And Now We Need To Come Back To Italy, Which Is Getting Obliterated

italy rome collisseum

Photo: Wikimedia Commons

This morning we started off with hope of a good jobs report, while also noting that Italy was lagging other markets.Then Italy started getting worse.

Then the jobs report turned out to be a disaster.

And now Italy is a total horror show.

The main FTSE MIB index is off 3.5%.

UniCredit, the big bank, is down 7.7%.

Italian short-term debt is surging.

There are all kinds of fears of contagion and concerns that FinMin Tremonti is on the way out. Scary, scary day. Thankfully it’s almost the weekend.

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