Salient to Investors:

Nouriel Roubini at NYU writes:

  • Expect Italian elections in early 2014 but sooner is possible.
  • If there is no solution to Italy’s crisis, the spread will rise to 3 percent in a few days and the calm period for Italian stocks will end.
  • Bank stocks will be particularly hard hit and credit costs will continue to rise.
  • The sooner the elections, the worst the damage for bonds.

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