Chapter 927 The first blow

   Leaving aside the Soros side, just after Jiang Shan publicly appeared at the auction site of Italian national debt, capital markets all over the world smelled a conspiracy.

   During the sterling crisis in 1992 and the Asian currency crisis in 1997, Soros was the first to stand up and stand up, which in turn drove capital from all over the world to attack the currencies of these countries, and finally achieved ideal results. This is the herd effect in the capital market.

   For the current international capital, Soros may not have much appeal. The Quantum Fund was replaced by the Tianyu Fund, a new force that appeared almost suddenly to outsiders. But in the upstream capital circles in Europe and America, the name of Tianyu Fund has long been known.

This time Tianyu Fund made a high-profile appearance, and there are generally two opinions among these capitals: one is that Tianyu Fund wants to use the power of global capital to achieve the purpose of smashing the Italian or Spanish national bond market; the other is that Tianyu Fund wants to Use this action to act against the euro.

   Regardless of which of these two ideas is correct, many capitals have at least reached a consensus on a certain point, that is, whether it is the capital market of Spain or Italy, or even the euro market, there will be violent fluctuations.

  As long as there is volatility, it means that there is a possibility of income. Of course, there is also the possibility of loss.

   Soon, capital around the world began to act.

On the day Tianyu Fund appeared, during European intraday trading hours, Italian five-year government bonds rose by 23 basis points, and the yield on ten-year government bonds rose by 19 basis points. Related CDS prices rose to varying degrees. , the prices of bonds all fell to varying degrees, and the market once formed selling pressure. However, there was a rebound at the end of the market, narrowing the decline to a certain extent.

  However, in the next two trading days, the prices of government bonds of these two maturities continued to fall. Although the range was not large, they fell by 5% of the face value for three consecutive days, making the market in a rather tense state.

   At the same time, the Italian stock market also fell to a certain extent. The FTMIB three-day cumulative index fell by 2.25%, and the trading volume also showed a sharp decline, showing investors' wait-and-see attitude towards the market.

   At the same time, a similar situation occurred in neighboring Spain.

However, all this is not the end. Three days later, the rating agency Standard & Poor’s issued a report, downgrading Italy’s long-term and short-term sovereign credit ratings from BBB/A-2 to BBB-/A-3, which is only one month lower than the “junk” rating. One grade higher.

  As the third largest economy in the euro zone, the downgrade of Italy's rating is undoubtedly a major blow to the country's government. Standard & Poor's pointed out in the report that the Italian economy is being plagued by many unfavorable factors such as high unemployment, declining demand in neighboring European countries, and insufficient domestic consumption.

   In addition, Standard & Poor's also raised Ireland's rating in the report, which is the second time that Standard & Poor's has raised Ireland's sovereign debt rating in nearly six months. Although five notches below the top AAA rating, an A rating with a stable outlook is still quite satisfactory.

  As soon as this statement with a clear attitude was issued, it immediately caused an uproar in the market.

Although it is already Friday, the Italian side seems to have made sufficient preparations for this. They announced through the court in the southern town of Trani that they would sue officials from the rating agencies Standard & Poor's and Fitch, saying that they had separated during the European debt crisis. Downgrade Italy's sovereign credit rating, suspected of market manipulation.

In addition to legal threats, Italy's economic minister also publicly stood up and expressed dissatisfaction with S&P's approach, "Italy's reform plan has achieved positive results...How fast is the reform to produce the desired effect? It also needs to be considered ... we are very determined to move forward with our reform program, which is clearly reflected in the labor market reforms we have adopted. So we have a different view (with S&P)."

  He also said that it is unfair to adjust Italy's credit rating to this point.

  The two sides met each other almost immediately. This news immediately attracted the attention of the whole world, and more and more people turned their attention to Italy.

   On the other side, affected by the national debt of Italy and Spain, the euro also fell to varying degrees.

  …

   "How can I help you now?"

Ivana looked at Zhong Shi with a complex expression. The man in front of her was able to fluctuate the global financial market with just one news. She was extremely shocked by this magical power, even though she had already had a clue about Zhong Shi's ability. Expected, but now she still can't believe what she sees.

   She has been following Zhong Shi for the past few days, acting as a bridge between him and Germany. But it is a pity that so far, Zhong Shi has not used her pawn, even though Germany has asked several times.

"what?"

  Zhong Shi was lying comfortably in the executive chair and dozed off. After hearing Ivana's voice, he didn't react for a long time. After opening his eyes, he asked in confusion, "What did you just say?"

  Ivana didn't know whether to laugh or cry, and the admiration she had just raised for Zhongshi disappeared, and she asked another question angrily.

   "Women are complicated!"

Seeing Ivana's face change, Zhong Shi muttered to himself, then coughed lightly twice, and said pretendingly, "Of course there is something that can help. At this time, shouldn't Madam Prime Minister come out and say a few words?" Talk?"

  Ivana was speechless again. This guy was so arrogant that he called the female prime minister around, not treating her as a national leader at all.

   "I need her to stand up and make a statement, let the market know that Germany will not help the Italians!"

  Zhong Shi didn't know that Ivana was slandering him, so he still said to himself, "If this happens, the market will feel desperate for Italy, and the goal I want to achieve will go further."

   "Let me try it!"

Ivana didn't know the agreement between the female prime minister and Zhong Shi, so she could only reluctantly agree, and at the same time asked inexplicably, "The market has fluctuated during this period, it seems that you are just observing and not taking action. I I don't understand, what are you doing here?"

   She has been observing during this time, but to her disappointment, since his debut in the United States, Zhong Shi has given the employees of Tianyu Fund a holiday, even overseas employees. The office area, which is usually crowded with people, is now empty, and no one can be seen except the cleaning lady.

   "I don't need to do anything!"

Zhong Shi spread his hands and replied with an innocent face, "I'm going to a party, a dinner, a trip, there are many things to do. Life is too short, why waste all your time on work? Money can't be earned. Finished!"

"cut!"

   Facing these hypocritical remarks, Ivana unceremoniously raised her **** at Zhongshi.

  She didn't believe this nonsense.

   "You know that I have an agreement with you, so it is not suitable to shoot at this time!"

   After saying all this, Zhong Shi rubbed his nose and smiled. He also didn't believe what he just said. After thinking about it, he said with a straight face, "As for the matter of getting the Prime Minister to say a few words, it must be done. This is the beginning of my overall plan and it is very important. It is related to Europe's ability to completely get rid of the attacks of speculators. It's also about my freedom, understand?"

   "What the **** do you want to do?"

  Ivana's curiosity was completely aroused. If she was able to see some of Zhong Shi's actions clearly before, then this time she couldn't see clearly at all.

  In the past, she was able to speculate on Zhong Shi's motives through the operation direction of the Tianyu Fund, but this time, the funds of the Tianyu Fund were on hold, which left her without a clue.

   "You'll know later!"

   After a vague answer, Zhong Shi stopped talking.

   This disappointed Ivana.

  However, she honestly conveyed Zhong Shi’s request to Berlin, and an unbelievable scene appeared. The female prime minister was silent for a long time after listening, and finally said "I understand".

  Ivana is very clear about the meaning of this sentence, which means that the female prime minister has agreed to Zhong Shi's request. She didn't know what happened between the two, but she knew the meaning of this sentence very well.

   Then on Sunday, the female prime minister said that countries like Italy and Spain need additional measures to ensure that their 2015 budgets are in line with European Commission regulations. The implication is that the fiscal austerity programs of countries such as Italy and Spain have not met the requirements and need to continue to tighten.

   This remark was counterattacked by Sandro Goz, Italy's Secretary of European Union Affairs. He said it was not yet Germany's turn to "label" the economic performance of other euro zone neighbors. He also believes that Germany should focus on its own problems and do more to stimulate economic growth in the region.

  Suddenly, Germany, the largest economy in the euro zone, and Italy, the third largest economy, tore apart without warning, which surprised many market observers.

   You must know that at this time, it is time for Europe to unite, especially these countries with heavy economic weight. Only by uniting can we overcome this difficulty. Who doesn't want them to express different opinions in public, which has caused huge instability in the market's prospects for the euro.

   Opening on Monday, Italy's 10-year government bonds fell, and the yield rose to 6% in just two hours, setting a new high since 2007. Meanwhile, the euro fell 3% against the dollar, also hitting a recent low.

  The market is full of distress, and many institutions have issued analysis reports. Many of them are cautiously optimistic about the prospects of the euro zone, but they also said that it is better not to enter these markets in the near future, including the political risks.

  The situation is developing step by step as Zhong Shi expected.

   Thanks to cpower, Ouyang Shuiyang, Liang Caike, Leng Xin Haitao, alex0007 and other book friends for voting monthly! There are also many book friends who have not mentioned it, and I would also like to express my gratitude! I hope this book will have good results this month. The author will continue to work hard. Of course, I also need the strong support of all book friends. I hope more book friends will like this book~

  

  

  (end of this chapter)