Higher Spanish Yields are Pressuring European Stocks

European yields are mixed, which is helping to buoy the Euro. German and French 10-year yields are heading south, with Bunds leading the way, amid a fresh wave of intra-Eurozone save haven flows as Spanish and Italian bonds are under pressure. Gilts are marginally higher after the September services PMI beat forecasts. The Eurozone services PMI reading also was revised up unexpectedly, but the deepening constitutional crisis in Spain is weighing on sentiment as Spain’s King backed Madrid rather than try to calm nerves and get both sides to negotiate. Reports that the ECB is urging banks to make more provisions for non-performing loans.

Continue reading: https://www.iforex.com/news/higher-spanish-yields-are-pressuring-european-stocks-42841

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