No Respite in Sight

mar bonnin palmer

The latest twist to the Eurozone saga has seen the debt crisis aggravate, with Moody’s downgrading its rating on 28 Spanish banks and Cyprus joining the bandwagon in seeking a European bailout for its ailing banking sector. The Italian and Spanish bond auctions due later today are likely to provide more hints about the worsening European debt crisis.

Across the Atlantic, consumer confidence and regional manufacturing index could test risk appetite. In the UK, testimony by BoE’s policymakers is likely to garner market attention, especially of Spencer Dale and Ben Broadbent, who had voted against QE in the June meeting.

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No Respite in Sight

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