News Headline Summary
Peripheral bond yield spreads are again wider this morning, led by Spain, where SP/GE 10s wider by 6bps as political tensions prompt market unease...
- Earlier this morning, El Confidencial reported that "Spanish PM will demand a relaxation on the deficit target for this year at the Eurogroup meeting later this week".
- Which risks undermining Rajoy's deficit reduction plan and potentially decrease the effectiveness of yet to be implemented OMT program. Of note, Spanish lawmakers continue to avoid seeking financial assistance via the OMT and have benefited immensely from bond yield spread compression which took place since the ECB pledged to do whatever it takes.
- Yesterday it was reported that Spanish PM Rajoy is coming under further pressure due to scandals with some opposition lawmakers calling for his resignation. Today, El Pais reported that the Anti-Corruption Prosecutor is to investigate Partido Popular accounts over the past 13 years.
07:46, 05 Feb 2013 -
15:42, 04 Feb 2013
With continued focus on the SP/GE 10yr government bond yield spread - in early January, the spread reached 364bps, the highest sustained level for 2013...
09:25, 29 Jan 2013
Euribor is flatter this morning, driven largely by touted short-covering following the steepening observed after the most recent announcement from the ECB on 3y LTRO repayments...
14:24, 28 Jan 2013
Euribor curve continues to steepen, as a continuation of the price action following the announcement from the ECB last Friday that banks are to repay EUR 137.2bln of 3y LTRO loans...
16:14, 24 Jan 2013
Euribor strip continues to trade heavy, with initial downside attributed to an earlier think tank reports which noted Draghi is likely to hold rates for time being, pricing out a rate cut in the near term
07:34, 23 Jan 2013
Short sterling opens with gains of 1-3 ticks in the strip following the dovish comments from BoE's King late yesterday...
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