Photo: Flickr / Lee Bennett
ORIGINAL POST, SEE UPDATE BELOW: So far it’s a very quiet morning for world markets. After a volatile week, it’s quite the change.The two big worry markets, Spain and Italy, are basically flat. Germany is up modestly.
US futures are ticking up modestly.
Spanish bond yields are ticking higher again. The 10-year is nearly back at 6%. The 2-year is headed higher as well.
In Asia, things were mixed. The Shanghai Composite and Korea’s KOSPI were both down over 1%. Japan was just down modestly.
UPDATE: The selloff is beginning. Italy is now off over 0.6%.
UPDATE II: Wild day. Now markets are jumping.
Here’s Italy again, spiking.
There’s a good chance that the latest headlines from the IMF — that emerging economies stand to give more — is behind the latest rally.