Wall Street Webcasting Presents Wells Fargo Securities: Italian Election Results Increase Level of U
Wall Street Webcasting Presents Wells Fargo Securities: Italian Election Results Increase Level of Uncertainty in Europe
NEW YORK--(BUSINESS WIRE)-- Wall Street Webcasting presents exclusive video of Rich Gordon, the highly regarded Fixed Income Market Strategist of Wells Fargo Securities
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:
Wall Street Webcasting
Tracy Lewin, 201-683-2100
KEYWORDS: United States Europe North America New York Italy
The article Wall Street Webcasting Presents Wells Fargo Securities: Italian Election Results Increase Level of Uncertainty in Europe originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.