S&P has come down fast, but is sitting around technical chart support levels and is still in a range. Though a break to downside remains a possibility, I would much rather be a bull for a day (Fed minutes out later today) than a sucker for a week.
News
roundup – Between
The Hedges
The 6am Cut
London – alphaville
/ FT
Emerging
Markets Headlines – beyondbrics
/ FT
Debt
crisis: live – The
Telegraph
The Euro
Crisis Blog – WSJ
FX Options
Analytics – Saxo
Bank
European
10yr Yields and Spreads – MTS indices
Currencies were steady at lower levels in the
Asian session Wednesday, though a slight uptick in risk appetite was felt
towards lunchtime. In EURUSD, the early attempt at a rally was rebuffed at
1.2330.
Market Preview: FOMC minutes top agenda – Saxo
Bank
European markets will open lower on overnight
reports that the German constitutional court might further delay to reach a
conclusion on ESM ratification. Elsewhere, the Minutes of the last FOMC meeting
will be eyed for signs of QE3 on the horizon.
Danske
Daily – Danske
Bank (pdf)
If any relief could be identified after the somewhat
vague messages from the Eurogroup meeting
on Monday, it once again proved short-lived...Focus today will be on
whether the Fed minutes from the June meeting give any further hints regarding the likelihood of another
round of quantitative easing.
Morning Briefing: "Don't Push Me, Cos I'm Close To The Edge..." – BNY Mellon
Morning Briefing: "Don't Push Me, Cos I'm Close To The Edge..." – BNY Mellon
The Greek “fiscal cliff”