Yellen Testimony Will Drive Markets This Week

European yields are edging higher with Bund and Gilt futures slightly in the red, with core yields moving higher in tandem with European stock markets. The FTSE 100 underperformed amid a fresh bout of Sterling strength, but elsewhere in Europe stock markets are picking up with the French CAC outperforming. Eurozone spreads, which initially widened are now coming in, partly maybe helped by the ECB’s ongoing asset purchase program, which may partly contribute to the ongoing swings in spreads and the different developments in yield curves.


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