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Friday, November 1, 2013

Italy and Spain - rollover goes worldwide




Ritholtz and Brown will tell you that the Euro periphery markets flew up when everyone else in the market turned the Euro recovery story into a fad.

Well, now the new fad is selling Euro periphery back down.

For pretty much no reason, since SP10Y is 3.99% and IT10Y is 4.09%, both yields down on the day.

Continued selling of these ETFs after Europe close will prove that.

So I guess the market is now going whole-hog on selling everything and going to cash because OMG the US is recovering.

2 comments:

  1. I will personally take credit for the flat spot then leg up at the end of September to mid October on that Spain chart.

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    Replies
    1. Oh come on, you didn't drink that much. There must have been a half dozen teenagers from Belfast in the country that week.

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