Since all eyes are on Italy, we just wanted to get you up to speed on what kind of crazy day it’s been already.
First the market opened down 3%, before bouncing back to just barely in negative territory.
Similar story on the debt front.
Short-term yields spiked to over 5% initially, but have come down a bit.
The 10-year is breaking to new highs as well
Meanwhile, if anyone cares about the real economy, Italian industrial production fell 0.6% when people were expecting a gain of 0.2%.
Update: Italian GDP just came out right in line with expectations with growth of 0.3%.