Commerzbank VAR jumps on Italian turmoil
Sovereign bond yield spike hits public finance portfolio
Commerzbank’s value-at-risk (VAR) increased in the second quarter, as market jitters following the Italian elections in March swept through its portfolios.
The German lender posted an average daily VAR of €75 million ($87 million) over the three months to June 30, up €24 million (47%) from the previous quarter, and 17%, or €11 million, from a year ago. It’s the highest since the fourth quarter of 2016, when the US presidential election and the Italian referendum unleashed volatility onto
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