While one man plummeted from Space yesterday EZ officials are hustling to cause a free fall of their own. They want those peripheral yields to drop and drop like a stone and so far Spanish yields are easing (5.65% from 5.9% last week). Main reason for this is some EZ official remarked over the weekend that November would bring not only a Spanish bailout request but also a Greek debt restructuring (AGAIN) and probably a bailout for Cyprus as well. So basically the EZ are trying to “kitchen sink” it. I struggle to see how Greece will achieve another restructuring or anything resembling a bailout as politically that would have to be suicide for Merkel, how many times can she be seen to be bailing out the Greeks by her home nation? Personally I feel they are just trying to keep Greece quiet and off the radar for while they deal with Spain. Some renewed optimism then in the Euro this a.m as people cover their bearish bets on this news, also we had some mixed data from China to show their exports rose last month so a few signs of life coming from them. Overall nothing to get too carried away with as we have had these kind of timelines before from Europe only to see them drag on and on and on and on and……………well you get my drift.