SUNDAY 1/22/17; France Elections

Second-round primary elections are underway in France. The 






[Text is redacted. Purchase the 2017-01 chronology to enjoy January's economic and market history including Dow 20K and SPX 2.3K.]

US Treasury yields are; 2-year 1.20%, 5-year 1.94%, 10-year 2.47%, 30-year 3.05%. The 2-10 spread is 127 bips. The 5-30 spread is 111 bips. German bund 0.42%. The US-German 10-year yield spread is 205 bips. Japan 10-year yield 0.057%. Italy 10-year yield 2.01%. UK gilt 1.43%. France 10-year yield 0.92%.