Posted Jul 1, 16:17

Bund Yields See no Grexit

Eurozone PPI (MAY) (m/m) Jul 02 09:00
Eurozone PPI (MAY) (y/y) Jul 02 09:00
Bund Yields See no Grexit Chart
7 hours ago: 

The Bunds-Euro relationship remains intact, as both continue to converge along the crucial trendline support since the April bottom. With yet another yields bounce off the support today, bunds are further eliminating Grexit scenario for now as does the single currency.   

The initial rise in the euro and bund yields emerged upon PM Tsipras' announced counterproposal to creditors, expressing his acceptance of their conditions along 5 amendments on pensions, VAT, fiscal/structural measures and labour markets.  But the euro rally was quickly eroded as soon as German finance minister Schauble and later Chancellor Merkel announced that any counterproposal from Tsipras were considered null as long as Sunday's scheduled referendum was not cancelled.

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