Italy is getting smoked by the UK at both the Olympics and in real stock market returns – Italy’s MIB Index leads losers again this morning -1.1%, taking its crash back down to -30.8% from the 2015 peak in the Global Equity Bubble… #EuropeImploding (economically) remains a Top 3 Macro Theme @Hedgeye.
Meanwhile, in Germany...
It's been a rough year for European equity markets.
Outside the UK's FTSE, in the past year, European equity market drawdowns range from the German DAX's -3.4% to -28.98% for Italy's FTSE MIB.
Editor's Note: The snippet above is from a note written by Hedgeye CEO Keith McCullough and sent to subscribers this morning. Click here to learn more.