In Italy: Meltdown

In Italy: Meltdown

When it comes to Italy, Tuesday is a "oh, so you thought yesterday was bad?", type of deal. If thin liquidity on account of the U.S.. and U.K. holidays was responsible for choppy price action in BTPs on Monday, well then I guess today is just folks who weren't around yesterday chasing things lower, but whatever the case, things are bad. Specifically, 2-year yields surged some 150bps and no, that is not a typo. Considering the starting point, this is pretty astounding: That's the biggest one
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