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Three More Strikes against the EURO
Euro-sovereign debt fear is again dominating this mornings market. Moody’s has placed Spain’s Aa2 rating on review for a possible downgrade and has threatened to lower the ratings on four Spanish banks. Arguably not in the Greek boat just yet, Spanish 10-year yields have backed up +60bp so far this month. Once the market begins to lose confidence, yields creep much quicker, just look at Italy this week, surging Italian yields on speculation that Tremonti may quit. Euro-zone inflation rate fell to +2.5% in July, after having climbed +2.7% in June, y/y. It’s still above the ECB’s target of just below +2%. ... (full story)
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- Jul 29, 2011 7:54am Jul 29, 2011 7:54am
- jhonut
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josch
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trading is war - life is simple
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- Jul 29, 2011 12:37pm Jul 29, 2011 12:37pm
- Alan5616
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