IMF Package Denial Sends ES And EURUSD Tumbling

Well they bought the rumor and now comes the sell-the-news/rumor/denial part of the evening as Dow Jones cites an official that 'No Discussion Within G-7 Of Reported Large Package For Italy".

EUR lost 40pips and ES around 10pts as the latter compressed close to CONTEXT's broad risk view of the world.

 

In the meantime - Some comments, via Bloomberg, from China not helping sentiment


*MOFCOM'S CHEN: EU RESCUE FUNDING STILL FACES SHORTFALL :MOCZ CH

*MOFCOM'S CHEN: CHINA OBSERVING QUIETLY EURO SITUATION  :MOCZ CH

*MOFCOM'S CHEN: WORLD ECONOMY FACES DOWNWARD PRESSURE ON EU DEBT

 

Chart: Bloomberg