Sentiment continues to drive markets January 13, 2012
Mr Market continues to be driven almost exclusively by extreme changes in sentiment on a day to day basis. The recent Euro rally stems from the positive outcome of Spanish and Italian bond auctions yesterday. Both countries we able to place the bonds at considerably lower rates than in recent auctions lifting sentiment and the Euro throughout yesterday and into this mornings trading. Worryingly data just out showed Spanish Banks borrowing almost €140bn from the ECB in December, almost the record high set back in July 2011 and this tugged sentiment back in the negative direction. Read the rest of this entry »



