Recession Risks Roar Back To Life In Europe After Weak PMIs

Authored by Simon White, Bloomberg macro strategist,

Rates in Europe are marking higher their implied likelihood of a recession after a weak set of PMIs in the region. Euribor futures are ~10 bps higher and the euro fell more than a big figure lower.

November flash PMIs for France, Germany and the euro zone were released this morning and were weaker than expected across the aboard.