After a one-week holiday hiatus, Goldman’s David Kostin and crew are back with their weekly “US Kickstart” note in which the bank details conversations they’ve
Whatever you do, make sure you keep in mind that the worldâ€™s worst market timer (the government) just cried â€œUncle.â€ The proper trade is to assume they will make a mess. A big one.
“If markets turn more negative on the possibility of deposit flights out of the French banking system or on Italian BTPs and banks, the currency can fall more in the absence of a decisive response from the ECB. But, if the ECB were to show a strong hand in the market, buying sovereign debt, this perception could change.”