- FTSE +0.6%
- Cac +1.3%
- Dax +1.6%
- Ibex +1.6%
- FTSE Mib +3.4%
European bonds
- Italy 3.10% -1bp
- Spain 3.06% -2bp
- Portugal 3.75% -12bp
- Germany 1.48% -1bp
That’s a big old turnaround in stocks and bonds are continuing to carve out new lows with Spain and Italy both on the way to dropping through 3.0%
Spanish 10 year yields 16 04 2014
Whatever you think about the state of Europe these sort of moves are bringing down member state costs by billions. Confidence is a huge part of the economic picture and Europe is getting it in bundles. Let’s hope they don’t cock it up.
