The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
from Morning Bid with David Gaffen:
Friday’s jobs report will possibly alleviate a bit of a confounding period in the market, where the Treasury curve, particularly the long end, has been under intense selling pressure in a counter-intuitive move, seeing as how data has been largely lackluster.
G20 finance ministers and central bankers meeting in Istanbul will pledge to act decisively on monetary and fiscal policy if needed to combat the risk of stagnation, according to a draft communique obtained by Reuters last night. As has been customary at these summits, a lot of the discussion implicitly centres on Germany.
Alexis Tsipras is not for turning, not yet anyway.
Speaking in parliament on Sunday night the new Greek premier said he would not accept an extension to Greece's current bailout, something the euro zone is urging him to do, and stuck with austerity-ending pledges such as giving free food and electricity to those who need it, reinstating civil servants who had been fired as part of bailout conditions and raising the minimum wage. Privatisations have already been halted.