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Bobbys Corner-Open Market-Oct.10.2012

Good Morning:

A fairly lackluster overnight session-with the majors showing no real activity.

Fitch Ratings commented that the US fiscal cliff, EU crisis, and a potential “hard landing” for the Chinese economy will be
a risk to the global economy.  Thanks-I think we knew that!

Fitch also commented that the Spanish and Italian recessions are intensifying.
They also commented on the declining UK economy-and that the UK’s rating is vulnerable.
Are they positioning themselves for a UK downgrade in the future?

After Greece greeted Angela Merkel with a protest upon her visit yesterday-Greek labor unions have decided to stage anti-austerity strike on Oct. 18.
Ms Merkel was in Greece to show her support for the Greek Prime Minister-I see that didn’t go as well as expected!

Asian and European equity markets are mostly negative-as are US Futures at this time.

Oil is flat-Gold and Silver are higher.


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