Presently at 144 bps from the 138 bps I jotted down first thing. Mon Dieu!!! EUR/USD very marginally easier, down at 1.3183 from 1.3195 when I first sat down. Talk of some sell stops through 1.3175.
‘Expected triumph of Francois Hollande could shift balance of power in European Union’
‘Jacques Chirac once joked that Francois Hollande, the bashful Socialist pup sent to challenge him in his rural power base, was less well known than Francois Mitterand’s labrador.’
From the 140 I jotted down first thing. Highest since January 9th. EUR/USD down to 1.3130.
Got it in one pumpkin. And there’s the problem. ECB should cut interest rates ECB should lend money directly to states I just can’t wait for this guy to become French President. It’s gonna be a hoot
A rumor of an imminent downgrade of France has been making the rounds. According to a ‘senior French source’ cited by Reuters, the rumor is untrue.
Spain/German 10 year govt bond yield spread 406 bps presently, slightly narrower from early 410 bps. French/German 10 year govt bond yield spread 128 bps, hardly changed from 129 bps first thing All quiet on the Western front……