Key Data Points
A small bounce on Friday after a tough week;
German 10-year closes at 1.427 percent;
France 14 bps wider;
Italy 39 bps wider;
Spain 35 bps wider;
Portugal 140 bps wider;
Ireland 59 bps wider;
Greece 448 bps wider;
Large Eurozone banks hammered, down 3 to 14 percent across the board.
Comment: Bank runs or bank jogs scare the merde out of policymakers and is likely to facilitate a policy response providing some anesthesia to the markets, which
will should generate some short covering. Longer term, however, only structural reform will do the trick to save the Europe as we know it and, thus far, is proving bitter medicine for the European street.
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