Market Update as Europe Falls in early trading. Italy in tic tac mood as rates soar

Published 7 November, 2011, 10:07, CEST+1 | By the trader

Equity markets are facing reality in this morning session. With the Italian 10 year rate at 6.66%, the clock is ticking. As we have pointed out over the weeks, Ireland got bailed out at 7%. Italian rates should be reaching that level very shortly. The only factor keeping the rates at sub 7% is the notorious buying by the ECB. With the Greek mess “out of fashion”, Italy and (don’t forget) Spain should be the countries to focus on. Below some quick chart updates.