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The Euro-bounce continues – for how long?
Government debt yields plunged across Europe again today, helping to pull EURUSD back well back above 1.30 again, but for how long?. Meanwhile, core US CPI data pushes to a new 3-year high. The after-effects of yesterday’s strong Spanish debt auction are seeing EU sovereign spreads tightening sharply again today, though to varying degrees. At the long end of the curve, the yield on Spanish 10-year debt as of this writing at close to a two-month low just above 5.00% (some 33 bps lower) while Italy’s 10-year yields have only come in 20 bps and are still a rather lofty 6.37%. Elsewhere, Belgian and Austrian 10-year ... (full story)
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