Adding insult to injury there's talk from a US think tank that next Wednesday's FOMC may lean toward the hawkish side, even switching back to implying renewed rate hikes down the road.
Soft economic data meanwhile (initial claims and existing home sales) has not been enough to stop the rot. For Bunds, a close below the 118.18/20 region brings danger, and it won't take much to force new lows. Buying has been in Europe but it has been insufficient to fob off decent leveraged selling, which has been the dominating force this year. Real money types are active but not aggressively so.
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