- Late on Friday, Fitch downgraded France to AA+ from AAA; outlook stable. This morning, FR/GE 10s wider by 3bps.
- Opposition leader Alfredo Perez Rubalcaba called for the immediate resignation of Spanish PM Rajoy and warned that his refusal to stand down was causing incalculable damage to the country. His call was echoed by other opposition leaders. Although PO/GE 10s wider is flat at 589bps. As a reminder, PO/GE 10s spread widened by over 60bps to 620bps, widest since Dec-12 levels.
- Overnight in Asia, Chinese GDP for the Q2 came in at 7.5%, in line with exp. China Stats bureau said the economic slowdown is partially a result of slowing potential productivity and is also partially due to deliberate efforts of structural reform.
Print 06:41, 15 Jul 2013 - Market Analysis - Source: RANsquawk
RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: