European major indices close down sharply on the day

On the day:

• German DAX, -2.38%
• France’s CAC, -2.0%.
• UK’s FTSE 100 -1.3%
• Spain’s Ibex -1.96%
• Italy’s FTSE MIB -2.0%

For the trading week:

• German DAX, unchanged
• France’s CAC, -0.1%
• UK’s FTSE 100, -1.1%
• Spain’s Ibex -0.66%
• Italy’s FTSE MIB -2.3%

In the European debt market, the yields are mostly higher on the day with the exception being the UK 10 year yield. UK retail sales was much weaker than expected:

For the week, the benchmark 10 year yields in Europe all reached new cycle highs:

• German moved from 0.841% to 0.966% currently. The high yield reached 0.982% this week
• France moved from 1.342% to 1.421% currently. The high yield reached 1.436% this week
• UK moved from 1.904% to 1.971%. The high yield this week reached 2.028% this week
• Italy moved from 2.523% to 2.671%. The high yield reached 2.6849% this week
• Spain moved from 1.793% to 1.932%. The high yield reached 1.959% this week