Overnight, markets have become obsessed with Europe's next big problem: Italian banks

Forget Brexit; markets are all about Italian banks right now.
After a long weekend in the US and headlines from the Bank of England warning about financial instability in the UK, markets are seemingly obsessed with problems in the Italian banking system.
A note from JPMorgan, which comes to us from Zero Hedge, shows the rush of negative headlines related to the Italian banking system coming across the tape Tuesday morning.JPM pic.twitter.com/tlSpFZwLaM— zerohedge(@zerohedge) July 5, 2016
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