Photo: Nicholas Carlson
Well, early this morning European markets were actually doing well, with several of them up in the tune of 1%.No more.
As such, the rally is gone.
Spain has fallen over 1%.
Italy is basically flat. Italy is now down 1.5%.
Here’s an intraday chart of Italy’s FTSE MIB index.
Spanish government yields are ticking up, although they remain well below 6%, and 5.83%.
Conversely, short-term German bonds are seeing record low yields, as the flight to safety continues.
Bottom line: A rally has vanished due to horrible numbers across the board.
Time for a growth pact!