Here's That Selloff In Europe People Were Expecting - Yields In Spain And Italy Jump

This weekend we pointed out that there are some some reasons to raise an eyebrow about the situation unfolding in Europe.

A potentially major corruption scandal is swirling around Spanish PM Mariano Rajoy.

And in Italy, a coming election has people quietly nervous.

Today we're seeing selling in the stock and bond front in both of those countries.

Italian stocks are down 1.3%.

Spain is down 0.5% (it was down 1.7% on Friday).

Two years borrowing costs in both countries is jumping a bit... not huge but notably.

Other than that: US futures a down a touch, while Asia was higher modestly.