To conclude tonight, and lead into the weekend...stare at the following picture of horror for a few minutes, and then ask yourself...'where is Europe probably headed next week?'
Spanish IBEX, monthly, 20yr
All things considered right now...Monday could be real ugly. Both Spain and Italy are in the process of seeing their equity markets collapse.
If the Bernanke, or the ECB are going to pull any weekend tricks, they better do something..and it had better be significant.
Goodnight.