Good thing the SPX was able to take out those highs because trouble is dusting up all around Europe.
The new safe haven in Europe? It was Swiss 2 year notes, I guess everyone came around to their sense, knows who runs the show and bid 2 year bunds in to negative yields, they are paying to lend money! That's a flight to safety, it's happening everywhere around us as the SPX celebrates, but the real deadline is Bersani failed to cobble together a coalition government in Italy, today was the deadline and he failed.
For a while a Goldman Technocrat will probably rule, but new elections and the rising star that is Grillo is set to disrupt not only the deals Italy has struck with the EU, but may indeed be the real "Template" that the EU needs to worry about rather than the Cyprus one.
5 years ago
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