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Sentiment is slanted slightly downwards this morning as we approach the afternoon session in Europe. Stocks are mixed and the core European government bonds are posting solid gains.
The tedium over the prolonged Greek PSI talks continue after, not for the first time, rumours yesterday afternoon that a deal was done proved to be unfounded. Handlesblatt reported this morning that European officials are now seeking to involve central banks in the haircut.
Also weighing on opinion has been the shocking unemployment figures in Spain, however losses for peripheral bonds and the Euro have been capped by decent Spanish and French auctions as well as recent comments from Chinese Premier Wen that China are mulling greater investment into Europe’s bailout funds. This input from the East actually caused the Euro to briefly rally into positive territory versus the Greenback.
It has also been confirmed that there will be a Eurogroup meeting on Monday. February 6th, to discuss the second program for Greece.
Ahead we’ve got US jobs data as well as the possibility of a number of US companies reporting.
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