European markets are quiet with the exception of Italy, where the MIB index is off 1.5% as President Giorgio Napolitano canceled an appearance at a conference today amid "disturbing political developments."
Silvio Berlusconi's supporters - part of the governing coalition - have threatened to bring down the government if the now-criminally convicted Berlusconi is stripped of his Senate seat.
In the meantime, rumors make the rounds of another downgrade to Italian debt. Yields are quiet, the 10-year up a couple of basis points to 4.25% - the low part of its range YTD.
Equity ETF: EWI.