Italian Yields Are Dropping, And European Markets Are Taking Off

The only indicator that matters — Italian bond yields — is improving this morning.

Here’s an intraday look at the yield on the Italian 10-year:

chart

And so, because it’s falling, stocks are rising.

Germany is up 0.8%.

Milan is up 1.7%

France is up 0.9%.

New Italian PM Mario Monti is expected to officially announce his cabinet today, which might be juicing sentiment a little bit.

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