Spain Buys Time

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Over the weekend, the Eurozone regional governments agreed to provide up to €100 billion to save the troubled Spanish banking sector. Though further details of the bailout plan are awaited, markets have cheered the development with the Euro posting handsome gains against the US Dollar this morning. Additionally, upbeat Chinese trade data and easing inflation aided the “risk on” trading sentiment. With a light global economic calendar today, the outcome of the Greek elections during this weekend is likely to occupy investors minds during the course of the week.

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Spain Buys Time

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