IIFT Daily Note with Peter Brown & David McWilliams

Stand back and watch.

Posted by:  |  Time: 8:50 am  |  Topic:
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This market is liable to swing either way between now and Monday. Trick is to sit back and watch rather than trade it. There will be plenty of opportunity when the dust settles. We are caught between a massive Central Bank intervention to stabilise the Euro and total collaspe should the Greek situation blow up. My guess is the Greek outcome is benign. Hot air on the threats to throw out the bailout.

More important is Spain and Italy and their bond yields.

Trading ranges were broken yesterday, it would be madness to try to put limits on where this market could get to. Anything is possible here.My guess is a damp squid on the Greek election, a small bounce for a few days and then back to the sell off.

 

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