It seems too risky to
keep open positions over the week end even if you have the authority from
your boss and back office to so do!!!
The Greeks are rather sensitive and defiant. They have
decided that they need to keep the money with themselves. If the outstanding sums are large, the
deliberations have greater seriousness!
Merkel is looking for 'numbers' in the end. The Germans are rather disappointed at having
to dole out the Greeks.
The bond market seems rather volatile(volatility is probably
where you make your money) but then the weekend is too long to have long
positions.
The European banks ranging from HSBC to Lloyds seem to leave lingering doubts in the insecure minds of the investor.
The US economy sends out mixed signals. The IMF pleads
with US not to raise the interest rates in the fall. But "if winter
comes, can spring be far behind" ? The Fed has been considerate but would
be driven by data and not IMF pleas.
So the FIIs have to leave the emerging economies some day, soon and with the oil glut, Indonesia and Venezuela are examples of how the cookie crumbles.
Australian stocks haemorrhaged, shedding
$70 billion over the week in worries over the stalling domestic economy
and that piled on a global bond sell-off to hit local equities . It might
take some time for the Aussies to restore confidence.
Without any risk or responsibility
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