Today top Citibank analyst, Tom Fitzpatrick, warned that, despite the rally, if Europe does not take decisive action we will see this crisis accelerate. Fitzpatrick, a 28 year veteran and top analyst at Citibank, which has $1.3 trillion in assets, also said, “the concern levels are still there, and if anything they are becoming elevated.” Fitzpatrick also provided some excellent charts which illustrate the ongoing train wreck that is Europe. Here is what he had to say about the deteriorating situation in Europe: “Overall we continue to push higher, both in terms of Spanish yields and in terms of the interest differential we are seeing between Spain and Germany, which has to be an increasing concern.”
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