IIFT Daily Note with Peter Brown

No new highs, but volatility continues.

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Nothing significant from the G7 over the weekend. Ukraine resolution, so that is off the radar. Market sold hard on Friday afternoon and bounced slightly overnight. the up down moves continue and they are large. S&P reached 1844 and then fell to a low of 1830. Impossible to say which way we will break today. Chance of a quiet one as there is no news in the US. Europe has CPI and German IFO. Not big movers so we expect a calm trading day .

I favour selling the rallies on the stocks. And we have a strategic short on the AUD.

Levels are  Euro 1.3760  1.3700 S&P (MAR) 1839  1830 Wall St (DFB) 16160 16060 Dax (DFB) 9670  9600

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