European Stocks Plunge, Led By Germany (And Banks)

Monday, March 3, 2014
By Paul Martin

by Tyler Durden

Perhaps surprisingly, Germany’s DAX index was the weakest in Europe today as the Russia-Ukraine debacle escalates, underperforming high-beta “safe-havens” like Spain and Italy (which also fell rather notably). Despite the 2.5% to 3% declines across all major European equity markets, sovereign bond spreads barely budged! Seriously, Italian and Spanish bond spread rose a mere 5bps on the day. European banks collapsed 3.6%, its biggest drop in 6 months. EURCHF continues to collapse, now at 14 month lows (-200 pips today) as 2Y Swiss rates close at -11.4bps (the lows of 2014).

The Rest…HERE

Leave a Reply

Join the revolution in 2018. Revolution Radio is 100% volunteer ran. Any contributions are greatly appreciated. God bless!

Follow us on Twitter