Global interest rate and equity markets maintain their momentum to hold yearly highs, going into a week that is full of red-flag economic releases. Having absorbed a heavy reversal off a test of support on Friday, European and U.S. equity trade went on to close last week at the highs of the year. Friday’s moves led to a gap higher in Asian equity markets that reversed four sessions of Asian market selling. As earnings season starts to unwind there may be a period of equity consolidation, as attention turns this week to regional economic reports, and to the reality of next quarter’s earnings having to absorb some heavy moves higher in commodity values that have created inflationary pressures.
Wednesday, June 20, 2012
Cash May Trump Equities This Week
Global interest rate and equity markets maintain their momentum to hold yearly highs, going into a week that is full of red-flag economic releases. Having absorbed a heavy reversal off a test of support on Friday, European and U.S. equity trade went on to close last week at the highs of the year. Friday’s moves led to a gap higher in Asian equity markets that reversed four sessions of Asian market selling. As earnings season starts to unwind there may be a period of equity consolidation, as attention turns this week to regional economic reports, and to the reality of next quarter’s earnings having to absorb some heavy moves higher in commodity values that have created inflationary pressures.
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