It’s Monday, So That Means

Doom!

The yield on Spanish government 10-year bonds hit a new euro-era record of 7.5pc on Monday on fears that one of the eurozone’s biggest economies might need a full-blown sovereign bailout.

The FTSE 100 fell 1.5pc to 5566 points at the open and was trading 1.6pc down at 9.47am. Spain’s Ibex tumbled 4.5pc, Italy’s MIB dropped 3.3pc, France’s CAC-40 fell 1.8pc and Germany’s DAX slid 1.5pc.

In Asia, Hong Kong’s Hang Seng dropped 2.8pc, while Tokyo’s Nikkei 225 shed 1.9pc, Australia’s ASX Sydney slipped 1.7pc, South Korea’s Kospi lost 1.8pc and China’s Shanghai Composite slid 1.3pc.

Markets were spooked by reports that Murcia became the second indebted Spanish region after Valencia to ask the central government for financial support, while officials in Madrid warned that the economy would likely contract through 2013.

Right now the Dow is due 150 lower, “Liebor” is hopefully leading to arrests, and the Chinese, well, it should come to no surprise to anyone that they just make shit up.

But more importantly I am completely exhausted after a long (but enjoyable) weekend and I’m happy to be back in the Salt Mines and I ask that you go do that voodoo that you do so welllllllll

categories Biz, Life, Politics | | datetime July 23, 2012 6:19 am

2 Responses to “It’s Monday, So That Means”

  1. Gary from Jersey says:
    July 23, 2012 at 8:50 am

    You want to start a Monday like that? Fine. Bam’s giving mortgages because you were racist in a previous life.

    Enjoy your day.

  2. Dr Alice says:
    July 23, 2012 at 11:40 am

    I love me some Hedley Lamarr. That scene cracks me up.

    I also miss Monty’s DOOM posts on Ace. That guy knows his economics.

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