The markets took a nice 1% pop this morning in Europe and duly followed with a 0.5% rise in the S&P Futures. I initially thought it was the formalisation of a $30 billion rescue plan and a deficit target extension announced for Spain. Alas, it looks more like the result of a meeting (strategic dialogue) between China and the European Union. That’s news worth fading.
Here’s the piece from AFP that caught my attention (in French).
On other fronts:
- The EURUSD rests unchanched
- Gold Futures are up slightly (GC) +0.3%
- BOJ reportedly easing to overcome deflation
- Grain Futures are pulling back a bit after yesterdays 5% rise
- S&P Futures are on the rise (ES) +0.55%