Key Data Points
German 10-year bund 23 bps higher;
Italy 80 bps tighter;
Spain 75 bps tighter;
Portugal 54 tighter wider;
Ireland 24 bps tighter;
Greece 91 bps wider;
French, Italian, Spanish banks up 5-15 percent.
Comments
Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough — Mario Draghi, European Central Bank
Take a look at the cover of this week’s Economist. Could this be the inflection point? Structurally? We doubt it. Policy inflection point? Maybe. The markets sure seem to think so.
Time to fire up the printing press, Mario. What say you, Angela?
