With few exceptions, the global capital markets which began the week with a bang, are finishing with a whimper. The US dollar is little changed against the major and emerging market currencies. Asia stocks were by and large flat, with the notable exception of Chinese stocks, where the major indices jumped a little more than 4%. European bourses are mixed, with gains and losses mostly less than 0.25% near midday in London. Spanish and Italian bond yields are slightly lower, but activity is quiet. Despite the subdued tone there are four developments to note. (full story)