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.
Global Macro Monitor 
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” >