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)...
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Italian Bond spreads...
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Spanish Stocks...
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EURUSD liftathon...
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European VIX rolled over today...
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Charts: Bloomberg