From Markit Economics' retail purchasing managers index (PMI), the Italian consumer collapse continues:
According to Phil Smith, economist at Markit, consumer confidence is now at an all-time low and real pay is declining. As a result, "surveyed firms generally conceded that targets set for June would be missed" as well.
FT alphaville has the effect on the bond market:
Yields up 20 basis points in two hours. Fear in the eurozone is having pernicious effects, it seems