Spreadex Market Update
Optimism over Greece
Over the weekend China cut its Reserve requirement ratio by 0.5%, boosting its lending capacity by up to Yuan 400Bn.
Optimism that a deal will be struck with Greece, on top of Chinas commitment to boost the EFSF if necessary is helping the markets to open higher this morning.
Sentiment seems to be high as investors seem encouraged that the proposed €130 bailout will come through, however it could be argued that the deal is now priced in so it will be interesting to see how much more strength this rally has.
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