For those of you who don't have any daughters between the ages of 2 and 20, let me set the scene...

After her sister just accidentally cast a spell that turned the castle and surrounding area to ice, Anna set off to find Elsa and avoid a potentially disastrous witch hunt. 

After trudging through the snow for a while and falling in a river, Anna was relieved to find a local trading post and hoped to find a fresh pair of boots or any other winter supplies the princess could get her hands on.

Now, though the story is quite obviously set in Norway, for some reason the shopkeeper is the only person in the entire movie who has an authentic Norwegian accent. On seeing Anna, the gentleman excitedly exclaims "big summer blowout" and proceeds to highlight the fact that he now has a "supply and demand problem" in the winter department.

My point here is that the blowout in the Italian bond market yesterday in a strange way reminded me of a Disney movie. It was out of place, awkward, and as unhelpful as it was unjustified. That doesn't mean we can't use the opportunity to find some great deals.

Today's Highlights

• Euro and Indices
• Trump Style Policy
• When June Sir?

Traditional Markets

Even though it's rather clear that the issues in Italy will remain Italian and that what's happening there is expected to be a temporary political scuffle that is highly unlikely to spread, many traders used the opportunity to take some profits off the table and global indices ended red on Tuesday.

Though Asia had carried the sentiment from Wall Street, it looks like European investors this morning are buying the dip. The EURUSD is off the lows, as are the DAX and the Dow.

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)