- The recent Spanish treasury announcement that they are to issue up to EUR 4.5bln in bonds on Thursday is also weighing on Spanish paper.
- It is also worth of note that the Spanish short selling ban expired on Thursday and has not been reinstated.
- Italian banks have been under-pressure throughout trade today, and after a period of consolidation have continued to print fresh lows. This comes after the regulators in Italy will broaden their probe of domestic banks given the recent scandal that has effected Monte Paschi.
- A lack of US data and newsflow has caused an increase in attention to news over the weekend that Spanish PM Rajoy is coming under further pressure due to scandals with some opposition lawmakers calling for his resignation.
- Political instability in Europe has been of particular focus in recent months, especially after the resignation of the Italian PM Monti and ahead of Italian elections at the end of this month.
Print 13:19, 04 Feb 2013 - Market Analysis - Source: RANsquawk
RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: