Its all good until they come for your stuff…
In Europe, it is worse as Portuguese, Spanish , and Italian bond spreads are snapping wider to post Cyprus wides; Spanish and Italian equity markets are tanking down 3-4% on the week; and GGBs are back under EUR50 – their lowest in 3 months. Gold and Silver are rising as Copper and Oil slide. Swiss 2Y rates are negative at their lowest in over 2 months. VIX is up 33% from Thursday’s lows and back above 15% – biggest 2-day jump since Nov 11.
Charts of the Day….Slippery Slope?
“Europe is getting out of hand fast”