The ECB Sees Continued Monetary Support

European yield are mixed, which has halted the climb in the Euro as Gilts are outperforming and the 10-year cash yield coming down from earlier highs despite the somewhat better than expected services PMI. The Bund yield meanwhile is up 0.6 basis points on the day, while Eurozone spreads are mixed, with the Italian 10-year up 1.1 basis points suggesting that at least so far Draghi has been successful in keeping tapering nerves down. European stocks are also mixed, following a stronger than expected EU Retail sales, with the FTSE and CAC higher and the DAX lower.

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