IIFT Daily Note with Peter Brown

Small bounce

Posted by:  |  Time: 8:49 am  |  Topic:
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After yesterday’s selloff we have a small bounce first thing this morning. Awaiting details of the meeting today before the G20. Greek prime minister looks determined to go ahead with the referendum. He faces a confidence vote on Friday. All this will lead to a skittish market. Expect volatility every time one of them speaks. Merkel and Sarkozy will try to talk this up but the reality is we are probably facing Greek leaving the Euro. Bank shares are the key, keep an eye on them. And the Italian bond yield.

Sell on rallies is the key, this problem is not going away.

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