• ESRB is publish a ‘dashboard warning system’
  • ESRB welcomes commission banking union proposal
  • Single supervisory mechanism (SSM … bloody hate acronyms) is a vital part of banking union and is welcome non-euro members that wish to opt in
  • Austerity is depressing growth in some regions ( no shit sherlock)
  • Need to act on gender imbalance at ECB,ESRB ( More women employees?)
  • ECB needs a complete executive board now, Mersch nomination for ECB board should go through.

EUR/USD, off the lows of 1.2907 around 1.2927 now, and i’m being told that Middle Eastern names were among the buyers just under 1.2910. Seems also there was some confusion over where exactly the Spanish 10 yr bond yields were earlier, with reports they were over 6% ,but this appears to have been incorrect .