Euro Crisis : Zone Heads Back to Recession

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Spanish bond auctions this morning went better than expected, stemming the immediate rise of bond yields.

The Spanish government was thus easily able to delay its decision on whether to seek a full bail-out for yet another day.

Markets were down this morning, however, due to fears about global growth, sparked by news the Chinese economy had contracted for yet another month.

Meanwhile, the eurozone financial crisis rolls on and on.

It’s continuation was reinforced by latest Markit Flash Eurozone Purchasing Managers’ (PMI) Composite Output Index figures.

The index fell to 45.9 in September, the lowest for 39 months.

Markit said the results firmly indicated the eurozone was heading back into recession.

 

 

 

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