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...
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European Sovereigns bleeding...
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and a little context oin Europe's ebulience post Draghi... IBEX...
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Charts: Bloomberg