IIFT Daily Note with Peter Brown

Good news

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Yesterday’s Spainish and Italian bond auctions went very well. Finally the cash poured into the banks via the 3 Year deal is getting through. Short term this will support the Euro and equity markets. Can we get a squeeze out of the present range. Well a break of 1.2860 is the key for the Euro and 1300 for the S&P future.

Short term we could see the Euro target 1.3050  and the S&P last year’s high around 1340.

 

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