Wall Street Webcasting Presents Wells Fargo Securities: Italian Election Results Increase Level of Uncertainty in Europe
Wall Street Webcasting presents exclusive video of Rich Gordon, the
highly regarded Fixed Income Market Strategist of Wells Fargo Securities (NYSE:
WFC). This week Gordon reviews the Italian election results and how
they have already started impacting the economy.
The election results show a divided Italian parliament. Pier
Luigi Bersani won the lower chamber and Silvio Berlusconi made a
comeback, and won a blocking majority in the Senate. The split vote was
seen as a vote against austerity and highlighted the scale of discontent
in a country that is crucial for the future of the euro, as Italy is the
third largest country in the Euro zone.
Following the election, investors moved from risk assets to Treasuries.
The outcome of the election also caused the 10-year to fall by 10 basis
points, the S&P Index to fall by 2%, and the VIX to increase by 480
basis points. Also, crude oil had a sharp sell-off.
To hear Gordon’s theories as to why crude oil had the sharp sell off it
did, tune into Wells Fargo Securities’ newest video.
Please visit the following link to view the video:
http://www.wsw.com/webcast/wav/
