by Mish Shedlock, The Maven:
At the beginning of June, the ECB and EU walked down from targeting Italy with excessive debt procedures. And now, lovey Dovey Christine Lagarde takes over where Mario Draghi left off.
Crucially, for Italy, it’s not a German central banker at the helm.
Happiest Man in Europe
Daniel Lacalle on Twitter
“Italian 10-Year Yield at 1.6%, Salvini must be the happiest man in Europe… Confronts the EU and EC, and sovereign bond yields halve.…
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Expect More Balance Sheet Wonders
Holger Zschaepitz on Twitter
“#ECB balance sheet has jumped by €9.9bn due to a revaluation of Gold reserves to €4,692.6bn, near record high and equal to 40.5% of…
twitter.com
German 10-Year Yield
Holger Zschaepitz on Twitter
“WOW! German 10y yields fall below #ECB deposit rate in historic move as investors bet on policy easing. Move to more deeply negative…
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Long Term Prognosis
Daniel Lacalle on Twitter
“Add half the Eurozone.. https://t.co/r7SajwoGg3”
twitter.com
Changing of the Guard
I agree with the above Tweets by Daniel Lacalle.
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