The trend continues

Markets are still a long way off last week's intraday lows, but today's big ugly continued to improve the outperformance of Spanish banks. Now at +14.5% with respect to a basket of German, Italian and French large banks, the spread is 2.5 points wider than last Friday.

For readers who don't have time to read the whole, very good article, a quick look at the tables and charts in an August 12 post at Logic of Finance might go some way to explaining what, to some, may be an anomaly.

Great publication, btw, for those who don't have some sort of moral objection to people who do their own research - before coming to conclusions.

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