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Global
Financial Markets: NYSE Market Information > Bonds & Fixed Incomet > Monetary Policy > Banking Portal > Commodities
Market Commentary:
Our market sentiment
indicator advanced (marginally) from
77.5% to 77.8%. Historically, December has been the best
month
and the 5%-plus return on S&P 500 makes this December one of
the
best’s best. European sovereign debt issues are
pressuring
the euro and the risk trade. Treasuries have sold off hard as the
market prices in better growth. Unfortunately, higher yields will
likely pressure any housing recovery. Now that the tax bill has passed,
investors will focus on direction of 2011 earnings and the revisions
which we believe we will be positive. We remain fully
invested in
stocks.
Treasury interest rate
info: Barclays
Capital is
estimating the mix of currencies for a UAE
international "basket" to take the form of 33% EUR, 33% Asian
trade-weighted currencies (whose rates are still heavily linked to the
USD) and 33% related directly to the USD itself. Thus, the UAE central
bank could be a FX buyer of as much
as 7 billion EUR/USD. The UAE has moved away
from a USD peg.
The Bank of England | LIBOR (London Interbank Offered Rates)
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