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Weekly Eurozone Watch – Greece Bond Yields Plunge

Posted By Global Macro Monitor On December 14, 2012 @ 6:00 pm In Markets,Think Tank | Comments Disabled

Key Data Points
German 10-year Bund 5 bps higher;
France 4 bps tighter to the Bund;
Ireland 3 bps wider;
Italy 3 bps wider;
Spain 12 bps tighter;
Portugal 52 bp tighter;
Greece 149 bps tighter;
Large Eurozone banks up  -5.0 to 3.5 percent higher;
Euro$ up 1.75 percent.


- Portugal, and Greece 10-year yields at lowest weekly close of the year;
- Fitch has affirmed France’s AAA credit rating (with a negative outlook);
- European Council meeting ‘verbal commitments’ rather than ‘concrete decisions’;
- Merkel and Holland have conflicting visions reforming Europe’s economic management;
- Eurozone overall private sector PMI at 47.3, 9-month high;
- German manufacturing PMI fell to 46.3 and France, basically unchanged, at 44.5;
- Mario Monti, refused to comment on his future plans.

Source: Guardian [1] and Telegraph [2]


Dec14_Greece [3]


Dec14_EZ_PMI [4]


France does not determine its economic policy according to credit rating agencies, it does it according to what is right for France.  - Francois Hollande


WEW_Spread_Week [5]


WEW_Bank_Week [6]


WEW_Spread_YTD [7]


WEW_Bank_YTD [8]


WEZ_Yields [9]



WEW_EuroFX [10]

(click here [11] if charts are not observable)

Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2012/12/weekly-eurozone-watch-greece-bond-yields-plunge/

URLs in this post:

[1] Guardian: http://www.guardian.co.uk/business/2012/dec/14/eurozone-crisis-summit-leaders-monetary-union

[2] Telegraph: http://www.telegraph.co.uk/finance/debt-crisis-live/9743763/Debt-crisis-as-it-happened-December-14-2012.html

[3] Image: http://macromon.wordpress.com/2012/12/14/weekly-eurozone-watch-greece-bond-yields-plunge/dec14_greece/

[4] Image: http://macromon.wordpress.com/2012/12/14/weekly-eurozone-watch-greece-bond-yields-plunge/dec14_ez_pmi/

[5] Image: http://macromon.wordpress.com/2012/12/14/weekly-eurozone-watch-greece-bond-yields-plunge/wew_spread_week-2/

[6] Image: http://macromon.wordpress.com/2012/12/14/weekly-eurozone-watch-greece-bond-yields-plunge/wew_bank_week-2/

[7] Image: http://macromon.wordpress.com/2012/12/14/weekly-eurozone-watch-greece-bond-yields-plunge/wew_spread_ytd-2/

[8] Image: http://macromon.wordpress.com/2012/12/14/weekly-eurozone-watch-greece-bond-yields-plunge/wew_bank_ytd-3/

[9] Image: http://macromon.wordpress.com/2012/12/14/weekly-eurozone-watch-greece-bond-yields-plunge/wez_yields-7/

[10] Image: http://macromon.wordpress.com/2012/12/14/weekly-eurozone-watch-greece-bond-yields-plunge/wew_eurofx-2/

[11] here: http://macromon.wordpress.com/2012/12/14/weekly-eurozone-watch-greece-bond-yields-plunge/

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