Spreads over German benchmarks are rising again in late European trade with Portuguese bonds now at their widest spread over bunds of 167 bp since the crisis began. Same for Spain, now at 102 bp. Greece is below last week’s spike above 400 bp, but is still very wide at 367 bp, all in the 10-year maturity.
EUR/USD is consolidating essentially were we closed out last week, around 1.3660.