RE:S&P I’m expecting to Draghi to do nothing. Is he going to make interest rates to be more negative? He’s an Italian and may take the blame for Italy.
A pending Italian bank default hasn’t made the headlines (yet). The majority of Italian and European banks will be reporting earnings late July/early August. Deutsche Bank reports on July 27 (I checked). European Bank stocks have already taken a hit. The question is the impact to the broader market. I think we need to see a pending default to trigger the markets.