Having soared ridiculously (25% off Tuesday lows) following its dip after the Italy referendum ‘no’ vote,
BMPS shares are now down for the week -after being up over 15% following the Italy vote…
And BMPS sub bonds have collapsed, proving once again that this market is clueless… after bouncing on Draghi’s dovishly hawkish taper/extension.
The sub bonds involved in the debt-for-equity swap have colapsed 1000-1500bps on local platforms.
Perhaps Draghi’s omniptence is questionable after all?