Move Right Along...
...Nothing to see here folks.
Last week Spanish and Italian bond yields leaped again and world markets spasm-ed. ECB chief Mario Drahi then stepped up to say, don't worry, we won't let the Euro fail. Amazingly, this did the trick. Skeptics wonder how many arrows Drahi has left, and when he is going to act instead of just talking.
Prediction: Another major spasm before September. One of these days it might be the big one.