Lack of Economic News and Decent Euro Bond Auctions Should Float the Market This Week.
This week, the economic news is fairly light and that should bode well for the market. Conditions are deteriorating and fears of a double dip recession have surfaced, but that is an issue for next week. The other news that had the potential to weigh on the market this week is the European credit crisis. Surprisingly, those bond auctions went very well and in some instances, yields actually dropped. Spain sold €6 billion worth of 12 to 18 month T-bills. The average yield fell from 2.3% down to 2.2%. The bid to cover also increased from 1.5 to 1.95 showing strong …
July 20, 2010
• Posted in: Options
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