MBS RECAP: Now That Italy is Old News, You’ll Never Guess Who Moved Markets Today


Posted To: MBS Commentary

With European drama subsiding heading into this week and with yesterday seeing a logical move toward weaker levels, it was fair to be worried about more selling today. After all, Italy-related risks flared-up. Rates fell. Italy risks subsided. So rates should be rising . That's not to say that Italy was the only game in town, but it was the only game anyone was trading or talking about last week. I'd personally been waiting to see who or what would step up and claim the mantle of "market mover" for the current week now that Italy obviously wasn't going to be in the same position of power. Interestingly enough, Italy was first in line to claim that mantle yet again today. This time around, it was a speech from the new Prime Minister that was unapologetic in its populism…(read more)

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