After a three day sell-off in “Safe Haven Bonds” which have seen 10yr Bund yields rise 23bp and 30yr US Treasury prices fall 5 points from Thursday’s highs some reflection needs to take place. On Friday I said that the peripheral bond markets needed to reflect that the ECB President was leaving all the hard […]
Draghi drops the Bomb — FIU
Quite clearly the ECB President Mario Draghi signaled that the ECB will not be buying Italian and Spanish bonds unless those countries enter into an agreement with the EFSF or in the future the ESM. He clearly stated that even then the ECB may not intervene in the bond markets. When asked about Italian Prime […]
Dramatic Market Moves — FIU
A market move of the kind saw at the end of last week is hard to comprehend. Two stories caused the dramatic moves. Firstly both the WSJ and the NY Times ran stories at the beginning of the last week declaring that the FOMC was ready to act at this week’s FOMC meeting. Reading the […]