dow futures, page-23

A lot of talk of this being the big euro print.

The seniority changes will certainly help bond rates - looks like Germans may have acquiesced on that one(?)

And the centralised supervisory roles are part of their push along with Fiscal controls as I understand.

But need to cut through the inevitable spin to determine details of any funding - how much, what terms, where it comes from (rehashed?) and if and when it gets paid.

Don't forget up until now there was a strong political impasse.

Need to see what M. says and sift through it carefully IMO.