Key Data Points
German 10-year Bund 9 bps lower;
France 10-year 6 bps wider to the Bund;
Italy 13 bps wider;
Spain 16 bps wider;
Portugal 46 bps wider;
Ireland 6 bps wider;
Greece 99 bps wider;
Large Eurozone banks up 0-5 percent;
Euro$ down 0.66 percent.
Growing fears Greece unlikely to pass €13.5bn reform package needed to unleash EU aid;
Eurozone unemployment rate hits record high at 11.6% with 18.5m people out of work; Italy sold 10 year bonds at a yield of4.92%, the lowest since May 2011.
For Germany, economics is a branch of moral philosophy. Growth is the prize for ethical behaviour. On the part of the individual – by saving – and on the part of the group – through budgetary equilibrium.
- Mario Monti, Italian Prime Minister
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