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It’s been pretty snoozy in markets lately, but one big story is the improvement in Spanish and Italian markets lately.Spain has been particularly impressive.
It rallied nearly 4% yesterday, and it’s up over 1% today. Italy is up about 1% today as well.
US futures are flat and Germany is up marginally.
We’ll see if it lasts once vacation really comes to an end in Europe, but for now, panic is clearly subsiding, as measured in multiple ways.