European Credit Weak As Stocks Near Friday Highs

European equity prices are pushing up towards Friday's highs, as Spanish and Italian sovereign bonds mysteriously surge back to unchanged on the day - but European corporate and financial credit markets are notably wider. Financials, most notably, remain underperformers and significantly worse than Friday's worse levels - seemingly treating with disdain yet another false hope in equity markets.

but notably Italian and Spanish yield-spreads have pulled back to unch but remain notably worse than Friday's best levels...

Chart: Bloomberg