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UK chaos and bond doom loop

The David McWilliams Podcast

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The Donuts of the Italian Bond Market

Italian bond yields are trading on an absolute level. They're about 4.5 percentage points, which is the highest they've been since 2012. On a spread basis, we're about 250 basis points to Germany. Even at the peak of the European financial crisis, European sovereign crisis, that spread got to 500 basis points. So we are actually quite uncomfortable levels now.

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