Markets Are Staging A Gigantic Rally

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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.

For more on why the Spanish bailout is a big deal, and should cause a market rally, see David Zervos here >

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