WAKE UP: Europe Is Cratering Again

crater lake

The non-stop global selloff continues (once again, where it all started) in Europe, which is getting destroyed.

Italy is off over 2%.

Germany is off 3.9%

France is off 2.4%. 3.6%.

Interestingly, Italian spreads are sharply narrower again on the day, suggesting an ongoing ECB presence in the market (enough to counteract the rest of the bearishness), but that ECB action isn’t enough to make waves in other markets.

Meanwhile, US futures have been all over the map already, but are currently a bit higher.