Not even the “bankruptcy” word hanging over super-troubled Italian infrastructure giants Atlantia and Autostrade, whose bridge collapsed last year, can get their bonds to reflect any kind of serious risk.
And the year has just started.
Amid a slew of problems.
After peak negative-yield-absurdity in August, bond prices fell – the “bond bloodbath” – and the mountain of bonds with negative yields has plunged by $5 Trillion, or by 30%, despite rate cuts.
NPLs remain dangerously to catastrophically high in Italy, Greece, Portugal, and Cyprus.
The benefit of NIRP: There’s hell to pay – even the ECB admits it.
What to do with those messy banks ignites further tensions.
And the 217 planes that Jet Airways ordered from Boeing?
Italy’s fiscal health is once again in serious decline.
The acquisition created world’s biggest toll-road operator. But it was costly.