So it is back to business as usual as the Equities rallied strongly friday afternoon after a bit of a mixed week. Euro Indices came of quite strong with the Dax pushing 9200, FTSE 100 testing 6400 and the EuroStoxx testing 3100. The US indices have come off relatively less, but now are in mid range territory from high to recent low. I feel like there is a bit more resistance then usual as the markets are likely to consolidate, however the plunge in the VIX on friday might suggest a bit more upside to come.
Euro Indices are likely to remain under more pressure as data coming out has not been good and this mornings German Factory orders was a big miss. This coupled with the fact that the ECB is staying put with its current program suggests there is limited upside for now.
Not much to report on the Bond front, I'm using pullbacks in Short Sterling Spreads to go long, and the same with Eurodollar and Euribor Spreads.
I still remain long corn, hoping for a bit more of a move to get out, ideally above 3300.
Euro Indices are likely to remain under more pressure as data coming out has not been good and this mornings German Factory orders was a big miss. This coupled with the fact that the ECB is staying put with its current program suggests there is limited upside for now.
Not much to report on the Bond front, I'm using pullbacks in Short Sterling Spreads to go long, and the same with Eurodollar and Euribor Spreads.
I still remain long corn, hoping for a bit more of a move to get out, ideally above 3300.
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