Photo: eugeneflores on flickr
Europe is reallying HUGE after the announced Spanish bank bailout.Let’s just go through some of the regional indices quickly.
- Spain: +4.74%
- Italy +1.92%
- France: 2.09%
- Germany: 2.18%
- Greece: +2.07%
Spanish 10-year bond yields are lower, although not dramatically so. Same with Italy.
US futures are still sharply higher, although they’re a touch lower than they were last night.
Bottom line: Despite the assumption that the rally will fade, or the fears that there’s less than meets the eye in this bailout, for now, the party is on.
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