This seems like the surest way to bring the Euro crisis back in dramatic fashion, but for the moment, Europe has gone silent.We wrote about this yesterday, how in the last two weeks, the centre of the world’s attention has come fully back across the Atlantic onto the US.
US growth, the US election, the Fed, the US drought, and the Fiscal Cliff are all anyone are talking about.
Yesterday at the Bernanke Senate hearing? Virtually no discussion of Europe.
Stuff is still happening quietly. Finland and Spain resolved their collateral issues yesterday, and that’s something.
But by and large, there’s no news coming out, and the markets aren’t doing much of anything.
The Spanish 10-year? Still ridiculously elevated at 6.75%, but about where it was all through the last month and a half.