The German government will sell debt totaling EUR 328 bln next year, or $465 bln at present exchange rates.
Throw the rest of the euo zone into the mix and you have quite a bit of fresh debt to be absorbed by the markets, just like in the US…You don’t hear very much about high levels of European debt though, do you?
EUR/USD is consolidating losses after modestly extending its range to the downside. Asian buying has helped slow the slide.
Cable is edging back above 1.65 after a dip as low as 1.6490.
