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Draghi ‘Put’ Steadies Stocks As Italian Banking System Collapses
Thursday, December 8, 2016 1:12
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by Tyler Durden
The Draghi put is still alive – or at least that’s what the market seems to think, judging by the response to the Italian vote outcome.
The Plunge Protection Team was very evident at the European open…
But as Bloomberg notes, while a rejection of Renzi’s reform proposals was expected, political instability and uncertainty overthe fate of the country’s troubled banks aren’t fully priced in, and bank stocks are tumbling (after a panic bid at the open)…
[more…]
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Source: http://www.philosophers-stone.co.uk/?p=16314
