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Market Pulse: Europe in good news day shock

Thursday, December 13, 2012 - 03:54

Dec. 13 - A banking union deal, more aid for Greece, and successful bond sales in Italy and Spain – Europe enjoys a rare good news day.

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A deal on -- -- union that even the -- can live with. Greece gets the green light for his latest -- and quickly in Spain -- strong demand and falling yields the bond sales. Who says the eurozone economy progress. I'm dignity diva and this is today's market pulse let's get straight time out to pizza -- thick head of -- -- strategy at RBC capital markets. Pizza I'm pretty good options -- between Spain and decent demands and then you as look as a societal things to come for 2013. Probably yes I mean we've seen who then I think we have welfare shale. Things to deal with this is so I think we can collect. Quite comfortably. Look ahead for the next couple weeks since then that's probably get them in mind you there's always a little bit of pollution activity between Christmas and new year particularly -- today. But usually these go well and that should be any different this time around either. Are you up by out of its late on Spain. It depends a little bit what kind of timeframe you look -- in general I would say on -- both we. It fairly constructive on the peripherals and general in Italy and Spain from Denton also -- at the back end. If you ask me about more near term I mean there's so did the elections and -- definitely -- -- one of the middle it. And the elections and it became course quite a bit of editorialists say in the Italian market level -- first -- -- it to be at the moment of ammonia term basis but in general yes so -- So what's a good -- the yield levels unspent targets we should be looking up. Well look I mean at the -- -- area I think both can trade all the way back down to us that 2% may be -- bill that -- particularly appealing full Spain. But particularly if you look at the bullets them the full what's -- way above that because that -- is quite enormous as you know with the F funding rates essentially at zero. So nothing to ascend is a good target but even that would remain carried -- a and at the long and I think it's and he can't write down intent is down to 4% to. They can -- How can that as I mentioned eventually did say today it's against the approval for its next consummate. If -- is off the Madoff and Ireland Italy Spain appear to be in relatively good shape them. -- will want to public about. Well let's hope that -- we don't have anything to panic about for the time being I mean there will be. And an -- uncertainty on the agenda that will markets at some stage freak out a little bit about. Pesetas the redemption -- -- -- old days the Italian elections they drawn immediately get the Italian the German elections in all these events. Any meaningful. But nothing that's the crucial thing. We should be past the point off panic for your area overall and then as a major achievement and that makes me more comfortable been in these -- is indeed. Passed upon the comic -- -- pizza thank you very much the US dollar bonds -- from initial losses after yesterday's announcement afresh QB by the fact. But despite spending -- eight to five billion dollars a month of us it puts -- most finalists are betting on renewed downward pressure for the greenback. Technical analyst at ING among those to say that long term the long term downtrend remains in place the dollar index. But the price is well below the fifty and 200 day moving averages. They see what's that takes the shot tumbles at 7957. A break of that level would clear the way for a test of long term support -- 7870. The prospect of -- should we not doing much for you to Pete shares I don't benchmark indices -- today a classic case of by the amount so the fact. Investors also affecting over the so called US fiscal cliff. Cassel must another but telling us everything at this time to look at the markets and why. Jamie gave up this -- --

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Market Pulse: Europe in good news day shock

Thursday, December 13, 2012 - 03:54

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