New Governments, Same Problems

Markets failed to get a lasting boost from change in EZ governments; dollar broadly higher into open. Italy auction met with decent response, but higher yields nonetheless ; change in governments no panacea in EZ. Japan’s preliminary Q3…

Dancing with Contagion

Markets have shifted back to crisis mode amid uncertainty over Italian economic reforms. Three likely scenarios remain after Berlusconi’s upcoming departure; Italian 10-year above 7%. UK September trade data unexpectedly widened, on…

Italian Politics in the Spotlight

European shares are rebounding after a two-day decline; dollar is mostly higher in G10. Italian politics remains front and center ahead of budget vote; UK outlook remains sluggish. With US calendar light, markets likely to focus on Fed…

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