Photo: AP/Manu Fernandez
ORIGINAL POST, SEE UPDATE BELOW: The beatings continue, especially in Spain, where the IBEX is down 1.7%.This markets three straight days of substantial losses to start the week.
Yield on the Spanish 10-year bond has shot above 6.556%.
As a reminder, we’re talking about a potential crisis in a country whose economy would make Greece’s look like a joke.
Italy’s borrowing costs, meanwhile, keep edging up, with the 10-year yielding 5.8825. Its market is down 0.45%.
Overall the tone is negative. The Aussie dollar (a representation of risk appetite in Asia) had a horrible night and US futures are lower.
UPDATE: It’s really getting ugly on the Spanish and Italian debt front. The Italian 10-year bond is now yielding above 6%.