News Headline Summary
Stocks in Europe are set to open in flat, though the sentiment is expected to be driven by the price action in the bond market where market participants are yet to digest the downgrade of France and also await further developments in Portugal...
- Late on Friday, Fitch downgraded France to AA+ from AAA; outlook stable. This morning, FR/GE 10s wider by 3bps.
- Opposition leader Alfredo Perez Rubalcaba called for the immediate resignation of Spanish PM Rajoy and warned that his refusal to stand down was causing incalculable damage to the country. His call was echoed by other opposition leaders. Although PO/GE 10s wider is flat at 589bps. As a reminder, PO/GE 10s spread widened by over 60bps to 620bps, widest since Dec-12 levels.
- Overnight in Asia, Chinese GDP for the Q2 came in at 7.5%, in line with exp. China Stats bureau said the economic slowdown is partially a result of slowing potential productivity and is also partially due to deliberate efforts of structural reform.
06:41, 15 Jul 2013 -
20:04, 15 Jul 2013
US EQUITY WRAP; S&P 500 heads towards its longest winning streak since January 25, posting gains for an eighth consecutive session
19:50, 15 Jul 2013
US equity markets trade off session highs and in minor positive territory heading into the final 10mins of trade; S&P 500 hit just 3 points away from its record intraday high although failed to sustain gains ahead of earnings reports from Goldman Sachs...
17:19, 15 Jul 2013
Having opened higher, US equities continue to trade around their best levels of the session as market conditions remain quiet with thin volumes ahead of Fed's Bernanke semi-annual testimony to the House on Wednesday's and the Senate on Thursday...
10:43, 15 Jul 2013
Heading into the North American open, firmer USD, resulting from the surge higher by USD/JPY continues to weigh on various commodities, as well as commodity linked currencies...
09:55, 15 Jul 2013
EU MID-SESSION UPDATE - 15/07/13: Stocks in Europe traded higher this morning, as market participants breathed a sigh of relief following an inline with exp. Chinese GDP reading and also welcomed comments from PBOC’s Zhou…
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