Friday, November 26, 2010

European Pressure

Spain 10 year bond yields continue to rise, we are making new highs.  The heat is coming, the bond vigilantes are putting Spain to the test.  This is giving us a healthy gap down on the futures.  Until the mess is cleared up in Spain, a cloud will be hanging over this market.  No strong feeling about the intraday action today, I will likely just watch.  I am leaning towards further weakness after the open.

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