Finnish
parliament accepted the Spanish bailout package. The next step is for the
Eurogroup today to agree and accept the MoU (memorandum of understanding, or
the agreement) on Spain. I have no strong views yet, but we’ve
seen the upside targets in EURUSD and SPX and it is Friday – I would guess
people would prefer to leave the offices with little less risk on their books.
Thus I would not be surprised if we get a bear day.
Yesterday
on on MoreLiver’s
News
roundup – Between
The Hedges
The 6am Cut
London – alphaville
/ FT
Emerging
Markets Headlines – beyondbrics
/ FT
Debt
crisis: live – The
Telegraph
The Euro
Crisis Blog – WSJ
FX Options
Analytics – Saxo
Bank
European
10yr Yields and Spreads – MTS indices
Market Preview: Finnish vote on Spain bailout eyed – Saxo Bank
European markets are likely to open in the red
Friday ahead of the Eurozone finance ministers' vote to approve an aid package
for Spain to recapitalise its banks.
Danske Daily – Danske
Bank (pdf)
The rally in the US stock market
continued…However, optimism faded in the Asian trading session… Focus today
will thus be on the European political scene and the Eurogroup meeting which is
scheduled to start at 12:00 CET. The meeting will be held by
teleconference and the only item on the agenda is the memorandum of
understanding (MoU) for financial assistance to the Spanish banking sector.
Morning
Briefing: Scary
numbers (FX reserves edition) – BNY Mellon
Time to place a few of our recent discussions on the issue of FX reserves in context.
Time to place a few of our recent discussions on the issue of FX reserves in context.