Wall Street Trading Desks
The latest on what we are talking about this morning.
We summarize his key points:
- Risk off in Europe. Spain specifically weak. Everyone’s waiting for bank stress test results.
- Shanghai rallied 1.5% last night, and is now up 3 out of the last 4 sessions.
- New French budget coming out that really socks it to high earners.
- A Moody’s review of Spanish debt could come as soon as the close today.
- Chinese leadership transition announced for November 8.
- The Chinese yuan climbs to a 19-year high.
- The yen is at 7-month high
- Moody’s cuts South Africa.
- According to AAII,the number of bearish investors has surpassed bullish investors. This is the first time this has happened since early August.