- ECB will offer 12 month liquidity operations when situation on markets so demands
- Personally does not expect recession in euro zone
Elsewhere Greek Development Minister:
- There is a lack of decisiveness in Europe which could be disasterous
- Europe must fight uncertainty and implement deal agreed in July
- We need a new debate in euro zone, not on default but on growth
EUR/USD has tripped stops through 1.3585, presently at 1.3590. The move comes against risk on backdrop. European stocks adding to earlier gains, NYM light crude up $2.30. US treasury yields markedly firmer, 30 year up at 3.1041% compared to 3.0143% when I sat down.
More Middle Eastern buying notable in latest leg higher.
