Angus Walker
After Friday’s US jobs figures, the markets appear to be sending out mixed signals. The numbers weren’t that bad according to Saxo Bank’s Head of FX Strategy John Hardy who says there was an “odd reaction”.
Squawk / 14 June 2012 at 12:12 GMT
Chief Economist & CIO / Saxo Bank
Stress indicator - Snap shot from today. Highest RISK OFF reading in a long time:
bakrob99 bakrob99
Can you comment on what I should conclude from a study of your charts.
Steen Jakobsen Steen Jakobsen
Sorry - Yes, only that the risk(yield) of Spain making new record high (less than four days after the "bail-out" - and that the 2-10 y spread indicates market is selling 2-yr Italy to among other things reduce the sovreign risk exposure of Italy. (If you own 10 y Italy - the best way without selling it - would be sell something else against it....i.e 2 yr) Hope it helps
fxtime fxtime
bakrob......the 7% yield is generally regarded as an unsustainable yield/repayment rate for governments to be able to pay and reduce their debts. Also we see in the charts that spreads are widening as mkt participants more selective in which t bonds they buy and at what risk premium they want for taking on (if any) of these debts. Italy is nearing the dreaded 7% rate and Spain has crossed the rubicon as it were.
bakrob99 bakrob99
Thanks to you both.


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