Forex Flash: Bond auctions highlight early week action in Europe – Deutsche Bank

By FXstreet.com,  June 25, 2012, 04:32:00 AM EDT

FXstreet.com (Barcelona) - In Greece, the Troika staff will return to Athens today in preparation for a formal review of the second loan program. According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, if recent history is any guide we can expect headlines around Greece's current fiscal adjustment progress to trickle through as the review unfolds." they speculate.

Today will also see Spain officially apply for the EU bank recapitalization assistance with a MoU due before the Eurogroup meeting on the 9th July. Spain's Economy Minister De Guindos, PM Rajoy and Budget Minister Montoro are all expected to speak at 12pm ( CET ) at three separate events.

In other news concerning Spain, investors will brace for an auction of Spanish bills auction (3m/6m) tomorrow. In addition, Italy will also hold bond auctions on Tuesday and Thursday as well as a bills auction on Wednesday. We also have $99bn in UST supply this week across 2s/5s/7s.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

Referenced Stocks: CET



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