As we noted earlier, yields on Italian debt continue to blow out, which is obviously a pretty ominous sign for the success fo the contagion-stemming measures announced last week.
And therefore it’s not surprising that markets are selling off across the continent.
- Italy -1.1%
- France -1.4%
- Germany -0.82%
It’s the second day of selling since the talks concludes late last Wednesday. On the other hand, markets have actually been rebounding for a couple of weeks — pre-summit — so you should still put the selloff in perspective.
US futures are falling solidly as well.