What An Unbelievable Morning Already

The last 6 hours have been absolutely nuts. If you think the day starts when the NYSE rings the opening bell, you’ve missed all the action, which can basically be summed up in this one chart of Italian short-term yields, which exploded out of the gate, and are now down for the day, following rumoured ECB bond buying.

All other markets have moved from risk off to risk on, with US futures making a big comeback, as well as the euro, as well as everything else.

For a guide to what’s happening in Italy, see here >


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