IIFT Daily Note with Peter Brown

Spike in Euro and Equities

Posted by:  |  Time: 7:03 am  |  Topic:  |  Comments: 1
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The Spanish bailout over the weekend has spiked the markets higher. Euro has broken through the 1.2625 level and the S&P sits just below 1350.

Which way this market will react from here is a total guess and I am going to wait and see before I attempt to trade it. My gut feel is  we are too high but it is possible for this market to rally from here.

I will updat this blog mid morning when we get a better feel for this market.

One Comment

Peter Brown

June 11, 2012



Market has performed very poorly to the Spanish bailout.
Levels are 1.2580 1.2670. As we speak we are breaking to the downside.
Spanish bond yield still above 6%. Overall this is bearish.