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19 European Countries Have Negative 2Y Sovereign Yields (Cyprus – Another One Bites The Dust)

This is a syndicated repost published with the permission of Snake Hole Lounge. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

The Jackson Hole (aka, J-Hole) monetary conference had no sooner ended than one more European country was added to the scroll of countries with negative 2 year sovereign yields.


The latest addition is the island of Cyprus whose Bank of Cyprus just posted a huge loss on bad debt provisions.

(Bloomberg) — Bank of Cyprus reported loss for the second quarter of EU556 million.
2Q total deposits EU16.58 billion
2Q Oper Profit EUR 130M
Projects 2018 EPS EUR 0.40
Sees 2018 Cet 1 >13.0%
Sees No Equity Divident for 2018
Sees Potential AT1 Issuance
CET1 Transitional Ratio at June 30 at 12.3%

I guess ECB’s Mario Draghi will keep the pedal to the metal!


I wonder if Queen’s Freddie Mercury foresaw Cyprus’ banking fiasco?

Here is the ECB’s Mario Draghi telling Cyprus that they have potential for a healthy banking system and positive 2 year sovereign yields.




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