The Story Of The Day Is That PIIGS Are Getting Wrecked All Over The Place

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Photo: myoldpostcards on flickr

Just in case you weren’t aware, the PIIGS are getting wrecked all over the place today, following Moody’s big downgrade of Portugal.Let’s just run through the highlight reel:


  • The main FTSE MIB index is down over 2.1%
  • Italy short-term debt is blasting higher.
  • Shares of UniCredit, the big bank, are down 6%.


  • The main ISEQ index is off 0.7%.
  • 2-year debt has yields of over 12% for the first time.


  • 10-year portuguese debt is yielding over 12% for the first time.
  • 2-year debt is above 15% for the first time as well.


  • Stocks down 1.6%.
  • Short-term debt blasting higher.
  • Banco Santander is off over 2.8%.

Now click here to see the latest default odds across the Eurozone >

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