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PIIGS - Look out Below

|Includes: EWI, iShares MSCI Spain Capped ETF (EWP), FXE, IGOV

Looks like things are starting to unravel today in Europe:

Greece, Portugal Woes Intensify (WSJ)
Greece’s Biggest Union Sets Strike, Threatens Cuts (Bloomberg)
Who's Next? Italy? Spain? (Marketbeat)
Hedging PIIGS Risk with ETFs (Seeking Alpha)

PIIGS - related ETFs are falling hard today: Spain (EWP) down 7%, Italy (EWI) down 4%+, Euro Currency Trust (FXE) down 1%+, Internation Treasury Fund (IGOV) down .5%

Source: Bloomberg Source: Bloomberg source: Bloomberg