Список проголосовавших за комментарий " European Summary<p><strong>European Debt Sees Mixed Session, Le Pen Odds Tick Up</strong></p><ul><li>Eurozone core/periphery spreads are narrowing today as some of the risk aversion of recent weeks subsides. German year-on-year wholesale price inflation touched a five-year high of 4.0% in January but the European Central Bank has shown no signs yet of complacency in its battle to get eurozone inflation back to 2%. The ECB will taper its asset purchase program to EUR60 bln/month in April but ECB President Draghi has said the central bank stands ready to reverse course if reflation does not continue. The European Commission warned France that the incoming president (election in April) will have to implement austerity or risk violating the European Union's Stability and Growth Pact. France's fiscal deficit was 3.3% in 2016</li><li><strong>New Issuance:</strong><br/> <ul><li>Italy sold EUR2.75 bln of BTPs maturing in October 2019 with a gross yield of 0.25% and a bid-to-cover ratio of 1.48</li><li>Italy sold EUR1.00 bln of BTPs maturing in May 2020 with a gross yield of 0.37% anda bid-to-cover of 1.85</li><li>Italy sold EUR2.50 bln of BTPs maturing in October 2023 with a gross yield of 1.59% and a bid-to-cover of 1.34</li><li>Italy sold EUR986 bln of BTPs maturing in August 2039 with a gross yield of 3.31% and a bid-to-cover of 1.76</li><li>Italy sold EUR 1.26 bln of BTPs maturing in march 2047 with a gross yield of 3.43% and a bid-to-cover of 1.79</li></ul></li><li><strong>European Economic Data:</strong><br/> <ul><li>Germany's wholesale price index rose 0.8% m/m in January (4.0% y/y), beating forecasts but slowing from December's 1.2% pace<br/> <ul><li>The year-on-year pace was the highest since 2011. CPI inflation in Germany is running at 1.9% y/y and PPI growth is 1.0%. The European Central Bank is set to taper its asset purchases by EUR20 bln/month to EUR60 bln/month on April 1</li></ul></li><li>Bloomberg now has French Presidential Candidate Le Pen's probability of victory at 33%. She is still seen as a long shot but a lot of analysts are understandably risk averse following the «Leave» and «Trump» results in 2016</li></ul></li><li><strong>Yield Check:</strong><br/> <ul><li>France, 10-yr OAT: -1 bp to 1.03%</li><li>Germany, 10-yr bund: +1 bp to 0.33%</li><li>Greece, 10-yr note: +2 bps to 7.30%</li><li>Italy, 10-yr BTP: -4 bps to 2.23%</li><li>Portugal, 10-yr PGB: -12 bps to 4.03%</li><li>Spain, 10-yr ODE: -5 bps to 1.65%</li><li>U.K., 10-yr gilt: +3 bps to 1.28%</li></ul></li></ul>"