Keep an eye on these government bond auctions, especially for Spain and Portugal, as a bad auction can provide the catalyst for further risk aversion: June 9th: 09:00 GMT Germany: 2y Schatz Auction €6bn 09:30 GMT Portugal: 3y and 10y auctions €1.5bn 09:30 GMT UK: New 2020 Gilt £3.75bn 17:00 GMT US: 10y Note Auction $21bn June 10th: […]
Archive:
Portugal
What a day, I wake up to the news that Fitch has downgraded Portugal, leading to a strong sell-off in Euro–reaching a ten month low against the dollar. This news was not tremendously surprising, and I expect the situation in Europe will get far worse before getting better, especially if Greece doesn’t find a funding […]