Swan Lake – June 21

The euro periphery was rocked today by the rise to power of two populist Eurosceptic political powers, which has called into question the country’s membership in the euro.   Italian 10-year sovereign spreads out 22 bps.   Euro banks weaker

EM

EM relatively stable as Argentina solidifies IMF agreement. Brazil 10-year yield up another 25 bps, and 244 since April 30.

SIFIs

An index of the Global Systemically Important Financial Institutions (G-SIFIs) has  decoupled from the S&P50 and Nasdaq, losing around 18 percent YTD.    Something is not quite right.  Watch this space.

 

Jun21_Global SIFIs

 

SwanLake_Table

Advertisements
This entry was posted in Black Swan Watch, Uncategorized and tagged , . Bookmark the permalink.

One Response to Swan Lake – June 21

  1. Interesting point about the decoupling of those financial institutions.

    On Thu, Jun 21, 2018 at 8:13 PM Global Macro Monitor wrote:

    > macromon posted: “The euro periphery was rocked today by the rise to power > of two populist Eurosceptic political powers, which has called into > question the country’s membership in the euro. Italian 10-year sovereign > spreads out 22 bps. Euro banks weaker EM EM relativ” >

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s