Closing changes for the major European bourses:
- UK FTSE -0.3%
- German DAX -0.4%
- French CAC -0.5%
- Italy MIB +0.6%
A few stories drove the bond market chatter, especially the German bobl yield below 0% but Portuguese 10-years also fell to 2.43%, down 25 basis points.
The spread on Spanish/German debt also fell to 100 bps in 10s and Italy is borrowing at 1.75% for 10 years, down 13 basis points. Those are some big moves to start the year as the market attempts to front-run the ECB.
