Europe Unch To End Worst Week In A Month

Tyler Durden's picture

Thanks to some early ebulience in the US session, European stocks and bonds managed to crawl back to unchanged on the day capping the worst week in a month for most risk assets amid ever-decreasing macro data. Spanish and Italian equities are down 4 to 4.5% over the last 6 days and 2Y Spanish bonds had their worst week in 6 weeks (though remain relatively range-bound). 10Y Spanish spreads ended back above 400bps (up 28bps on the week) as Portugal saw the most weakness - wider by almost 60bps. EURUSD round-tripped to unch today amid Schaeuble's comments this morning - but ended the week down around 80 pips or 0.7%. The post-Draghi up-trend is over - range-bound is no the norm, but it seems Europe has reconnected with US-beta...

European stocks weak...

 

European Sovereigns bleeding...

 

and a little context oin Europe's ebulience post Draghi... IBEX...

 

Charts: Bloomberg