I don't know if anyone's posted this yet; here's a link: http://www.reuters.com/article/idUSTRE66615D20100707
Also, this came from a Bloomberg terminal (a poster on another website):
EU STRESS TESTS SAID TO INCLUDE 17% HAIRCUT ON GREEK GOVT BONDS
EU STRESS TESTS MAY INCLUDE 3% HAIRCUT ON SPANISH GOVT BONDS
Those haircuts are way in the low range, but should give the markets confidence that bond impairment's being looked at. Bullish for the EUR.
Also, expect news to trickle out prior to the 23d, just as the Fed did here. The intention is to boost confidence in the European banking system.
Fundamentally, bullish EUR. The report will be pure cow dung but it's all about market confidence.
Also, this came from a Bloomberg terminal (a poster on another website):
EU STRESS TESTS SAID TO INCLUDE 17% HAIRCUT ON GREEK GOVT BONDS
EU STRESS TESTS MAY INCLUDE 3% HAIRCUT ON SPANISH GOVT BONDS
Those haircuts are way in the low range, but should give the markets confidence that bond impairment's being looked at. Bullish for the EUR.
Also, expect news to trickle out prior to the 23d, just as the Fed did here. The intention is to boost confidence in the European banking system.
Fundamentally, bullish EUR. The report will be pure cow dung but it's all about market confidence.