Photo: Filaos, Wikimedia Commons
DEVELOPING: The world isn’t ending…Markets are ripping higher all over the place right now.
US futures are pointing to gains of over 2% across the board.
Italy’s FTSE MIB is up 2.5%.
France’s CAC-40 is up 2.7%.
Yields on Italian debt are narrower… though the 10-year is still over 7%.
This weekend saw a flurry of rumours on the European sovereign debt front including, most promisingly perhaps, some notion of engaging in a super-fact Eurowide stability pact/fiscal union/Eurobond deal that would allow the ECB to come in and snap up sovereign debt.
Everything’s just rumours and headlines for now, but again, at least for today, things are ripping.
For more on the various rumours that are floating around today, see here.
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