IIFT Daily Note with Peter Brown

Range bound

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We have an Italian bond auction today. 1 year so it should go ok. Results about 10am. Otherwise very quiet. Market is range bound for the moment 1.2820  1.2660 on the Euro  and 1291 1280 on the S&P.

When the market is like this it’s a game of small points. 50 is a good day. Risk reward is not acheivable, so be patient. We will need some news to get us out of these ranges.


Gerry McEvoy

January 12, 2012


Hi Peter,

Any views on when the oil straddle trade might set up consistently again.



Peter Brown

January 12, 2012


Hi Gerry,

The market is not volatile enough to create the moves needed for straddle trades.
We are in range trading mode.

We can’t predict when we change from one to the other.