European Market Response: Spring Clip In Italian, Spanish Auctions Triggered

So much for those "fantastic" Spanish and Italian auctions: with one simple announcement, S&P is about to generate substantial losses for all those brave few European banks who took out some of their hard embezzled and repoed cash from the ECB, and bought Italian and Spanish bonds. As can be seen below, the selloff response is rapid and dramatic.'

BTP:

SPG: