The Italian Smashage Is Getting Worse

We really hope this debt ceiling issue is resolved soon, so that we can get back to focusing full-time on the ACTUAL economic crisis raging out there, which is in Europe.

Just be aware that it’s happening… today.

Italy — which should arguably be the world’s #1 sovereign worry, given its size and weakness — is getting smashed.

The big FTSE MIB index is down about 1.9% today, with yields blowing out. (Bear in mind this comes after a 2.9% drop yesterday). Sans-debt ceiling, this would easily be the biggest economic story in the world.


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