"It's a F##king Bloodbath" - European Banking Stocks Collapse As UK Default Risk Spikes
Zero Hedge
Traders are frantic this morning as George Osborne's calming words have done nothing to halt the carnage. From
Italian bankscrashing over 25% to British banks being halted, trading
at record lows, to Deutsche Bank extending its Lehman-esque trend, as
one veteran stock market trader in London said, "it's a f##king
bloodbath, not even Draghi can save this one." The contagion is
spreading however as UK default risk has spiked to 3 year highs and USD liquidty needs are surging with funding markets seeing serious distress.
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