The bazooka is seemingly being readied on Friday afternoon:
RTRS-ECB READY TO BUY ITALIAN, SPANISH BONDS IF BERLUSCONI COMMITS TO BRING FORWARD SPECIFIC REFORMS -SOURCES
RTRS-ECB EXPECTS ITALY TO FAST-TRACK WELFARE REFORM, FISCAL RULE FOR BOND PURCHASES -SOURCES CLOSE TO TALKS
RTRS-EU LEADERS APPLYING INTENSIVE PRESSURE ON BERLUSCONI TO MAKE ANNOUNCEMENT -SOURCES
Updates to follow. Looks like there are early signs of a “Berlusconi Bounce” (which conjures terrible images), but it’s been a volatile day:
Berlusconi statement expected soon, according to newsroom sources.
Stay tuned.
Fast markets. Don’t Cha love em?