Once again Spain and the Euro are dominating market sentiment, atleast that’s how the press is relating it and the French Press isn’t holding back; “L’ESPAGNE FAIT CHUTER LES BOURSES ET L’EURO” nor is Zerohedge; Spain On The Ugly Side of 7.5%. ZH gives a good perspective on IBIX which is down 5%. That would be the equivalent of the Dow Jones tumbling 600 points. It should be an interesting day.
The EURUSD at nearly 3 year lows has disturbed the Eurozone politicians vacation, who after a sunny weekend poolside/wineside/ouzoside/sangriaside, are now outfitting their seconds as keystone cops, for the start of the week.
Every effort will be made to stay pool/wine/ouzo/sangria side.
- EURUSD – 0.26%
- Gold Futures (GC) – 0.77%
- S&P Futures (ES) – 1.03%
- CAC40 – 1.94% FTSE – 1.74%
- Nikkei – 1.62%
- Grain Futures down across the board (a first for a while)
- Oil Futures (CL) -2.89%
The CBOE Put/Call Ratios from Friday are updated (here).
Grant Williams is out with another TTMYGH, this time sticking a fork in our political elites and their inept management of the economy. A must read, here’s the link for his free newsletter.