European Markets Throw A Huge Party, One Day After Bailout

germany disco party dance

Photo: Luca Volpi, Wikimedia Commons

The day after EU leaders got together to craft a Greek bailout, and move the continent one step closer to fiscal union, European markets are throwing a big party.Stocks are higher across the board (in the case of Greece, significantly, by 2.68%), but the real action is on the credit side.

Greek two-year yields are below 30%! Italy’s 2-year yields are below 3.4%.

Of course, we saw a huge move like this last year, when the EU held a summit to bail out Greece, so we shall see.

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