Yields lower after weaker PMI data. ECB ahead tomorrow
The European stocks are endiing the session with mixed results after weaker PMI data and ahead of the ECB meeting tomorrow (do they cut?).
The provisional closes are showing:
- German DAX, +0.3%
- France’s CAC, -0.2%
- UK UK’s FTSE, -0.6%
- Spain’s Ibex, +0.7%
- Italy’s FTSE MIB, +0.57%
In the benchmark 10 year notes, yields are ending the session lower, with Italian bonds enjoying strong demand today (-10.9 basis points). France’s yields traded to a record low at -0.126%.
In a sign of the apocalypse, investors now accept a lower yield on Greek 10 year debt vs US 10 year debt. Greek 10 year yield is at 1.992% while 10 year yields in the US area at 2.048% currently.