut bad debts under a new business plan unveiled on Tuesday that targets 6 billion euros......

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