Bobbys Corner-Open Market-January.11.2012
Good Morning:
A fairly lackluster overnight session greets us this morning.
German GDP came in at 3%-which was widely expected. Analysts are not overly optimistic on growth in 2012-and expect German GDP to grow under 1% for the year. With continued turmoil in the Euro Zone and the sovereign credit crisis that is not going away-the prospect for growth is weak. The German economy has been resilient in the past-time will tell.
Continued investor confidence in the German economy allowed the sale of 5 year bunds (bonds) below 1% for the first time.
Italian bonds fared well during the morning session-with 10 year yields below 7%.
Comments by Fitch Ratings that the Euro regions debt crisis will worsen unless the ECB boots bond purchases sent the Euro lower.
Asian equity markets were higher-while European equity markets are lower-as are US Futures.
Oil is lower (still over &101/bar)-Gold and Silver are both higher.
HAVE A GREAT DAY & GOOD LUCK
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