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It is the Monday after the ECB’s Mario Draghi waved the flag of surrender on Central Bank intervention.
The biggest losers … again .., are European stocks. The German DAX is down again (this time 2%) following losses last week. But the rest of Europe is down as well.
On the sovereign debt side (as of 9:50am EST on Monday), the biggest rise in 10 year sovereign yields goes to …. New Zealand and Australia. European 10 year sovereign yields are up only slightly.
So, no rebound following the negative reaction last Friday.
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