• UK FTSE +1.4%
  • German DAX +0.7%
  • French CAC +1.1%
  • Spain IBEX -0.4%
  • Italy MIB +0.7%

Big improvements in periphery bond yields but not much improvement in periphery stocks.

With Europe winding down, it might be time to get off the dollar train. It`s been a good ride, and for not particularly good reason. Cable is looking especially stretched.