FRANCE AUCTION RESULTS: LT OATs
------------------------------------------------------------------------ 3.20% May-...
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MNI: EUROZONE MAR PPI -1.6% M/M, +1.9% Y/Y
- MNI: EUROZONE MAR PPI -1.6% M/M, +1.9% Y/Y
FOREX: FX OPTION EXPIRY
Of note:
EURUSD 1.08bn at 1.1325.
USDCNY 1.46bn at 7.3000.
EURUSD 3bn at 1.1390/1.1400 (thu).
USDJPY 1.56bn at 143.00 (thu).
EURUSD 1.33bn at 1.1300 (fri).
- EURUSD: 1.1275 (538mln), 1.1325 (1.08bn), 1.1350 (372mln), 1.1400 (632mln).
- GBPUSD: 1.3350 (284mln).
- EURGBP: 0.8500 (489mln).
- USDJPY: 143.00 (398mln).
- USDCAD: 1.3815 (301mln), 1.3830 (543mln), 1.3845 (305mln), 1.3850 (356mln).
- AUDUSD: 0.6500 (709mln).
- AUDNZD: 1.0800 (405mln).
- USDCNY: 7.3000 (1.46bn).
- EURSEK: 10.9600 (542mln).
GERMANY: FAZ-No Second Round Of Chancellor Voting Today
FAZ reports that there will not be a second round of voting for a new chancellor today following centre-right Christian Democatic Union (CDU) leader Friedrich Merz's unexpected defeat in the first round of voting in the Bundestag a short time ago (see 'GERMANY: Merz Falls Short In First Round Of Chancellor Voting', 0925BST). The next vote has to take place within two weeks, once again with an absolute majority (316 votes) required. Merz won just 310 in the first ballot. Taggespiegel: "... according to an SPD parliamentary group spokesperson, the [second round] election could not take place until Friday at the earliest."
- As Jessica Parker at the BBC notes, "This is so embarrassing for Friedrich Merz. His whole pitch - of being an antidote to the weakness & division of the last govt - has crumbled on day one."
- The election of the chancellor is a secret ballot, meaning it is impossible to know which CDU/CSU or centre-left Social Democrat (SPD) lawmakers voted against Merz. What is clear is that at least five did so. The total seats held by the opposition Greens, Alternative for Germany and Die Linke is 302, while 307 MPs voted against Merz. A total of 620 valid ballots were cast, with one ruled invalid. This means nine lawmakers did not vote.
- Spiegel: "We are assuming full support among us," a [SPD] source says. No one was missing. One member of parliament blames the CDU/CSU: He suspects the dissenters in the CDU and CSU are trying to make the SPD look bad."
