It’s beginning to feel a lot like last October….
All around Europe, there are growing signs that financial markets are weakening especially for PIIGS countries.
As we just reported, Spain has been getting whacked lately over worries about its economy, banking system, and the true size of the public debt.
And Italy, which had seemed to calm down, is now looking rough too.
The 10-year yield is back around 5.25%.
And the stock market is getting slammed like the old days.
As this chart shows, the main stock market in Italy is down over 3% today. UPDATE: And just to make things even more old fashioned, now shares of Italian megabank have been halted after falling about 5%.