Negatives, Negatives….

A kind of uneasy feeling surrounds markets today and I can see only negatives on the horizon:

  • Japanese Yen and Australian dollar – currencies involved in financing equity bets moved against financing users.
  • Peripheral Europe bond spreads rose in recent weeks; Greek are even close to pre-bailout levels.
  • Hungarian Forint vs. Swiss Franc again close to all time highs. If it moves higher we could have first real default here.
  • Existing home sales will be reported later today; a lot of indication we are bound for a big miss to the downside.
  • U.S. Q2 GDP will be revised sharply lower on Friday
  • Durable goods orders report on Wednesday – the consensus of +2.5% seems pretty high.

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This entry was posted on Tuesday, August 24th, 2010 at 3:48 am and is filed under Markets. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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