Flash: France lacks impetus to adequately restructure - BBH

FXstreet.com (Barcelona) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman notes that France is coming into focus as it occupies a unique space within the European conundrum.

He notes that the nation had neither the fall of the Berlin Wall to force it to restructure, as Germany did , nor the capital strike, that forced the periphery to capitulate and reform. He writes, “It´s bonds continue to trade like (somewhat) higher yielding bunds. Consider that here in Q2, French 10-year yields have risen a little less than Germany's (44 bp vs 48 bp).”