Archived IMT (2010.11.11)
IRISH 10-YR YIELDS hit a new high of 8.93%, extending the spread over Germany yields to a record 7.22%. EURUSD breaks back below $1.37, which is the 23.6% retracement of the rally from the 1.1876 low to the 1.4281 high. I have warned since October 19 (the day of the Chinese rate hike) that EURUSD would have to CLOSE NY under $1.37 in order for selling to accelerate. Since then, weve touched $1.3690s twice but never closed below it. 7 WEEKS LATER, this requirement still applies. EURGBP (yesterdays IMT) extends selloff to 0.8480, en-route to 0.81. EURCAD hits 1.3740 (250 pips below the HotChart). US 10-year yield stands at 2.60%, back from yesterdays 2-month highs of 2.78%. 20/30 analysts polled by Reuters see Ireland getting Int'l bailout by end of 2011.
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