Bobbys Corner-Open Market-Nov.10.2009
Good Morning:
The worst news of the evening was Fitch Ratings stating that the UK is the most at risk of any of the major economies from losing their AAA credit rating. The concern is mainly about their budget deficit, as the global recession took a bit out of UK tax revenues and caused a large jump in state sponsored welfare costs.
The GBP dropped overnight, and the USD was mostly weaker with the EUR/USD pair reaching 1.5020.
Asian equity markets were higher, and European stock indexes were mixed. MBIA (the world’s largest bond insurer), missed estimates for Q3. US Futures are lower at this time.
Oil: $79.35 Gold:$1099.40
HAVE A GREAT DAY & GOOD LUCK




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