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Mercredi 30 Mai 2012

Today's Markets - May 30, 12

European equity markets are trading lower this morning pressured by continuing concerns about the health and future of the Spanish banking sector and news out of China that any stimulus to boost economic growth won’t be of a similar size as back in 2009 during the first financial crisis.

Today's Markets - May 30, 12
Some traders are worried that the slowdown in China might me more pronounced than economic data are indicating requiring much stronger action by the government than currently planned. Later this morning there are Euro-zone confidence figures scheduled for release, with further declines are expected as turmoil in Greece and Spain continues to take its toll. The risk with these figures is most likely to the downside similar seen to the ones in Germany where the IFO turned out much worse than expected just a few days ago. Also focus will be on two important Italian bond auctions this morning providing an excellent test of just how much more risk averse investors have become over the past couple of weeks. Two weeks ago, the last time when 10 year bonds where auctioned off only Greece was in the headlines after elections had failed to produce a clear majority for the governing pro bailout coalition in the meanwhile woes about the Spanish banking sector have been thrown into the mix causing another rise in periphery yields. Furthermore the size of the 10 year bonds planned to be auctioned off today is substantially higher compared to last time around possibly requiring yields which are even closer to the 6% level than they currently are in order to attract sufficient demand from investors.

Markus Huber - Head of German HNW Trading - ETX Capital


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