OH CRAP: The Market Rally Is Quickly Vanishing Away
Jun. 11, 2012
The Euphoria is over.
All of the “risk” assets are quickly giving up much of their gains.
Dow futures are up about 80 points, which is well off the 140+ points that was indicated earlier on.
S&P futures are up 9 points, well below the +18 we saw earlier.
The euro had been above 1.260 earlier. Now it’s at 1.2561.
Spanish yields are now markedly higher.
As for equities, The Italian market has just gone negative.
Mostly the scene is still positive, but generally a lot less so, and there’s buzz about there being a lot more restrictions and oversight on the bailout than originally thought. Dow Jones report that the Troika is back, and will be overseeing things.