Bobbys Corner-Open Market-March.8.2010
March 8, 2010 by Bob Slade · Leave a Comment
Good Morning:
Speculation that the wealthier European nations would rescue Greece, which would reduce the risk of debt default throughout Europe (especially the southern Europe) , helped boost the Euro in overnight trading. The Euro was also helped by French President Sarkozy-as he said that the regions nations are “ready” to help Greece.
There are 2 different trains of thought regarding the Greek debt problem. The first is that the markets are comfortable with the Greek problem-and that Greece’s problems will not spill over to other countries like Spain or Portugal. The other thought is that the Greek debt crisis risks the future of the Euro.
On another note-Dubai World is asking creditors to wait again for payment. Bankers familiar with the Dubai talks say that investors may be repaid in full, and receive a government guarantee if they are will ing to wait for thier money
World equity markets are higher, and US Futures are higher this morning also.
Commodities are also higher.
Oil:$81.89 Gold:$1135.80
No Major Data today.
HAVE A GREAT DAY & GOOD LUCK
Bobbys Corner-Open Market-Nov.30.2009
November 30, 2009 by Bob Slade · Leave a Comment
Good Morning:
As some in the United States are awakening to a new week after a long Thanksgiving holiday weekend, the markets have had quite a roller coaster ride the past few days.
The main concern stemmed from reports last week that state owned Dubai World may default on as much as $90 Billion. This caused the USD to rally and world wide equity markets to fall, along with commodities.
Since the initial report, markets are trying to get a grasp on the depth of this potential default on a global scale.
The UAE (United Arab Emirates’) Central Bank has stated that it “stands behind” Dubai’s local and foreign lenders. I am not clear on exactly what this rhetoric is really about as Dubai’s Government has stated that it does not guarantee the debt of the state owned entity. Dubai World is hoping that creditors will help in any restructuring process.
Overnight the USD has weakened, Asian equities were higher, European stocks are lower, and US Futures are slightly ahead this morning.
Oil: $76.18 Gold;$1172.60
Today’s data:
CHI PMI: exp: 53.0 prior: 54.2
HAVE A GREAT DAY & GOOD LUCK
Loading ...
