Another ‘Oh FFS’ Moment For Brussels: Macron ‘Yellow Vest’ Concessions Set Stage For Budget Battle

Another ‘Oh FFS’ Moment For Brussels: Macron ‘Yellow Vest’ Concessions Set Stage For Budget Battle

I don't think anyone should make too big a deal out of this just yet because we're still well off the Le Pen levels, but it's worth noting that the OAT-bund spread is leaking wider on the heels of Emmanuel Macron's "yellow vest" concessions. It looks like a block trade that crossed just before 9:00 AM in London pushed this thing out to 48bps, the widest since the elections in 2017 when everyone was panicking about the prospect of a literal Nazi becoming President of France. (Bloomberg) The
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2 thoughts on “Another ‘Oh FFS’ Moment For Brussels: Macron ‘Yellow Vest’ Concessions Set Stage For Budget Battle

  1. CAC better than DAX. Spreading them was profitable. CAC not dependent on auto like Dax. It has several luxury stocks, and an oil conglomerate. Both central european indexes but different components/sectors. It shows that outside there is not just indexing, ETFs, some investors still do the stock-picking. As soon as the auto sector recovers Dax will outperform CAC. The trade war is only the main issue for autos. Others are also electric vehicle huge investments, diesel forbidden in several German cities, and new rules on tests. But long term Daimler, Vow, Bmw are good stocks especially after a 30-40% drop in one year.

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