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Bobbys Corner-Open Market-Feb.10.2011

bob-slade-forex-2-150x200Good Morning:

As expected the Bank of England left interest rate s along with their QE program unchanged.
Portuguese bond yields rose-and the ECB was aggressively buying them up.  The spread between Portuguese and German  10 year government bonds has widened again-now at 420 bps.  This is still not as wide as the spreads got when Greece was in the early stages of their debt crisis. 

With global equity markets mostly lower-the greenback rose as demand for the safety of the US currency was the main event in the FX markets overnight.

Asian equity markets were mixed, and Europe’s equity markets are lower at this time.  US Futures are also looking at a lower opening this morning.

Oil:$86.43                                                                            Gold:$1358.20  
 

TIME PERIOD FOR EST.
7:45A.M. BK. OF ENGLAND RATE DECISION
8:30A.M. INITIAL JOBLESS CLAIMS 5-Feb 410K 415K
8:30A.M. CONTINUING CLAIMS 29-Jan      3900K 3925K
10:00A.M. WHOLESALE INVENTORIES DEC. 0.80% -0.2%
2:00P.M. MONTHLY BUDGET STATEMENT JAN. -$60.0B -$42.6B

HAVE A GREAT DAY & GOOD LUCK