Not sure that is a vote of confidence…
Spanish 10-year bonds are trading at 257 bp over German bunds early in the week with sovereign debt concerns still top of mind. Spreads narrowed to 220 bp a week ago and widened out as the week wore on (and the euro slumped anew).
EUR/USD is consolidating losses, capped by sellers in the 1.3180/00 region while bids are eyed at 1.3125 the 200-day moving average down at 1.3102.
