European Sovereign Spreads Plunge To Nine Month Lows As EUR Breaks 1.3300

Tyler Durden's picture

The world can't get enough Greek Government Bonds (now trading above 50% of face! on 5-notch S&P upgrade and ECB collateral news), Italian and Spanish government bonds (at nine-month low spreads with the biggest one-week drop in risk in over three-months and tighter by 25bps this week alone), Euros (EURUSD at 8 month highs with a 430 pip ramp in the last week), and Italian and Spanish stocks (at nine-month highs and up 3% this week). Technical breakouts every you look in Europe as the almost unprecedented rally of the last week - amid huge and escalating volumes in stocks - goes on. The only thing we would add is that for the first time in a week, European stocks, bonds, and the EUR are closing the European day-session off their highs. Apart from that - everything is golden, problem solved.

 

Greek Government Bond (price)...

 

Italian Bond spreads...

 

Spanish Stocks...

 

EURUSD liftathon...

 

European VIX rolled over today...

 

Charts: Bloomberg