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

This is a syndicated repost courtesy of Snake Hole Lounge. To view original, click here. Reposted with permission.

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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