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Breaking news Spain calls early elections

Bond markets

Nervousness among international investors has sent Spanish government bond yields to their highest level in over a decade. Having fallen below 6% a week ago on relief about the Greek bailout, the yield on 10-year bonds rose again this week to hit 6.15% on Friday morning. Italian yields climbed to 5.93%.

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Spain is on the fast track to a downgrade. Looks like the early announcement of an election call is designed to wrong-foot markets by giving the impression that something is being done.

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I find it all fascinating, no economic skills just believe the Spanish will abandon the austerity measures before other EU countries.

However I did read a article this morning of a greek taxi driver who purchased a taxi plate for €100,000 on the black market, who is now complaining of the deregulation of his trade.

We are living in crazy times.

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Oh! here we go again, you just can't turn your back on Santander.

Five Spanish banks, including the euro zone’s biggest Santander, may also be downgraded.

Seeking Alpha

Wednesday 7:48 AM More on Banco Santander (STD) earnings: Spain remaining a drag on profits had been expected, but of surprise is a surge in problem loans in Brazil. It will likely add to recent alarms about an unsustainable credit binge in that country. Shares -4.9%, underperforming a weak EU banking sector.

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[Global & FX, Financials]

Wednesday 7:37 AM Banco Santander (STD): Q2 EPS of $0.23 after charges misses by $0.11. Net interest income €7.74B (+3.5% Y/Y). Shares -4.6% premarket.

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  • 338 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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