IIFT Daily Note with Peter Brown

It’s all about tapering.

Posted by:  |  Time: 7:37 am  |  Topic:
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The will he won’t he taper issue is dominating market moves. Any hint that he will, is causing the market to sell off. The fact is we will only know when Ben Bernanke speaks Wednesday. Anything prior to that is pure speculation. Fact is that if he announced tapering the market will probably settle down and rally. Uncertainty is what makes the market nervous. Ahead of Wednesday expect rang trading.

Elsewhere Draghi has been speaking. the usual we will do everything etc. etc. Euro slightly lower.

Today we have some stats to keep the market on it’s toes but basically we will range.

Levels are S&P 1640  1630  Euro 1.3380  1.3280

Market is putting in good moves so there are opportunities, money will be found fading the range.

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