UPDATE: It’s already been a whipsaw day.
European markets started the day green, went red, and are now back to green again.
US futures are now in the green.
Yields in Spain and Italy are down.
The crisis is on pause.
Update 5:25: The Italian market is really exploding higher now after a successful bond auction. FTSE MIB up 1.5%.
ORIGINAL POST: Global markets are are trying to rally after that brutal Tuesday, but it’s not happening.
European markets were generally positive across the board in the early going, but they’ve mostly gone negative, adding to yesterday’s brutal losses.
Here’s Italy, which started off green, but is now down 0.5%.