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Bobbys Corner-Open Market-April.28.2010

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

Europe’s continuing debt crisis is worsening as Greece was downgraded to junk status, and the cost of borrowing rose for the other PIGS countries (Italy,Portugal,Spain, and Ireland).  In the meantime, German Chancellor Terkel delays approval of the Greek rescue package.
The Euro traded to a near one year low against the USD as speculation mounts that the EU/IMF bailout for Greece will be insufficient, and that the sovereign debt issues will spread to neighboring EU countries. 

Bobbys Corner-Open Market-April.26.2010

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

The Euro dropped as concerns that EU countries will have hurdles as they look to ratify the aid package to Greece.
With Southern European countries like Spain, Portugal, and Italy also facing sovereign debt issues-the Euro will continue to be under pressure.  
The spread between Greek and German bonds has widened to over 600 basis points-showing the marketplaces uncertainty regarding Greece.

Asian equity markets were mixed-European markets are higher-and US Futures are also pointing to a higher opening this morning.

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