IIFT Daily Note with Peter Brown

EU Summit

Posted by:  |  Time: 7:20 am  |  Topic:
Trading Is At Your Own Risk - Read Our Terms & Conditions

Reports comming from the summit of a deal on re-capitalizing banks from rescue funds. If true has the potential of giving the market a boost even bigger than we have initially seen. We need detail and confirmation from Merkel. Big u-turn on her part if true. Apparantly she left the meeting early.

Secret is the reaction of the bond markets especially Italy and Spain. If the deal is concrete and we find out where the funds are comming from we may get a very serious correction.

Levels are impossible to predict here. If the deal is true anything is possible on the top side. Howvere one word of cold water from Merkel and the market will collapse.

We have to wait and get more detailed information.

Comments are closed.