IIFT Daily Note with Peter Brown

Good news abounds

Posted by:  |  Time: 7:44 am  |  Topic:
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Now that we have the measure of Mrs Yellen, the market has settled down into a year end rally. The stock markets are reaching some serious milestones, 1800 on the S&P and 16,000 on the DOW. There seems little to stop the feeding frenzy this side of Christmas. Debt ceiling talks will be the next hurdle but whether the market focuses on that issue before year end is doubtful. So equities are a buy on dips and FX is range bound. Market is easy so reduce point expectations and trade the range.

It will take some news from left field to upset this trend. As yet I cannot see anything on the horizon.

Levels starting the week are  S&P (DEC) 1796  1788  Wall St (DFB) 15965 15900  Euro 1.3515  1.3470

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