European public holidays have done little to ease any of the turbulence over the last few day’s as we head into employment releases. Capital markets seems to be accepting that NFP will be bad, but, how bad? Negative sentiments from Moody’s has failed to stop the EUR’s rally. Even the suggestion of incentives for debt rollovers is not being touted as a Greek default. On the other hand, a stronger Spanish bond auction this morning is deemed as being favorable for the currency. (full story)