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US deficit concerns, Greek apprehension, yield jitters
Euro-area rates continued their rise on Greek worries. In the US sentiment was up on the back of strong services numbers, but was quickly pulled down again by the large US March trade deficit. The result on equities was modest but nevertheless negative with S&P500 down 1.2% to 2,089.46. Likewise the 10-year UST was in the red up by 4bp ending at 2.19%. The EUR/USD ended at 1.1232. The US trade deficit rose to a 6-year high in March and could push Q1 GDP growth into negative territory. The increase in March was mainly due to the settlement of a West Coast dispute, which had held back imports. The Danish Central bank ... (full story)