Morning Audibles 4.28.10 - While You Were Sleeping

Here's what was happening while you were sleeping (Nic & McF, we know you don't sleep, but let's just "say" you were sleeping)...

Spanish Q1 2010 Unemployment Number Accidentally Leaked, Surpasses 20% For First Time Since 1997

http://www.neurosoftware.ro/finance/insurance/stock-market/spanish-q1-2010-unemployment-number-accidentally-leaked-surpasses-20-for-first-time-since-1997/

A freak leak of the Spanish unemployment number by the National Statistical Institute (INE), the equivalent to the DOL, was captured by Spanish daily ABC.es, according to which for the first time since 1997, the unemployment rate in the country that was notched by S&P today, will surpass 20%. This number was supposed to be under embargo until Friday. According to the temporary leak which was subsequently promptly removed, the number of unemployed in Spain increased from 4.3 million to 4.6 million between the end of 2009 and March 31, 2010. 


What’s worse is that the unemployment among Spain’s youth is reaching epidemic proportions: “the unemployment rate for those under 25 years in the first quarter of 2010 was 40.93% and 18.02% in those over 25 years. In the group of 16-19 years, the rate is 59.79% and 13.1% among the unemployed aged 55 and older.” Dealing drugs is probably a more lucrative job than working for the government anyway. No taxes either.


So how are S&P FUTURES taking this news (aware that Greece is about to default, and Spain, which is much LARGER, is one of a few in line to be the next domino)?...

Hey! They're UP!... Whadda ya know?

I carefully avoided using the one with Erin Burnett riding it.

All I can say is, well, we ARE in the zodiac sign of TAURUS... Problem is, there appear to be two different types of BULLS battling it out (one wants to "gore", and the other wants to "soar")... Maybe they're getting themselves confused with the TWINS?

Oh I know... I can do better than that! (right LB)?