The one-way street in European peripheral bond yields/spreads… is over. Today saw Italian, Spanish, and Portuguese bond spreads smashed higher by the most in over 15 months. European stock markets all tumbled too with the FTSE-100 down over 3.5% and Portugal down 2.8%. Greece’s retroactive tax idea (quickly denied) drove Greek stocks into the red for the year and slammed the new GGB issue lower. Europe’s credit markets cratered wider and Europe’s VIX burst back over 17.
Ugly day for European stocks and bonds…
Leaving Greek stocks red for the year and the high beta names tumbling…
Worst day for EU bonds in 15 months…
via Zero Hedge http://ift.tt/1jyhOs1 Tyler Durden