Intraday Market Thoughts

Archived IMT (2009.06.19)

by Ashraf Laidi
Jun 19, 2009 17:08

CALIFORNIA SCREAMIN': Moodys' Puts California on Watch for a possible credit DOWNGRADE that could be by several notches. Dollar was deepenening weakness despite stocks paring their earlier gains as bond yields fall sharply. MORE UPDATES Bargain hunting is said to be behind the bond buying, but the Fed also bought Agency securities earlier today. Gold remains little changed at $930s while oil retains bid at $71.80s. Interestingly, Emerging markets retain strong footing as Brazils Bovespa and Indias Sensex +1.4% and 1.8% respectively, Note Swiss franc strengthening as EURCHF and CADCHF near session lows, while EURJPY also pushes lower. USDJPY eyes 95.70.


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