Good morning from London, where the color of the day is red.

Stocks? Down everywhere. Off 2.8% in Spain, 2.8% in Italy, 4.6% in Greece.

Euro? Down to $1.2866.

Bonds? Spanish 10-year yields weaker by 28 basis points to 6.31%, Italian yields weaker by 25 to 5.93%. Don't even ask about Greek bonds.

Oh, wait. There's some green: German bunds are at record highs. The 10-year bund is yielding just 1.45%.