News Headline Summary

German Bunds have now closed the gap and are trading near unchanged level after opening sharply lower following the statement on Greece by the EU/IMF overnight

Update details:

- EUR/USD failed to break 1.3000 to the upside and since trended lower as market participants question the latest plan by lawmakers to preserve stability in the bloc.
- The main issue that is of concern is the debt buyback, which according to some analysts should be around EUR 0.35 on the euro to achieve a reasonable level of debt relief. Domestic accounts will likely be encouraged to accept lower price, whilst international investors would be offered a more attractive rate.

Print 10:34, 27 Nov 2012 - Market Analysis - Source: RANsquawk