Spreadex Market Update
Global headline retreat
Although bulls do have some incentive for taking on more risk deriving from positive news today that regulators will allow banks more time to build up a cushion for liquid assets.
Consequently, such news is causing the banking sectors to fare well in the general sell of today.
Despite this it seems last Wednesday’s global rally, caused by the US managing to avoid beginning 2013 by falling off the fiscal cliff, is slowly becoming a distance memory in the minds of investors.
Thus, investors are now realising that a temporary solution to avoiding the cliff is clearly not the same as solving the budget negotiations for good.
Nevertheless, tomorrow there is a raft of economic data from the Eurozone which could help introduce some optimism back into the sentiments.
Clearly investors would be delighted with data showing an improvement in Eurozone activity, and this, partnered with the fact that investors are receiving a temporary break from hearing about budget negotiations within the US could present an opportunity for bulls to take control of the markets.
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