Markets Mixed after ECB and EU Summit, Focus to Turn Back to Bond Auctions Sentiments were steadily optimistic for most of the week before sharp post ECB risk selloff and then a strong risk rebound on EU summit. The bigger picture was left rather mixed by the week's volatility. DOW managed to close at 12184 despite a brief break of 12000 level, which suggested that investor confidence were not too bad. However, peripheral bond yields soared after ECB with Italian 10 year yield jumped to as high as 6.74% and only managed to pared the gains on ECB bond buying. Dollar index spiraled higher but failed to sustain above 79 level while EUR/USD also managed to hold above 1.3259 minor support even though being soft for the whole week. So, what's next? It's believed that investors would take some time to digest the implication of ECB's announcement as well as the progress of the EU summit. And markets would possibly take a stance after this week's bonds auctions in Spain and Italy. Full Report Here... | 
 |
No comments:
Post a Comment