THIS MARKET TRADES LIKE IT WANTS THE SPAIN (ITALY?) SHOWDOWN..
Written on November 29, 2010 by ozan
THIS MARKET TRADES LIKE IT WANTS THE SPAIN (ITALY?) SHOWDOWN..
Like Roger vs Nadal last nite, everyone knows this is what it wi
ll boil down to.. And not to have something “possibly bigger tha
n Lehman,” (i.e if Spain goes , Europe goes is a big motto for
some ) , we need Nadal to win at the time! … If senior Irish b
ond holders were touched, I believe we would have a “mini Oct 08
” panic rite now.. They were not… But this “sell the mini rall
y” does not surprise me either… Hedgies want to hang on to ver
y hard earned returns if they have any … Bankers/traders want
no “last bad trade” during usual December sports … Real money
is seeing outflows at least on external debt front.. If ISM is
very good again, es may continue to “decouple.” But otherwise, r
isk on does not have much “glass half full” friends yet.
