Key Data Points
German 10-year Bund 4 bps lower;
France 1 bp tighter to the Bund;
Belgium no spread change;
Ireland 6 bps tighter;
Italy 12 bps tighter;
Spain 30 bps tighter;
Portugal 15 bps tighter;
Greece 4 bps tighter;

Large Eurozone banks weekly change, -10.60. to 10.42 percent;
Euro$ down  0.41 percent.

Comments

  • The German Bund is approaching its 1.127 percent low made last July;
  • Italy, Spain, and Ireland yields at lowest post-crisis weekly close;
  • The Bundesbank criticised the ECB’s bond-buying programme designed to save the euro, questioning whether it is really necessary and suggesting it represents a great risk to taxpayers. – FT
  • Italy sold €8bn of six month treasury bills at a yield of 0.503%, down from 0.831% previously andthe lowest rate since the introduction of the euro. – Nick Fletcher, Guardian
  • Pimco, the world’s biggest bond fund has been cutting its holdings of Italian and Spanish government debt after their recent rallies. – Grame Wearden,  Guardian
  • Enrico Letta has been handed the mandate to form Italy’s next government by president Giorgio Napolitano. – Grame Wearden,  Guardian
  • Enrico Letta told reporters in Rome on Wednesday that his top priority was to tackle the “enormous, unbearable” economic emergency in Italy, in a signal that his government could change the pace of austerity. – Grame Wearden,  Guardian
  • French unemployment rising by 1.2% to 3.225m, the 23rd monthly rise in a row worst level since records began in January 1996.  – Grame Wearden,  Guardian
  • Spain‘s joblessness has reached fresh heights over the first three months of the year with a record 27% of the workforce unemployed.  – Giles Tremlett, Guardian

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Italy’s Letta enters political twister

It is a very difficult situation, fragile, unprecedented.- Enrico Letta

 

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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.

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