Where Has All The Angst Gone?

Investors have been complaining about the Spanish bank bailout’s lack of effectiveness all week, and markets have—at least, for most of the time, been reacting negatively.

But suddenly, the situation in Europe doesn’t look half bad, at least not in the markets.

Italy is soaring higher, with the FTSE MIB up more than 2.3 per cent:

stocks

Photo: Yahoo Finance

 Spanish yields have fallen dramatically. Check out 10-year yields, for example, which are down 9 basis points today to 6.8 per cent:

yields

Photo: Bloomberg

The move in Italian yields is even bigger—they are off 15 basis points, falling below 6.0 per cent.

Even the euro has gained strength since early this week, now trading above $1.26:

forex

Photo: DailyFX

True, this all could change with the Greek elections this weekend. But at least right now, things really don’t look so bad.

MORE OPTIMISM: 6 Reasons Why Spain’s Bank Bailout Plan Is Awesome >

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.