- Just woke up after late night MU-Benfica game to find everything going my way. Guess it's due to China PMI at 48 (previous 51) + new US banks stress tests?
- ZNH2 (=TYH2) stop-in buy order filled at 130-10.5.
- On the continuation chart (=ZNZ1) currently breaking out of a 3 week long consolidation period above 131-00. Should mean an eventual attempt to try and take out old high at 131-29 (1.715%).
- Good to see ES, ZN etc all indicating Risk Off and yet ED is not going up. Strong sign that credit is driving ED moves. As long as BTPs (most transparent, track highly liquid FBTPZ1) remains under pressure, European bank funding difficulties, etc, ED negative outlook should override upside pressures from weak economy.
1 comment:
Stress test scenario for 31 US banks. 13% unemployment and -8% GDP decline by 2013 + recession in Europe.
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