- Greek debt swap at 95% after bondholders forced to join – Bloomberg
- Derivatives body ISDA says will meet at 13:00 GMT on Friday to determine if Greek sovereign credit event has occurred
- Italian Dep FinMin Grilli: Greece’s use of CACs not necessarily credit event
- Greek FinMin Venizelos: Achieved exceptional degree of success in swap. CDS activation not a concern for Greece
- German BdB (association of German banks): Greek bond swap participation rate “good news”
- Greece’s private creditor committee welcomes PSI – MNSI
- German Finance Ministry: High participation rate in Greek debt deal is a big step towards stabilisation
- French FinMin: Greek bond swap is good news, avoids default risk
- German February CPI (final) +0.7% m/m, +2.3% y/y, as expected
- German January trade surplus s.a 14.2 bln vs 13.9 bln surplus in December, better than Reuter’s median forecast of 13.5 bln
- French January industrial output +0.3% m/m, weaker than Reuter’s median forecast of +0.5%
- Italy January industry output -2.5% m/m, much weaker than Reuter’s median forecast of -0.8%
- UK January industrial production -0.4% m/m, -3.8% y/y, weaker than Reuter’s median forecasts +0.3%, -3.1% respectively. Biggest y/y fall since November 2009
EUR/USD down at 1.3225 from early 1.3260, having been as low as 1.3212 so far. Eastern European selling noted after Greek debt swap details hit the wires. Some hedge fund buying noted around the lows.
Slight variance in sell stop levels, either through 1.3190 or 1.3180, take ya pick.
Market now awaits outcome of ISDA deliberations and US jobs report.
USD/JPY effectively unchanged at 81.78. Talk of sell orders just ahead of well-documented 82.00 barrier option interest. Buy orders seen clustered 81.30/45.
Cable down at 1.5770 from early 1.5815. Cable hasn’t managed to rally back past 1.5830 (where China was reported selling yesterday) Funny old World, ain’t it? Personally I wouldn’t rely on them still being there should we head back that way. But then that’s just me
It’s the weekend. Yipeeeeeeeeeeeeeeeeeeeeee!!
