While there was an initial knee-jerk bid for S&P 500 futures as Draghi set forth his unchanged policy (in fact worse, no new measures discussed amid the contraction of the ECB balance sheet), since the press-conference and Q&A began, risk markets everywhere have taken it on the chin. S&P 500 futures are at overnight lows, Nikkei futures are testing back to the 20% correction levels, Spanish and Italian bond yields are surging (back at near-two-month highs), Spaniosh bond spreads back above 300bps, and European stocks are tanking.
US equities...
[4]
[5]
Italian Stocks...
[6]
Japanese Stocks...
[7]
and EURUSD's initial weakness rapdly turned around...
[8]
Charts: Bloomberg