Monthly Archives: September 2018

Timeo Romanos et Dona ferentes

The spread of 10 year Italian Government Bonds (BTPs) over Euribor has widened above 230bp. BTPs trade at 280bps over bunds, and perhaps much more surprisingly they trade at 130pbs over Portuguese Government Bonds (for if there is a credit … Continue reading

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Boardroom Shuffles at Spanish Banks

In a surprise move to those who haven’t been following the story, Banco Santander today has appointed Andrea Orcel as the new CEO. Mr Orcel comes from UBS where he had recently led the investment banking division. For years he … Continue reading

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