- Europe must recognise sacrifices, reforms Spain carrying out
- Some details still unclear on conditions of rescue
- Would be irresponsible to take decision without facts
- Part of Spanish spread not ‘fault’ of Spain
- Pensions ‘would be last thing’ govt cuts
- To study rescue if consequences acceptable for Spaniards
Meanwhile back at the ranch, Spain 10 year govt bond yield above 6% at 6.03%
Spain goes to the well today. Auctioning 3.5-4.5 bln 12,18 month t.bills. Results due 08:30 GMT.
EUR/USD marked lower as above comments suggest Spain stalling on bailout.
Sell stops through 1.3080 and 1.3075 history and we’ve been as low as 1.3069.
Earlier was getting reports of buy orders clustered 1.3050/60. Guess further sell stops will be positioned fairly close below these orders, but don’t have confirmation of exact level/s.
