Bonds have fallen off a cliff, Egypt's decline is totally gone.
The NASDAQ is up 1.8%. The Dow is up triple digits reclaiming 12000 again
And the euro is above 1.38 having been under 1.30 a few weeks back.
Nothing you can really do but to go with the trend. Despite what people think, you have to trade what you see, until otherwise.
A strong ISM manufacturing reading above 60 really pushed the market, as well as a above 60 reading for the UK manufacturing sector. We had a nice 50 pip mover in cable on that number, and a widening of spreads in short sterling as would be expected.
We have ADP to look forward to tomorrow, but I don't know how credible this number will be given the wide discrepancies with the actual, non farm number, which will be released on Friday. We shall see!
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