News Headline Summary

Bundesbank says further Greek aid not task of ECB and German economic outlook to worsen as year ends

- Sees ECB bond buying as critical
- Government has let tax windfall slow pace of consolidation
- Calls for expansive German fiscal policy not justified
- Slowdown hurting export sector but whole economy could be hit

Reaction details (11:03)

- No reaction is seen across asset classes following this report as these comments are in-fitting with those seen last week from German officials.

Analysis details (11:04)

- Last week Bundesbank's Dombret said ECB measures may leave difficult legacy for financial stability and sees cyclical and structural pressure on German bank profits.

19 Nov 2012 - 11:00 - Fixed Income Economic Commentary - Source: NDRC

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