IIFT Daily Note with Peter Brown

Tapering fears dominate

Posted by:  |  Time: 7:27 am  |  Topic:
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We are still focusing on the old chestnut of tapering. Wednesday is the FOMC statement and we will finally get the news whether we taper before year end. Anybody’s guess as to the outcome. Today we start from Friday’s sell off levels. Market looks a little cheap. Be prepared for volatility all the way to Year end anything can happen even a Santa Clause rally.

This morning we have European PMI’S which will dictate the mood. Expect big swings on little news. Not a market for the faint-hearted.

Levels today are Euro 1.3825  1.3710  S&P (DEC) 1772  1760  Wall St (DFB) 15730  15660

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