Web links for 23rd May 2012
Chris is not impressed with Beecroft
Rick is good on Beecroft
Bloomberg reports that “France finds itself in a sweet spot, drawing the strongest auction demand since the European debt crisis began in 2009 as bond investors give Francois Hollande, the country’s first Socialist president in 17 years, the benefit of the doubt.” French government 10 year bonds are at 2.739%, the lowest since October and down from 3.17% just before the first round of the presidential election. The spread between French and German bonds (the extra interest investors demand for French bonds because they are perceived as riskier) has fallen to 133 points, down from 149 on April 20.