Buongiorno! All Hell Breaks Loose in Italy

We had a better-than-expected ADP report this morning with initial claims at a pretty low 372k for the week (15k below the previous reading).  Not that this is such a big deal in and of itself, but typically we’d get a little bit of a lift off of that type of thing.

But all hell is breaking loose this morning in Italian financial stocks – complete with rumors of an emergency Mario Monti trip to Brussels, a massive sell-off in the euro and halted bank stocks.  Here’s the index of Italian bank stocks via Bloomberg:

Some links below (If. You. Dare!)…

Italy is a Disaster this Morning (Business Insider)

Is it Time for a Breakup of UniCredit?  (Heard on the Street)

Meanwhile, in Europe  (MarketBeat)



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