Markets Getting Pummeled, Borrowing Costs Explode In Spain And Italy

Wednesday, May 30, 2012
By Paul Martin

Joe Weisenthal
BusinessInsider.com
May 30, 2012

The beatings continue, especially in Spain, where the IBEX is down 1.7%.
This markets three straight days of substantial losses to start the week.
Yield on the Spanish 10-year bond has shot above 6.556%.
As a reminder, we’re talking about a potential crisis in a country whose economy would make Greece’s look like a joke.
Italy’s borrowing costs, meanwhile, keep edging up, with the 10-year yielding 5.8825. Its market is down 0.45%.
Overall the tone is negative. The Aussie dollar (a representation of risk appetite in Asia) had a horrible night and US futures are lower.

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