A while back, I briefly introduced the idea of crisis fatigue, the condition where one tires of the persistent low-level crisis that infests the corners of one's daily experience to the point that doing something, anything else, becomes an attractive proposition.
Now the entire globe is experiencing bailout fatigue, as evidenced by the lifespan-of-a-mayfly duration of the market pops that follow each new bailout announcement.
The most recent example is the 'bailout' of Spanish banks, first leaked and then 'announced' over the weekend to great hoopla and fanfare. The only problem was that no details came along with the announcement.
Where would the money come from, under what terms, and when? Such information was just not available.
The result? A massive futures spike in the global stock markets that did not even last a day: