IIFT Daily Note with Peter Brown

Not in a range

Posted by:  |  Time: 7:03 am  |  Topic:  |  Comments: 2
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The reaction to last week’s summit was a lot more negative than first expected. Everything broke out of the ranges yesterday. We saw a slow continuous sell off across the board. Will that continue today. Well the key is the bond yields. Italy at 6.5% . If we head towards 7% we will continue to sell. The major support is at 1.3150 while a sustained break below 1230 will target 1200.

If the mood is bearish first up it could continue all day. Bounces should be short lived.

2 Comments

Paul

December 13, 2011

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Hi Peter,
is there a webite with a timetable of gov bond auctions? I dont see it on forexlive.

Thanks
Paul

Peter Brown

December 13, 2011

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Hi Paul,

Don’t know of a website that list them.
Spain at 9.30am 12m and 18m bills.

On Forexlive this morning

Peter