IIFT Daily Note with Peter Brown

Clouds Gather

Posted by:  |  Time: 7:15 am  |  Topic:
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Italy was downgraded this morning. Not a big thing in itself but keeps the trend going in the one direction.

Outside the FOMC to tomorrow there seems little to prevent a meltdown. Bernanke’s ‘helicopter speech’ of 2001 is being held up as the example of what he might do. Anyway you look at it he either eases monetary policy through printing cash or we will be at 1100 on the S&P.  Clouds are gathering over Europe and amid political inaction we will just head lower. 1.3000 on the Euro (FOMC) aside.

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