Список проголосовавших за комментарий " European Summary<p><strong>European Yields Dip</strong></p><ul><li>European sovereign debt yields are moving generally lower this morning during a session very light on economic new flow. French industrial and manufacturing production rose much more quickly than expected in November and there is little reason to believe that the trend will reverse in December, judging by strong manufacturing PMI data for that month. The eurozone periphery, however, still faces risks according to investors in Portuguese sovereign debt. The 10-year PGB yield is up four basis points today to 4.00% and this yield premium of 372 basis points to the German Bund of the same tenor implies very significant risk for debt restructuring. Portugal's finance minister made some remarks on Monday about his country meeting its deficit target for 2016 but market pricing suggests that Portugal's woes are far from over. Portugal's largest bank, Millennium BCP, saw its stock decline by more than 10% today as it raised EUR1.33 bln in a rights issue</li><li>Turkey's central bank reduced its FX reserve requirements for Turkish banks to free up $1.5 bln in dollar liquidity. It now takes 3.77 lira to buy one dollar, down from roughly 3.00 at the time of the failed coup attempt last summer. President Erdogan's consolidation power in the wake of that effort to seize power and his politicization of monetary policy has hurt the lira in an environment that was already difficult for emerging market currencies</li><li><strong>European Economic Data:</strong><br/> <ul><li>Switzerland's unemployment rate remained at a seasonally adjusted 3.3% in December, as expected</li><li>In France, industrial production jumped by 2.2% m/m in November (1.8% y/y), beating both estimates and October's 0.1% dip</li></ul></li><li><strong>Yield Check:</strong><br/> <ul><li>France, 10-yr OAT: -1 bp to 0.79%</li><li>Germany, 10-yr Bund: -1 bp to 0.28% </li><li>Greece, 10-yr note: -1 bp to 6.81%</li><li>Italy, 10-yr BTP: unch at 1.90%</li><li>Portugal, 10-yr PGB: +4 bps to 4.00%</li><li>Spain, 10-yr ODE: -3 bps to 1.46%</li><li>U.K., 10-yr Gilt: +1 bp to 1.43%</li></ul></li></ul>"