I care less about the EU stock markets reaction to Greece than I do the credit markets.
If today is all about Greece – look at how the bond mkts are behaving on the periphery. These should be on your screens everyday.
Spain – has gapped 25bps wider this week as Greek rhetoric worsens and Germany digs in
Italy (BTP Market) 10yr as well:
Almost mirror image…
Meanwhile Bund flight to quality continues over same time period, tightening 10bps this week:
