IIFT Daily Note with Peter Brown & David McWilliams

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

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Update:

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.