If I read this graphic correctly, 1/3 of Italy’s banks are one notch away from losing investment grade status and 80 % of French banks

ECB is issuing an alarming forecasts of a surge in insolvency across Euro area. ecb.europa.eu/pub/financial-… ECB far more alarmist than Fed at the point. See

"Biden administration faces a housing booby trap The battle for Fannie Mae and Freddie Mac is heating up" Dizard as always brilliant! ft.com/content/b2c198… https://t.co/rWwBmFDuCQ