European equities stumble but the big story is bonds. Closing changes for the main European bourses: UK FTSE -0.9% French CAC -0.9% German DAX -0.6% Spain IBEX -0.9% Italy MIB -0.7% The bond market continues to rally on hopes for QE. German 10-yer yields down 6 bps to 0.72% French 10s down 6 bps to 0.97% Italy 10s down 3 bps to record 1.94% Spain 10s down 5 bps to 1.78% I can’t find a reason to buy bonds this cheap unless you think you can sell them to the ECB later. ;-)
Posted on: Mon, 08 Dec 2014 16:57:23 +0000
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