Some Highlights:
- Draghi expressed confidence that QE was working in increasing growth and inflation
- The Norges bank cut its policy rate by 0.25% to 1.00%
- June was a very weak month for European investment credit markets
- Over the course of the month the Barclays Euro Aggregate Corporate Index widened 20bp versus government bonds
- In spite of the Greece tensions, the latest Eurozone data is fairly encouraging
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