4:15 pm : Stocks remained in a tight range throughout the day before settling on their session lows. Market action was similar to that observed yesterday as the major indices hovered around their respective unchanged levels for most of the session.

At the moment of writing (Monday morning) Spanish yields are above 7%, that's clearly not sustainable for an economy with 25% unemployment, a property bust, a banking crisis and a deep recession cutting severely into tax receipts.

Ron Rowland: Twenty-four new members joined ETF Deathwatch for July. Seventeen are ETFs and seven are ETNs. Only six products came off the list, yielding a net increase of eighteen.