Spanish yields falling below French yields for the first time since the GFC is as much a reflection of Spanish success as French failure. And the trend is likely to persist as Spain reaps the benefit of cheap energy from renewables and French political instability continues (3/6)

Will China’s Draghi moment be enough to reverse Japanification? Beijing may be signalling whatever it takes but it will take bolder reform to end the bad debt crisis. Bad news for the eurozone which needs the boost to growth, but a good opportunity to sell Chinese stocks? (4/6)