Just hit Bloomberg: JPMorgan denies it published a report Italy is likely to default which is what Italian newspaper La Reppublica had claimed earlier.... well, you know what they say about denial. CDS at 198-203... Just a reminder - repudiation is a credit event under ISDA.
March 6 (Bloomberg) -- JPMorgan Chase & Co. said it asked Italy’s securities market watchdog Consob to investigate a rumor related to the stability of the country’s finances. The firm also disputes it is marketing a product which implies a negative view on the country’s sovereign debt, JPMorgan said in an e-mailed statement today.
On the other hand, it would be ironic if Italy does default one of these days... just saying.
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