Saturday, April 23, 2011

EUR/USD 1,4557

This week, better than expected “first quarter earnings helped push the Dow Jones Industrial Average to its highest level in over three years. The upbeat earnings announcements overshadowed somewhat lackluster housing market data released during the week,” according to the Wells Fargo Research Team.

Still and regarding Europe, they add: “Greek and Portugal yield spreads climbed to record levels this week and the cost of insuring these bonds against default increased to all-time highs. Fears of a debt restructuring have fueled the recent increases” however, “for now, at least, the debt markets appear to be keeping the sovereign debt panic contained. Spain and Italian debt is performing quite a bit better, though these markets are under some pressure as well. The Spanish 2-year note yield is at 3.46 percent, while the Italian 2-year is holding at around 3.05 percent”.

source: fxstreet.com


8 comments:

  1. better than expected is very good i guess :D

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  2. its good to see greece and portugal doing good

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  3. Intersting Spain and Italy seem to be doing a larger job at containing the debt. I've heard rumors of Germany wanting out because they support so much of the ongoing debt and getting the EU out ofit, what's the analysis there?

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  4. Thanks for the info.
    Following!

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