France 10y is arnd 2.5bps tighter to Germany apres Hollande, CAC up arnd 0.2%, with the Dax down %0.5. Caveat: UK bank holiday today, so very little actual flows.
I am amazed that a sentence "I think gold is a great thing to sew in to your garments if you're a Jewish family in Vienna in 1939 but I think civilized people don't buy gold." can fly in the US without outrage. Hitler tried hard to be that explicit in Mein Kampf. in a civilized country the guy would have to resign immediately! nobody would invest with him. sorry for the rambling... btw many "uncivilized" Jews survived the camps only because of the gold they brought with them in their socks - talking about the risk management...
Australian credit growth has collapsed http://www.creditwritedowns.com/2012/05/chart-of-the-day-australian-credit-growth-has-collapsed.html
wonder who paid for this add in mainstream au news. looks like blessing has been given for property prices to go down. Hear that hiss? It's house prices deflating http://www.smh.com.au/opinion/politics/hear-that-hiss-its-house-prices-deflating-20120504-1y42s.html