With French government bonds trading at record low yields under 1.5%, it is hard to argue that the troubled socialist nation is ‘priced’ for either recovery or credit risk… but then again, thanks to Draghi’s promise and domestic banks’ largesse, none of that matters. With joblessness at record highs, the following chart of France’s “recovery” shows near-record high bankruptcies and record-low profitability. Oh the beauty of socialism…as Europe’s core diverges dramatically.
“Recovery”?
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The widening popularity gap between Angela Merkel of Germany and Francois Hollande of France reflects the countries’ diverging economic performances.
In June, the German unemployment rate fell to 5.1 percent, according to Eurostat. That is half the rate in France and the country’s best reading since reunification.
Source: Maxime Sbaihi of Bloomberg Briefs ( @MxSba )
via Zero Hedge http://ift.tt/1vCZOJg Tyler Durden