ES is up from Friday’s close on lots of positive talk out of Europe. It appears the crisis is approaching , ummm, crisis point … and solutions are now being seriously considered. Of course, could all be rumours and new crises develop.
Anyway, here are some things to be going on with, sources are in each link:
First, some blowtorch application:
Wolfgang Münchau: “Only days to avoid collapse” of eurozone, Currency Market prepares for breakup
And some of the positive reports coming out
Is a Eurofix Around the Corner?
The Bundesbank no longer rules out emission of common European bonds – so-called Eurobonds.
Officially Eurobonds are taboo but behind the scenes nothing has been ruled out
On the alleged plans for a Spanish bailout
Weekend Developments and Their Significance Going Forward
Sources: IMF to offer Italy a 600 billion euro bailout via ECB funding
All just talk, rumour and innuendo at the moment.
BUT, these are the things that have been driving the market to a great extent lately, so gotta be in touch with them
And they can reverse quickly, too.
Report: Payroll tax cut extension is likely
It seems likely that some sort of deal will be reached to extend both the payroll tax cut and emergency unemployment benefits, but there will be some politics first.