Monte backers feel the pain in secondary trading

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Monte backers feel the pain in secondary trading

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CTDWP9 Branch of Monte Dei Paschi Di Siena in central Florence - one of the major Italian banks in trouble | Alamy Stock Photo

Holders of Banca Monte dei Paschi di Siena’s €300m 10 year tier two have already been burned in the secondary market, with the price of the bonds having plummeted since their initial sale on July 16.

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