Yesterday the major theme seemed to be dollar weakness, which we associate with a more risk-loving environment returning. The Beige Book report on economic activity saw the US economy expanding at a modest-to-moderate pace through to the end of March.VIEW FULL ARTICLE
The Euro is lower this morning as jitters over the European sovereign debt crisis continues. ECB Governing Council Member Nowotny tried his best to dampen concerns stating that he was not concerned about Spain as the government had taken the necessary steps to repair its finances.VIEW FULL ARTICLE
European equity markets look set to ignore the fall on Wall Street and in Asia and rally this morning. Yesterday’s Spanish bond auction was disappointing with the government unable to find buyers for the maximum amount of debt it wanted to sell.VIEW FULL ARTICLE
As pressures re-emerged in sovereign debt markets last week, eurozone Finance Ministers met in Copenhagen and announced an increase to the European firewall on Friday to €800 million. The firewall will be made up of the EFSF and the ESM schemes, although the latter will not be fully operational until mid-2013.VIEW FULL ARTICLE
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