The week begins in a truly s#!tty manner. Europe is getting smoked and the numbers have
been updated to reflect the carnage., BusinessInsider reports.
Spain is down 2.5%. Spain is down 2.7%.
Italy is down 2%. Italy is down 2.8%.
France is down 2% France is 2.6%.
Germany is off 1.6%
US futures are off about under 1%.
More worrisomely, perhaps, is that peripheral yields are
really shooting higher today. We've had some of these days in recent weeks,
where markets tanked, but the sovereign bond situation was stable. Today? It's
bad. Spanish 10-year and Italian 10-year bonds are both jumping. In fact,
Spanish yields have hit 6.2% for the first time since December….
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