Dead cat or sustainable?
I think there is far too much turmoil and uncertainty in the UK to sustain the bounce in European stock but it was party time today.
- UK FTSE +2.5%
- French CAC +2.5%
- German DAX +1.9%
- Spain IBEX +2.5%
- Italy MIB +3.3%
Periphery spreads tightened substantially with Italian 10s down 10bps and German bunds flat at -0.11%.
