BAML: Italy’s $3 Trillion Debt Load Much More Worrisome Than Domestic $3 Trillion BBB Market
Moody's downgraded its sovereign debt rating for Italy to a notch above junk status, but Bank of America Merrill Lynch holds an uneasy view of the country's debt. In fact, the firm is "much more comfortable" with the $3 trillion BBB-rated U.S. corporate bond market than it is with the almost-$3 trillion BBB-rated Italian sovereign bonds.
Lessons for Italy from Greece
In a report this week, BAML Credit Strategist Hans Mikkelsen and . . .
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