Spain's IBEX stock market index has plunged by around 6% this week - the biggest weekly drop in six months. Spanish sovereign bond spreads are flat-lining, entirely ignorant of this devastation; and of course, EURUSD continues to surge. The EUR surge and IBEX plunge coincidentally began at the same time (Wednesday) as Rajoy's alleged kickback scheme was uncovered... oh yeah, and Spain lifted its short-selling ban (oops). Spanish stocks are now red for 2013...
Worst drop in IBEX in six months...
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as IBEX plunges on the week...
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and a total disconnect from bonds and EURUSD...
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Charts: Bloomberg