| From Commodityonline.com: Fitch’s downgrade of Spain pushed the equity markets over the cliff after yesterday’s big relief rally on the news that the Chinese were going to stay with the Euro (what did people think they were going to say? “Oh yes – we are going to dump all of our Euro denominated debt tomorrow morning.”)
I am not particular sure why equities faded on this news as did the Euro since everyone and their mother expected it already, so to me it is not “news”. Still, it perhaps served to bring suspicions concerning the remainder of the PIIGS’s financial footing to the forefront of short-sighted traders’ minds once again...........................................Full Article: Source
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