Earnings lift global markets

With very good earnings from Catepillar as well as a host of other names have helped lift this market again, and make it 10 in a row for the Nasdaq.
Bunds have seemed to turn as it bounces of the 120.50 level and is in range to test 122.50 again, the top of the previous run up.

Euribor spreads have seen action later in the day as spreads flucatuated within the range and provided good trading opportunities. Sep10-Dec10 spread still hasn't breached 37 level hence I remain in favour of the downside. Further out months continue to feel a bit of pressure as the spreads have a downward bias.
Short sterling spreads popped on reports the UK would be the first to start raising rates. They have since come off and again have stayed in a range.
Data is still light, with earnings providing the catalyst as volumes are still down in this summer trading.