Europe Unch To End Worst Week In A Month

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

Comments

[The Wizard of Oz]

FOLLOW THE YELLOW BRICK ROAD

[spastic_colon]

funny, the IBEX looks exactly like the S&P 500

[CPL]

Someone must know something because AH it's all going back up.

[PUD]

Troika doom Sunday! Bhwaaaaaaa

[Yen Cross]

 Sweet Jeebus. AAPL is  off 13.55. https://www.google.com/finance?client=ob&q=NASDAQ:AAPL