Contributing Editors' Blog Entries

AVFMS's picture

 Markets have found a good excuse to be on hold. Elections. No real US figures and a tendency to ignore European ones. No shoe dropping means upside, a little. Core EGBs rather firm nevertheless, for choice. Periphery, in absence of news, trading back and forth, so better today. EZ Q4 growth looks like stalling with a catch-up of a more lenient summer. More to come.
"Elected " (Bunds 1,43% +1; Spain 5,64% -9; Stoxx 2513 +0.5%; EUR 1,281)

Phoenix Capital Research's picture

 

For certain, no matter who wins today, Europe’s a complete disaster. Greece is once again out of money and will need someone (though at this point it’s not clear who is willing to pony up the cash) to foot the bill. Elsewhere, Spain continues to lurch to a full-scale collapse. 

AVFMS's picture

Nothing really mattered… Eventually. Europe correcting Friday’s excessive optimism, in line with the US, treading water ahead of the elections. Still, the Periphery remained under (controlled) pressure with Spain cornering most, if not all negative headlines today – ahead of Thursday’s auction. 10 YRS periphery backing up to (selective) symbolic levels of 5% and 5.75% (damn’ near 6%).