This morning's 160 point spike in Dow Futures – out of nowhere – was predicated on hopes of an Italian bank bailout. While this may seem like an odd reason to "buy buy buy" US equities, in the new normal, it really is not.. and when put in context, the 'bounce' in EU banks should do more to scare than soften investors' concerns…
Remember the last time headlines hit that Italian banks were to be bailed out (by ECB buying that time)…
Oh and Deutsche Bank hardly blinked…
Still think this is sustainable…
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