Weekly Eurozone Watch – Euro(con)fusion

March 23, 2013 4:00am by

 

Eurozone Image

 

Key Data Points
German 10-year Bund 8 bps lower;
France 3 bps wider to the Bund;
Belgium 5 bps wider;
Ireland 15 bps wider;
Italy unchanged;
Spain 2 bps wider;
Portugal 14 bp wider;
Greece 114 bps wider;

Large Eurozone banks weekly change,  -0.67 to -8.64 percent;
Euro$ down,  -0.67 percent.

Comments

  • Cyprus continues to work on a set of measures acceptable to the EU that will allow the opening of its banks on Tuesday.  Capital controls are widely anticipated.   Uncertainty remains high – Guardian
  • President Giorgio Napolitano asked center-left leader Pier Luigi Bersani on Friday to assess whether he can win enough support in Italy’s divided parliament to form a government and end the political deadlock left by elections last month. – Reuters
  • The flash PMI data suggest that the Eurozone  business environment deteriorated at a quickening rate in March…France saw the steepest downturn in business activity since March 2009…Germany showed worrying signs of growth fading in March. –Markit

 

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There will be painful aspects but the country must be saved.
– Nicos Anastasiades, President of Cyprus

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