Photo: Jamie McDonald/Getty Images)
ORIGINAL POST, SEE UPDATE AT BOTTOM: It’s not a total disaster, but it’s a fairly ugly scene in Europe this morning.The big loser is Spain, which is down 1.7%.
That’s not too much of a surprise, given that it was the receipient of a two-notch downgrade from S&P yesterday evening.
Yields are also jumping in Spain, though the 10-year yield remains below 6%.
As for other markets:
- France -0.6%
- Italy -0.2%
- German: -0.5%
US futures are pointing down as well.
UPDATE: And suddenly, markets have bounced back. Spain and Italy are now basically unchanged.
The irrelevance of the raters is being shown again.