Far-right parties called street protests for this Saturday as presidential front-runner Calin Georgescu was detained and questioned by the police, before the prosecutors pressed charges and placed him under judicial control, but refrained from keeping him under arrest. The ability of the surprise winner of the first round of last year's cancelled election to contest the election re-run this year hands in the balance, amid reported pressure from the new US administration to allow him to run.
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{GE} BUNDS/SWAPS: Continued outperformance in the front end of ASW spreads has taken the Schatz/Buxl ASW curve to fresh cycle highs near 50bp (based on 3-month Euribor ASWs).
Fig. 1: Schatz/Buxl ASW Spread (Vs. 3-Month Euribor)
Source: MNI - Market News/Bloomberg