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FSN: Euro Area Credit Markets – a Brief Update
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
by Pater Tenebrarum
Acting Man
Deceptive Calm Continues
Italy finally has a new prime minister, Enrico Letta, who is expected to be supported both the center-left (its leader Bersani has recently resigned, as he was unable to get the bloc to vote for his choices for the job of president) and Berlusconi’s center-right coalition. Apparently this has given fresh impetus to the buying of peripheral bonds in the euro area. Consequently, credit default swaps and other measures of systemic stress remain subdued. However, there are still technical divergences that must be considered worrisome and inflation expectations in Europe continue to plunge (this is often a precursor to credit stress). Moreover, safe haven debt continues to enjoy a good bid. We ask again, if everything is truly fine, then why is this so? Something obviously does not compute here.
Continue Reading at Acting-Man.com…
2013-04-24 22:00:06
Source: http://silveristhenew.com/2013/04/24/euro-area-credit-markets-a-brief-update/
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