Tough Day in Euroland

Europe came back from its long Easter weekend and took a nasty spanking.

Spain’s sovereign spread over German bunds blew out 26.3 bps and is within 40 bps of its November high, while Italy moved 27.4 bps wider.   The large eurozone banks got thumped (see chart), the CAC 40 broke its 200-day moving average, and the German DAX was down more 2 1/2 percent.

Alcoa on deck.

(click here if charts are not observable)

This entry was posted in Black Swan Watch, Equities, Euro, Eurozone Sovereign Spreads, German Bund, Sovereign Debt, Sovereign Risk and tagged , , , , , . Bookmark the permalink.

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