Key Data Points
German 10-year Bund 11 bps lower;
France 12 bps wider to the Bund;
Italy 10-year 14 bps wider to the Bund;
Spain 8  bps wider;
Portugal 11 bps wider;
Ireland 13 bps tighter;
Greece 75 bps tighter;
Large Eurozone banks consolidate recent gains;
Euro$ down 0.95 percent.

Comments
- Spain’s successful 10 year bond sale brought yields down  to an average yield of 5.67%, compared with 6.65% at the previous auction;
- Poor PMI figures  in Europe, the US, and China sent Bund yields and bank equities lower;
- Bundesbank president, Jens Weidmann, will meet Italy’s economy minster, Vittorio Grilli, next Wednesday;
- Spain’s Rajoy may be considering freezing pensions and bringing forward a planned rise in the retirement age.  The  austerity measures will hurt the PM politically but gives Madrid more cred with EU policymakers;
- Momentum for independence in Catalonia,  the wealthy region of northeastern Spain and 20 percent  Spain’s economy, is increasing;
- German Finance Minister Wolfgang Schaeuble says Spain should not yet take a bailout as borrowing costs have fallen in recent weeks.

SourceGuardian and Reuters

(click here if charts are not observable)

 

Category: Think Tank

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

Comments are closed.