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Market Sentiment And Overnight Summary

Tyler Durden's picture


Below are some of the key events to have transpired in the overnight session. According to Bloomberg's TJ Marta, sentiment is broadly higher, with stocks, bond yields, FX higher, EU sovereign spreads tighter as markets focus on German unemployment, ebbing EU concerns, shrug off German retail sales, Greek debt.  Whereas German retail sales unexpectedly fell -1.4%M/m vs est. +0.8%, unemployment fell more than expected -34k vs est. -10k. Italy December unemployment climbed to 8.9%, highest since the data series began in Jan. 2004, from a revised 8.8% in November. Commodities mostly higher, led by WTI +1.5%, 1.0 std. devs. EU leaders agreed to accelerate rescue fund, deficit control treaty . Greek debt negotiations remain in flux with Greece reporting progress, Germany expressing frustration over Greece’s failure to carry out economic. Portugal 10-yr yields fell after earlier touching euro-era record; yields of AAA-rated Finland, Norway, Sweden and Germany higher even as Coelho Says Portugal’s Debt Is 'Perfectly Sustainable.' Treasuries decline for first time in five days; 5-yrs yields yesterday touched record-low 0.7157%. SNB Says Currency Reserves Declined to 257.5 Billion Francs. Foreign Investment in Spain Shows EU38.6 Bln Outflow in Jan-Nov. ECB’s Nowotny Says ‘Can’t Be Sure’ Greece Will Stay in Euro. Belgium Borrowing Costs Rise at 105-Day, 168-Day Bill Auction. Finally, according to KBC, Irish Consumer Confidence Up As ‘Armageddon’ Averted. So every day the world does not end consumer confidence should be higher. Brilliant.


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Tue, 01/31/2012 - 08:32 | 2112204 Sandy15
Sandy15's picture

Over night is always higher.  If the futures are down, give it until 10:30 or 11:00 and Benny starts pumping it up just like yesterday.

Tue, 01/31/2012 - 08:33 | 2112206 slaughterer
slaughterer's picture

EOM sell-off?   Looks like the Pig-Men brigades are going for a double.    

Tue, 01/31/2012 - 08:33 | 2112207 westboundnup
westboundnup's picture

BDI plunging, GDP down YOY, housing sales at record low levels.  I honest to God have no idea how this market continues to melt up.

Tue, 01/31/2012 - 09:56 | 2112384 JPM Hater001
JPM Hater001's picture

One part fairy dust, two dashes of witches tit and a smatter of fraud.

Tue, 01/31/2012 - 08:36 | 2112209 Thomas Jefferson
Thomas Jefferson's picture

Jim Sinclair, "You are going to love this bubble.  At least for the next year."

Tue, 01/31/2012 - 08:44 | 2112221 KickIce
KickIce's picture

Sure, as long as you're a government contractor or employee, the private sector will continue to take it in the shorts

Tue, 01/31/2012 - 08:55 | 2112211 Ghordius
Ghordius's picture

"EU sovereign spreads tighter as markets focus on German unemployment"

hello? what is Marta trying to say here?

Tue, 01/31/2012 - 08:40 | 2112215 campag
campag's picture

ICE EXCHANGE business as usual FLASH TRADES all ok brent $112to 114to 112 in minutes

Tue, 01/31/2012 - 08:47 | 2112226 Benedict Farse
Benedict Farse's picture

The Euro just updated its status on facebook from "Single" to "It's complicated".


Tue, 01/31/2012 - 08:54 | 2112237 Ghordius
Ghordius's picture

you see, the EUR is a girl and her boyfriend is the USD

though it was a bit shameless of her to post herself as "Single" in the first place...

Tue, 01/31/2012 - 08:58 | 2112245 Scalaris
Scalaris's picture

Bloomberg's anchors were gleeful this morning.

And I'm prone to mimicry.

Tue, 01/31/2012 - 09:58 | 2112389 JPM Hater001
JPM Hater001's picture

Anchors Eh?  Are they attached to anything because from the cheap seats everything looks like its floating away.

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