A calm start to the new trading week. Everyone awaits any news from the Merkozy meeting. France and Germany say they are committed to developing a plan forward but many disagreements remain. The long line of meetings continues without bearing any reasonable results, only more talk and half measures. We will find out in a short while if any significant news ocurs.
10-Year Yields:
Italy 7.08%
Spain 5.64%
Belgium 4.60%
France 3.32%
U.K. 2.04%
U.S. 1.97%
Germany 1.88%
Germany is becoming sticky under 1.90% showing that money continues to move there for safety. Italy remains over 7% although it is currently testing lows of the session at 7.08%. France remains over 3.3%. Thus, the market worry remains elevated but some calm is in place as the Merkozy meeting is watched.
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