IIFT Daily Note with Peter Brown

Muted reaction

Posted by:  |  Time: 7:34 am  |  Topic:
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A very disinterested reaction to yesterdays press conference. Again they did nothing concrete to end this crises so we muddle on.

Beware the Swiss today, market expecting them to announce a peg of some sort, putting a bottom on the Eur/Chf exchange rate.

Elsewhere we might stay range bound on the markets untill September. Markets are tired, too much volatility. Eventually we will have another attack to the downside but market is thin at the moment so may take some time to build up steam.

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