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The Eurozone: The French bond spread over Germany has blown out.
China: The renminbi reached its weakest level against the dollar in over a year.
Emerging Markets: Brazil’s President Lula directed his team to include a range of tax relief measures for the poor in the fiscal package introduced late last week, diminishing the plan’s potential to generate much-needed savings. The Brazilian real hit a record low.
Commodities: Coffee futures took a hit as the Brazilian real reached a record low.
Equities: Only small caps are trading at multiples below their 10-year average.
Credit: Corporate debt trades have been massive, fueled by ETF flows.
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Edited by William Villacis
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