Direxion Daily Financial Bull 3X Shares (FAS)

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10:30am RTT Twitter FEED

European Banks are opposing EU Rescue Fund because it entails bond write-downs to banks. Banks are pushing for capital injection.

7 Nations are opposed to increasing the EU rescue fund to over $1 trillion. The 7 Nations are pushing for the IMF to inject more capital into Europe, relying on US funding.

US banks are heavily exposed to European bond derivatives, several banks are seeking to have these derivatives backstopped by US Federal Insurers.

France will likely be downgraded by S&P if they do not agree to German debt plan, or attempt to recapitalize their banks.

Italian bond yields on the 10 year not set to spike near 6.5% on Monday.